The Paint, Wallpaper & Supplies Market in Kenya's DIY & Hardware Store Market is experiencing negligible growth, influenced by factors such as slow adoption of digital technologies, low consumer health awareness, and limited convenience of online services.
Customer preferences:
Consumers in Kenya are showing a growing interest in eco-friendly and sustainable options for home improvement, including paint and wallpaper. This trend is driven by a heightened awareness of the impact of traditional methods on the environment and a desire for healthier living spaces. As a result, hardware stores are expanding their range of environmentally-friendly products to cater to this demand. Additionally, with the rise of DIY culture, consumers are also looking for paint and wallpaper options that are easy to apply and can be customized to fit their individual styles.
Trends in the market: In Kenya, the Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market is experiencing a surge in demand for environmentally friendly products, as consumers become more conscious of sustainable living. This trend is expected to continue, driven by increasing government regulations and consumer awareness. This shift towards eco-friendly products presents opportunities for industry players to innovate and differentiate themselves in the market. However, it also poses challenges, such as higher production costs and the need for sustainable sourcing of materials. Overall, this trend has significant implications for industry stakeholders, as they must adapt and respond to the changing market dynamics to remain competitive.
Local special circumstances: In Kenya, the Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market is influenced by the country's climate and landscape. With a predominantly hot and dry climate, there is a high demand for products with heat-resistant and water-resistant properties. Additionally, the country's rich cultural heritage also plays a role in the market, with traditional patterns and designs influencing consumer preferences for paints and wallpapers. The government's regulations on eco-friendly and sustainable products also shape the market, with a growing trend towards more environmentally friendly options.
Underlying macroeconomic factors:
The Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market in Kenya is greatly affected by macroeconomic factors at the global and national levels. With the current economic downturn caused by the COVID-19 pandemic, consumer spending and demand for home improvement and DIY projects have increased significantly. This trend is expected to continue as shelter-in-place orders and remote working arrangements have encouraged individuals to invest in home improvement projects. Furthermore, the Kenyan government's fiscal policies aimed at promoting economic growth and development have led to an increase in disposable income, making it easier for consumers to make purchases in the Paint, Wallpaper & Supplies Market. Additionally, the growing construction industry and increasing urbanization in Kenya have also contributed to the demand for paint, wallpaper, and other supplies, creating a favorable market environment for businesses in this sector.
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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