The DIY & Hardware Store Market in Israel has shown negligible growth, influenced by factors such as low consumer interest in home improvement, limited economic growth, and high competition among stores.
Customer preferences: Consumers in Israel are shifting towards eco-friendly and sustainable home improvement options, leading to a growing demand for environmentally-friendly paint and wallpaper products. This trend is driven by a rising awareness of the impact of traditional home improvement materials on the environment and health. Additionally, there is a growing interest in DIY home renovation projects, as consumers look for cost-effective ways to improve their living spaces. This trend is also influenced by an increase in home ownership and a desire for customization and personalization.
Trends in the market: In Israel, the Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market is experiencing a rise in eco-friendly product offerings, as consumers become more environmentally conscious. Additionally, there is an increase in demand for personalized and customizable paint and wallpaper options, catering to individual preferences and home decor trends. These trends reflect a growing consumer desire for sustainable and unique options, posing potential challenges for industry players to stay competitive and adapt to changing consumer demands.
Local special circumstances: In Israel, the Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market is heavily influenced by the country's strong focus on innovation and technology. This has resulted in a high demand for advanced, eco-friendly products, such as low-VOC paints and wall coverings. Additionally, the country's unique climate and diverse design preferences also play a role in shaping the market, with a preference for durable and weather-resistant products. Government regulations promoting sustainable building practices also contribute to the market's growth.
Underlying macroeconomic factors: The Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market in Israel is impacted by various macroeconomic factors that influence market performance. These include global economic trends, such as consumer spending and GDP growth, as well as national economic health and fiscal policies implemented by the Israeli government. Other relevant financial indicators, like inflation rates and currency exchange rates, also play a role in shaping the market. Additionally, the increasing preference for DIY home improvement projects in Israel has contributed to the growth of the market, with consumers turning to DIY and hardware stores for paint, wallpaper, and supplies.
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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