The DIY & Hardware Store Market in Ethiopia is experiencing minimal growth due to factors such as limited access to technology and low consumer awareness. Despite this, the market is expected to grow slowly due to increasing investments in digital infrastructure and rising consumer demand for online shopping.
Customer preferences: As construction and home renovation projects continue to rise in Ethiopia, the demand for quality paint, wallpaper, and supplies is increasing. With a growing middle class and urban population, there has been a shift towards more sophisticated and modern home designs. As a result, consumers are now seeking out products that reflect their personal style and preference. This trend has led to a rise in sales of premium and designer paint and wallpaper brands in DIY and hardware stores. Additionally, there has been a growing awareness of eco-friendly and sustainable options in the market, with consumers showing a preference for products that are both aesthetically pleasing and environmentally conscious.
Trends in the market: In Ethiopia, the Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market has seen a trend towards eco-friendly and sustainable products. This is in line with the overall global shift towards more environmentally conscious choices. This trend is significant as it not only fulfills consumer demand, but also aligns with government initiatives to promote sustainability. As a result, industry stakeholders are investing in research and development of eco-friendly products and incorporating green practices in their operations. This trend is likely to continue as consumers become more aware and conscious of their impact on the environment.
Local special circumstances: In Ethiopia, the DIY & Hardware Store Market is heavily influenced by the country's limited access to infrastructure and the predominance of traditional construction methods. This has resulted in a high demand for locally sourced paint, wallpaper, and supplies. Additionally, government regulations and import restrictions have led to a strong reliance on domestic production, creating a unique market landscape. This contrasts with other markets, such as developed countries, where imported goods dominate the market. Ultimately, these factors contribute to the DIY & Hardware Store Market in Ethiopia being largely influenced by local suppliers and manufacturers.
Underlying macroeconomic factors:
The Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market in Ethiopia is heavily impacted by macroeconomic factors, such as the country's economic stability and global economic trends. With government investments in infrastructure and a growing middle class, the demand for DIY and home improvement products is on the rise. However, fiscal policies and regulatory challenges may hinder market growth in the country. Additionally, the increasing urbanization and construction activities also play a significant role in driving the demand for paint, wallpaper, and supplies in Ethiopia.
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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