The DIY & Hardware Store Market in Lebanon is experiencing slow growth, influenced by factors such as low consumer interest in lawn and garden products and lack of innovation in the market. Despite this, the market is still driven by the convenience of DIY and online shopping for garden supplies.
Customer preferences: Consumers in Lebanon are becoming more interested in sustainable, eco-friendly options for their lawn and garden needs. This includes a rise in demand for organic and natural gardening products, as well as a desire for water-saving solutions such as drip irrigation systems. Additionally, with the growing trend of urban gardening and smaller living spaces, there is a demand for compact and versatile gardening tools and equipment. This shift is influenced by a growing awareness of environmental issues and a desire for healthier lifestyles.
Trends in the market:
In Lebanon, the Lawn & Garden Market within the DIY & Hardware Store Market is experiencing a rise in eco-friendly and sustainable products. Consumers are becoming more conscious about the impact of their choices on the environment, leading to the popularity of natural and organic gardening products. This trend is expected to continue, as consumers become more environmentally aware and demand for greener options. Industry stakeholders need to adapt to this trend by offering a wider range of sustainable products and educating consumers about their benefits. Additionally, there is also a growing trend of urban gardening, as more people are living in smaller spaces and looking for creative ways to incorporate greenery into their homes. This presents an opportunity for retailers to offer compact and easy-to-maintain gardening solutions.
Local special circumstances: In Lebanon, the Lawn & Garden Market within the DIY & Hardware Store Market is heavily influenced by the country's relatively small size and high population density. This results in a high demand for compact and space-saving gardening products, such as vertical gardening systems and balcony planters. The cultural preference for outdoor living also drives demand for outdoor furniture and décor, making the Lawn & Garden Market a key segment within the DIY & Hardware Store Market. Additionally, strict regulations for water usage in water-scarce Lebanon have led to a growing market for drought-resistant plants and eco-friendly irrigation systems.
Underlying macroeconomic factors:
The Lawn & Garden Market within the DIY & Hardware Store Market in Lebanon is impacted by macroeconomic factors such as the country's economic health, global economic trends, fiscal policies, and other financial indicators. Lebanon's struggling economy, compounded by the recent political and social unrest, has resulted in decreased consumer spending and a decline in the housing market. This has had a negative impact on the demand for lawn and garden products in the DIY and hardware store market. However, the country's growing population and increasing urbanization present opportunities for market growth. The government's efforts to improve the country's infrastructure and increase foreign investment may also positively influence the market's 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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