Industry Analysis & Industry Trends
Operators in the Hardware and Home Improvement industry sell DIY equipment, building materials, outdoor and garden equipment and other hardware products. The 2008 housing market crash sent the industry into disarray because fewer houses were bought, sold and built. This was then aggravated by the economic downturn, which has sent ripples through the industry over the past five years. Sales of expensive items such as bathroom and kitchen fittings were particularly affected because consumers put major renovations on hold. This change in economic conditions and consumer behaviour dampened operators' performance. Over the five years through 2014-15, revenue is expected to decline at a compound annual rate of 0.8% to £10 billion... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Hardware and Home Improvement Stores industry is in the mature stage of its life cycle. The value that the industry adds to the economy is growing at a slower rate than the economy as a whole, a key indicator of its mature life cycle stage. Over the decade through 2019-20, the industry's contribution to GDP is expected to increase at a compound annual rate of 0.6%, while GDP is expected to grow at a compound annual rate of 2.1% over the same period. Increased competition, both internally and externally (particularly from the online retail market) has resulted in the exit of a number of players, prompting acquisitions by larger players.
While retailers stock a variety of different products, the broader product spectrum has not changed much in recent years... purchase to read more