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. Over the past five years, the industry has recovered from the lingering effects of the economic downturn and recorded relatively strong growth. Conditions in the industry started to improve from 2013-14 onwards following the introduction of government policies to stimulate the housing market, while generally improving economic conditions also boosted demand. The Help to Buy scheme led to an increase in the number of residential property transactions in 2013-14 and boosted demand for industry products as consumers increased expenditure on their newly bought properties... 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 2021-22, industry value added is expected to increase at a compound annual rate of 1%, while GDP is expected to grow at a compound annual rate of 2.3% 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. The competitive environment has also encouraged retailers to focus more heavily on discounting, which has reduced operating profit margins in the industry.
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