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The DIY & Hardware Store Market in Australia is seeing minimal growth due to factors such as low consumer demand, saturation in the market, and increasing competition. Despite this, the Paint, Wallpaper & Supplies Market is still driven by convenience and rising awareness of home improvement among customers.
Customer preferences: As consumers prioritize home improvement projects and DIY activities, the Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market is witnessing a rise in demand for eco-friendly and sustainable products. This trend is driven by a growing awareness of environmental issues and a shift towards conscious consumerism. Additionally, the use of social media and online marketplaces for inspiration and purchasing decisions has also impacted the market, as consumers seek unique and visually appealing options for their home decor.
Trends in the market: In Australia, the Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market is experiencing a rise in eco-friendly and sustainable products. With increasing consumer awareness and demand for environmentally friendly options, retailers are adding more eco-friendly paint and wallpaper choices to their offerings. This trend is expected to continue, with more innovative and sustainable products being introduced to the market. This trend has significant implications for industry stakeholders, as they will need to adapt to changing consumer preferences and potentially invest in research and development to keep up with the trend. Additionally, retailers may need to re-evaluate their product mix and marketing strategies to cater to this growing trend.
Local special circumstances: In Australia, the Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market is influenced by the country's unique environmental factors. The harsh climate and frequent natural disasters often require specific types of paint and supplies, such as weather-resistant and eco-friendly products. Additionally, the DIY culture and preference for sustainable options contribute to the market's dynamics. Australia's strict regulations also play a role in the market, with the government's emphasis on safe and environmentally-friendly products shaping consumer demand.
Underlying macroeconomic factors: The Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market in Australia is heavily influenced by macroeconomic factors such as consumer confidence, housing market conditions, and government policies. With a strong economy and robust housing market, consumer spending on home improvement projects is expected to increase, thus driving the demand for paint, wallpaper, and other supplies. Additionally, government initiatives to boost the construction industry and the growing trend of DIY home renovations are also contributing to the 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)