In Suriname, the Lawn & Garden market within the DIY & Hardware Store Market has seen slow growth due to factors such as lack of awareness, limited access to digital technologies, and low consumer spending. This has hindered the market's growth rate, making it negligible.
Customer preferences: With a growing focus on sustainability and eco-friendliness, consumers in the Lawn & Garden Market within the DIY & Hardware Store Market are increasingly seeking out environmentally friendly gardening products. This includes a shift towards organic and natural fertilizers, pesticides, and tools made from sustainable materials. Additionally, there is a growing interest in urban and small-space gardening, driven by demographic shifts towards smaller living spaces and a desire for locally grown produce. As a result, retailers are seeing a rise in demand for compact, space-saving gardening solutions and community gardening initiatives.
Trends in the market: In Suriname, the Lawn & Garden market is seeing a rise in eco-friendly and sustainable practices, with consumers being more conscious of their environmental impact. This trend is also reflected in the DIY & Hardware Store market, where there is a growing demand for environmentally-friendly products and tools. This trajectory is significant as it aligns with global efforts to reduce carbon footprint and promote sustainable living. For industry stakeholders, this means the need to adapt and offer more eco-friendly options to meet consumer demand. It also presents an opportunity for collaboration with international companies and experts in the field, further driving the growth of this trend in the market.
Local special circumstances: In Suriname, the Lawn & Garden Market within the DIY & Hardware Store Market is heavily influenced by the country's tropical climate, with frequent rainfall and high temperatures. This has led to a demand for specific gardening and landscaping tools and products that can withstand these conditions. Additionally, the country's diverse cultural heritage has resulted in a mix of traditional and modern gardening practices, creating a unique market for both traditional and innovative lawn and garden products. The market is also subject to government regulations on pesticides and fertilizers, which impact product offerings and sales.
Underlying macroeconomic factors: The Lawn & Garden Market within the DIY & Hardware Store Market in Suriname is heavily influenced by macroeconomic factors such as the overall economic health of the country, global market trends, fiscal policies, and other relevant financial indicators. Suriname's economy heavily relies on the export of commodities such as oil and gold, making it susceptible to fluctuations in global demand and prices. Government policies and regulations also play a significant role in shaping the market, with changes in tax rates and import/export policies directly impacting the cost of goods and services. Moreover, the level of investment in infrastructure and the overall consumer purchasing power are essential factors to consider when analyzing the performance of the Lawn & Garden Market in Suriname.
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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