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Key regions: Worldwide, China, United States, India, Japan
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Source: Statista Market Insights
Notes: Data is shown using current exchange rates. The applied current exchange rates are displayed in the Key Market Indicators below.
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
The DIY and Hardware Store market in Australia is facing slow growth, influenced by factors such as declining consumer spending on home improvement, increasing competition from online retailers, and a shift towards sustainability in product choices. This has led to a negligible growth rate in the overall market, with sub-markets such as Floor Covering, Paint, and Tools & Machines experiencing the most impact. Other factors, such as changing consumer priorities and the influence of economic conditions, also play a role in shaping the current landscape of the DIY and Hardware Store market in Australia.
Customer preferences: Consumers in Australia are increasingly prioritizing sustainability and eco-friendliness in their purchasing decisions, leading to a rise in demand for environmentally friendly products in the DIY & Hardware Store Market. This trend is driven by the growing awareness of the impact of consumer choices on the environment and a desire to reduce waste and carbon footprint. As a result, DIY & hardware stores are expanding their range of sustainable and eco-friendly products, such as recycled materials and energy-efficient tools, to cater to the evolving preferences of their customers.
Trends in the market: In Australia, the DIY & Hardware Store Market is experiencing a shift towards sustainable and eco-friendly products, as consumers become more environmentally conscious. This trend is expected to continue as the government implements stricter regulations and incentives for sustainable practices. Furthermore, there is a growing demand for online and mobile services, with retailers investing in e-commerce platforms and delivery services to cater to changing consumer preferences. These trends have significant implications for industry stakeholders, as they must adapt their strategies to meet the evolving demands of consumers. This includes expanding their product offerings and investing in digital technologies to enhance the overall shopping experience.
Local special circumstances: In Australia, the DIY & Hardware Store Market is heavily influenced by the country's vast and diverse landscape, with varying climatic conditions and terrain. Australians are known for their love of outdoor activities and DIY projects, resulting in a strong demand for outdoor and gardening equipment. Additionally, the country's strict building regulations and safety standards drive the need for high-quality and reliable hardware products. These unique factors contribute to a highly competitive market, with a focus on innovation and sustainability, as seen in the rise of eco-friendly and energy-efficient DIY products.
Underlying macroeconomic factors: The DIY & Hardware Store Market in Australia is heavily impacted by macroeconomic factors such as the country's economic growth, fiscal policies, and global economic trends. The shift towards do-it-yourself culture and home improvement projects has boosted the demand for DIY products in the country. Additionally, favorable government policies encouraging home renovations and the increasing trend of DIY renovations have also contributed to the growth of the market. The fluctuating Australian dollar, rising household disposable income, and employment rates also play a significant role in the performance of the DIY & Hardware Store Market.
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.The following Key Market Indicators give an overview of the social and economic outlook of the selected region and provide additional insights into relevant market-specific developments. These indicators, together with data from statistical offices, trade associations and companies serve as the foundation for the Statista market models.
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Lun - Ven, 9:00 - 18:00 h (EST)
Lun - Ven, 9:00 - 18:00 h (EST)
Lun - Ven, 9:00 - 17:00 h (SGT)
Lun - Ven, 10:00 - 18:00 h (JST)
Lun - Ven, 9:00 - 18:00 h (GMT)
Lun - Ven, 9:00 - 18:00 h (EST)