In Guatemala, the DIY and Hardware Store Market is seeing minimal growth in the Lawn and Garden Market. Factors such as limited disposable income and low awareness of digital technologies are impacting this slow growth rate. However, the convenience of online health services is slowly being recognized by consumers.
Customer preferences: As more people spend time at home due to COVID-19, there has been a rise in interest in gardening and outdoor spaces for recreation and relaxation. This trend is expected to continue, with consumers seeking out DIY and hardware stores for gardening tools, outdoor furniture, and landscaping materials. Additionally, there is a growing demand for sustainable and eco-friendly options in the Lawn & Garden market, as consumers become more environmentally conscious. This has led to an increase in the availability of organic and biodegradable gardening products in stores.
Trends in the market: In Guatemala, the Lawn & Garden Market within the DIY & Hardware Store Market is seeing a rise in eco-friendly and sustainable gardening practices. This trend is driven by increasing environmental awareness and a desire for chemical-free products. Industry stakeholders are responding by offering a wider range of organic and natural gardening products, as well as promoting environmentally-friendly landscaping services. These trends are expected to continue, with potential implications including increased demand for eco-friendly products and services, and a shift towards more sustainable gardening practices in the market.
Local special circumstances: In Guatemala, the Lawn & Garden market within the DIY & Hardware Store market is influenced by the country's rich biodiversity and tropical climate, which allows for a wide variety of plants and outdoor activities. The market is also heavily impacted by cultural traditions and rituals, such as the use of natural remedies and the importance of gardening in Mayan culture. Additionally, government regulations on pesticide use and land ownership play a significant role in shaping the market.
Underlying macroeconomic factors: The Lawn & Garden Market within the DIY & Hardware Store Market is heavily impacted by macroeconomic factors such as consumer spending, interest rates, and housing market trends. Economic stability and growth, as well as fluctuations in consumer confidence, can greatly affect the demand and sales of lawn and garden products. Additionally, government policies that promote or restrict home ownership, as well as the overall health of the housing market, can significantly impact the purchase of lawn and garden supplies. Furthermore, global economic trends and trade policies can also impact the price and availability of materials used in the production of lawn and garden products, ultimately influencing market performance.
Data coverage:
Data encompasses B2C enterprises. Figures are segmented by product type and consist of the following: Paint, Wallpaper & Supplies, Tools & Machines, Hardware and Building Materials, Lawn & Garden, Heating & Cooling, Bathroom Hardware, and Floor Covering.Modeling approach / Market size:
Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as product value, import value, and export value to determine domestic supply. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are turnover indices, GDP per capita, and consumer spending per capita.Additional Notes:
The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.
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