Contact
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
Key regions: Worldwide, China, United States, India, Japan
The DIY & Hardware Store Market in New Zealand is experiencing minimal growth due to a decline in consumer spending and a sluggish housing market. Factors such as rising material costs, limited availability of skilled labor, and the shift towards online shopping have also contributed to the slow growth rate. However, there is potential for growth in sub-markets such as Floor Covering and Tools & Machines, driven by increasing home renovation and repair projects. Overall, the DIY & Hardware Market in New Zealand is facing challenges, but the convenience and cost-saving benefits it offers continue to attract consumers.
Customer preferences: There has been a notable shift towards eco-friendly and sustainable products in the DIY & Hardware Store market in New Zealand. Consumers are increasingly conscious of their carbon footprint and are seeking products that align with their values. This has led to a rise in demand for environmentally friendly building and renovation materials, such as recycled timber and energy-efficient appliances. Additionally, there is a growing trend towards upcycling and repurposing items, reflecting a desire for more sustainable and budget-friendly options.
Trends in the market: In New Zealand, the DIY & Hardware Store Market is experiencing a surge in demand for sustainable and eco-friendly products, as consumers become more conscious of their environmental impact. Additionally, there is a growing trend of online shopping for home improvement and renovation supplies, driven by the convenience and cost-effectiveness of e-commerce. These trends are significant as they highlight the shift towards a more environmentally-friendly and digitally-driven market. Industry stakeholders should consider adapting their product offerings and marketing strategies to cater to these trends in order to remain competitive in the market.
Local special circumstances: In New Zealand, the DIY & Hardware Store Market is heavily influenced by the country's unique geographical setting. The remote and rugged landscape, along with a small population, has led to a highly competitive and innovative market. The country's strong DIY culture has also played a significant role in the market's growth. Furthermore, New Zealand's government has implemented regulations that promote sustainability and eco-friendly practices, driving the demand for sustainable building materials and products. This distinct combination of factors sets the DIY & Hardware Store Market in New Zealand apart from other markets, creating a dynamic and thriving industry.
Underlying macroeconomic factors: The DIY & Hardware Store Market in New Zealand is impacted by macroeconomic factors such as overall economic health, consumer spending, and government policies. A stable economy and rising consumer confidence are expected to support market growth, as consumers have more disposable income to spend on home improvement and renovation projects. Additionally, government initiatives such as tax incentives for home renovations and investments in infrastructure development contribute to the growth of the market. However, fluctuations in exchange rates and the cost of raw materials may also affect 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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)