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Lu - vi, 9:00 - 18:00 h (EST)
Lu - vi, 9:00 - 17:00 h (SGT)
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Lu - vi, 9:30 - 17:00 h (GMT)
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Key regions: Worldwide, China, United States, India, Japan
The DIY & Hardware Store Market in Croatia is seeing slow growth, influenced by factors such as low consumer spending, limited product innovation, and increasing online competition. Additionally, the loss of demand due to the growth of rental properties, and the declining home ownership rate, are also impacting the market's growth rate. Despite these challenges, the market is expected to maintain a steady growth rate due to the consistent demand for home improvement and repair products in the sub-markets mentioned.
Customer preferences:
The DIY & Hardware Store Market in Croatia has seen a rise in demand for eco-friendly and sustainable products as consumers become more conscious about their environmental impact. This trend is driven by a growing awareness of the importance of sustainability and a desire to reduce waste and embrace a more sustainable lifestyle. Additionally, the rise in popularity of DIY projects has led to a demand for innovative and quality products that allow for personalized and unique creations.
Trends in the market: In Croatia, the DIY & Hardware Store Market is experiencing a surge in online sales, with more consumers turning to e-commerce platforms for purchasing home improvement products. This trend is expected to continue as the younger generation increasingly relies on online shopping. Another notable trend is the growing demand for sustainable and eco-friendly products, as consumers become more conscious of their environmental impact. These trends present opportunities for industry stakeholders to invest in digital platforms and environmentally-friendly products to cater to the evolving consumer preferences.
Local special circumstances: In Croatia, the DIY & Hardware Store Market is heavily influenced by its geographical location, with its coastline and numerous islands driving the demand for marine and water sports equipment. Cultural factors also play a role, as Croatians have a strong DIY ethos and value self-reliance. Additionally, the country's regulatory framework, including strict building codes, creates a unique market for high-quality and durable hardware products. These factors contribute to the thriving market for DIY and hardware stores in Croatia.
Underlying macroeconomic factors: The DIY & Hardware Store Market in Croatia is impacted by macroeconomic factors such as the country's economic growth, fiscal policies, and global economic trends. The growing economy and rising disposable income of Croatian consumers have led to an increasing demand for DIY and hardware products, driving market growth. Additionally, government initiatives to improve the country's infrastructure have created opportunities for the construction industry, which in turn, boosts the demand for DIY and hardware products. However, fluctuations in exchange rates, trade policies, and inflation rates can have a significant impact on the market's performance. Moreover, ongoing economic challenges such as high unemployment rates and slow growth in the region pose a potential threat to market growth.
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.Lu - vi, 9:30 - 17:00 h (CET)
Lu - vi, 9:00 - 18:00 h (EST)
Lu - vi, 9:00 - 17:00 h (SGT)
Lu - vi, 10:00 - 18:00 h (JST)
Lu - vi, 9:30 - 17:00 h (GMT)
Lu - vi, 9:00am-6:00pm (EST)