Do-it-yourself (DIY) Home Improvement Retailing Market Report
RA00157
Do-it-yourself (DIY) Home Improvement Retailing Market by Type (Building Materials, Decor & Indoor Garden, Lighting, Electrical Work Materials, Tools & Hardware, Painting, Wallpaper & Supplies, Plumbing Materials & Equipment, Flooring Repair & Replacement Materials, and Outdoor), Distribution Channel (Offline and Online), and Regional Analysis (North America, Europe, Asia Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022–2030
Global Do-it-yourself (DIY) Home Improvement Retailing Market Analysis
The global do-it-yourself (DIY) home improvement retailing market is predicted to garner a revenue of $1,278.0 billion in the 2022–2030 timeframe, growing from $848.2 billion in 2021, at a healthy CAGR of 4.37%.
Market Synopsis
Do-it-yourself (DIY) home improvement retailing market is gaining huge popularity among individuals as it saves them the cost of labor. DIY is so popular as it allows them to spend more on the materials and tools they use. They will be able to invest in high-quality things that will last for many years. Moreover, increasing demand for do-it-yourself (DIY) home improvement and decoration of interior projects for customized designing is one of the driving factors of do-it-yourself (DIY) home improvement retailing market growth in upcoming years. Additionally, rising real estate businesses among the European and other countries will accelerate the development of housing buildings & societies, which will eventually result in the increasing demand for do-it-yourself (DIY) home improving projects. All these factors will rise the demand for do-it-yourself (DIY) home improving retailing market globally.
Furthermore, do-it-yourself (DIY) home improving retailing lowers stress when done as a leisure activity, motivates productivity, brings cost-effective innovation to the table, and also delivers a sense of satisfaction when hazy concepts become concrete. All such factors are projected to drive the growth of the do-it-yourself (DIY) home improving retailing market across the globe.
However, some of the challenges associated with DIY home improvement retailing products, such as less availability of skilled workers to produce DIY products, are predicted to hinder the market growth. For instance, decorating & painting is one of the major DIY activities that requires highly skilled professionals to handle it.
According to regional analysis, the Asia-Pacific do-it-yourself (DIY) home improvement retailing market accounted for $87.4 billion in 2021 and is predicted to grow with a CAGR of 5.55% in the projected timeframe owing to rising do-it-yourself (DIY) home improvement retailing demand across the region. Increasing popularity of visual discovery platforms like Pinterest for attempting DIY projects among Asian countries such as India, China, and Japan is driving the market.
Do-it-yourself (DIY) Home Improvement Retailing Overview
DIY stands for "do-it-yourself." It comprises repairing, maintaining, and improving your home without the help of a professional. There was a boom in popularity in do-it-yourself projects after WWII. Developments including the increase in buying a home as well as the introduction of home remodeling TV shows fueled the DIY movement. Because of hurried lifestyles and work schedules, convenient & pleasant shopping has become extremely crucial. Many of the company's major competitors have created their own online stores to provide low-cost pick-up and delivery options. This saves consumers time and money by reducing the effort required to obtain their DIY home renovation supplies. For example, since adopting e-commerce, Walmart's online revenues increased by more than 20% to 25% in 2018. The ease of buying and the ability to have things delivered to your door has boosted the number of DIY products purchased online. As a result, the introduction of e-commerce, free pick-up, and delivery options will propel the market forward over the projection period.
COVID-19 Impact on Do-it-yourself (DIY) Home Improvement Retailing Market
The global industry for do-it-yourself (DIY) home improvement retailing has observed a notable growth, during the COVID-19 pandemic. DIYers in developed as well as developing countries are investing time to complete home improvement projects as the majority of the people are under COVID-19 lockdown. Majority of the DIYers are engaged in gardening practices in order to enhance customer’s living space to keep them entertained in the lockdown situation. Moreover, significant trend is the rise of do-it-yourself (DIY) beauty care. Many parlors have shut, and even those that haven’t have customers who are wary of direct physical contact opting out of services. Furthermore, many consumers are likely to face financial difficulties as a result of a COVID-19 situation, considering their loss of jobs and savings. According to a McKinsey survey of UK customers, 66% think COVID-19 will hurt their finances for at least 2 months, and 36% are limiting their expenditure. DIY hair coloring, manicures, as well as other beauty-related services are becoming increasingly popular as a result; such factors are driving the demand for DIY products, amid COVID-19.
Moreover, key players in home improvement including Lowe’s and Home Depot Product Authority, LLC. Are increasingly focusing on the adoption of growth strategies like business expansions and strategic investments. For example, in November 2020, Lowe’s, one of the leading companies of home improvement industry, proposed to construct a $61 billion project consisting of 1.2 billion-square-foot distribution facility in the U.S. Moreover, in December 2020, Home Depot Product Authority, LLC., another notable player in DIY home improvement industry, planned to open two new distribution hubs mainly in New Jersey and Perth Amboy in order to fulfil the increasing demand from DIYers for flexible and sustainable delivery options. Such geographical expansions have accelerated the global market growth amid the COVID-19 outbreak.
Huge Popularity for DIY Projects along with Increasing Disposable Income is Anticipated to Boost the Global Do-it-yourself (DIY) Home Improvement Retailing Market
The massive popularity for DIY projects among the people especially among homeowners across the globe is a key element driving the demand for the DIY tools, which may eventually flourish the market during the forecast period. For example, as per survey conducted by ANGI Home services Inc., a lobal leader in home improvement, home services remained a priority among the other services in 2020 as 90% homeowners continued to hire planners in order to attempt DIY projects. Homeowners are showing 54% and 52% interest for the painting and landscaping activities, respectively. Several innovative players are coming up with attractive ideas to expand their customer reach. For instance, Flipkart announced that during the pandemic, they saw a spike in demand for DIY items from consumers who were confined to their homes. Consumers are also buying these items across price classes, according to the business, and they are less brand-conscious and more feature-conscious.
Furthermore, DIY-friendly materials, such as video tutorials, guidelines, and how-to articles have been available as a result of the movement's success. Best of Machinery is an example of a website that teaches people how to utilize tools and materials for DIY home decor and garden projects in a 'quick' manner. It's an online platform that offers practical suggestions, clever methods, and useful guidance on how to correctly manage machinery so that people may enjoy gardening and home décor without having to engage professionals. The growing urbanization complemented with changing consumer lifestyle is one of the factors that may bolster the market growth of the do-it-yourself (DIY) home improvement retailing industry, during the forecast period.
To know more about global do-it-yourself (DIY) home improvement retailing market trends, get in touch with our analysts here.
Less Number of Experts in the DIY Field is Further Expected to Restrain the Growth of Do-it-Yourself (DIY) Home Improvement Retailing Industry
Lack of expertise in DIY businesses is one of the major reasons negatively affecting the global do-it-yourself (DIY) home improvement retailing market. In addition to this, lack of availability of products combined with less awareness regarding the DIY projects in low-income countries will also hamper the global market throughout the forecast period. Moreover, to begin a DIY project requires skill, practice, and detailed study about the materials required, and then apply into the project. This method is only effective if the home remodeling project is not time-sensitive. Because they already have the necessary knowledge, a professional contractor would have taken less than a third of the time you will spend, which is estimated to hamper the do-it-yourself (DIY) home improvement retailing market growth during the forecast period.
The Environmentally Friendly DIY Projects are Projected to Create Immense Opportunities in the Global Market
In recent years, DIYers are increasingly focusing on zero-waste DIY projects to create eco-friendly homes. In these projects, DIYers develop sustainably and safely made products. In addition to this, customers across the globe are also showing interest in eco-friendly DIY products which are significantly healthier and cost effective. Hence, several innovative players are coming up with attractive ideas to expand their customer reach. For instance, in December 2019, Earthy Good, announced to launch ‘DIY lifestyle kits plastic free’. These kits include natural ingredients and cruelty-free products. Earthy Good is developing and serving eco-friendly DIY products with an aim to become a zero-waste company.
Furthermore, conscious customers today are aware of their purchasing habits and do not want to waste resources unnecessarily. Consumers are increasingly turning away from over-consumption and the "use-and-throw-away" culture in favor of learning how things can be recycled, reused, repaired, or repurposed in general. This is especially true in the home, where purchasing secondhand things can considerably cut prices. Used things acquired at secondhand marketplaces are being given new life through DIY projects, which are growing increasingly popular. Similarly, retailers should cater to customers by providing repurposed items, solutions, and services. These key factors may lead to create favorable conditions for the market during the forecast period.
To know more about global do-it-yourself (DIY) home improvement retailing market opportunities, get in touch with our analysts here.
Global Do-it-yourself (DIY) Home Improvement Retailing Market, by Type
Based on type, the market has been divided into building materials, decor & indoor garden, lighting, electrical work materials, tools & hardware, painting, wallpaper & supplies, plumbing materials & equipment, flooring repair & replacement materials, and outdoor. Among these, painting sub-segment accounted for the highest revenue share in 2021 and is estimated to show the fastest growth during the forecast period.
Global Do-it-yourself (DIY) Home Improvement Retailing Market Share, By Type, 2021
Source: Research Dive Analysis
In 2021, the global painting do-it-yourself (DIY) home improvement retailing market had a dominant market share and is expected to generate a revenue of $237.5 billion by 2030, growing from $145.8 billion in 2021. The extensive growth of painting sub-segment is mainly attributed to the availability of wide range of DIY paint products that include self-painting kit, terrace wall proofing, crackle effect spray, frost effect spray, and many among others. Furthermore, several key players operating in the paint & coating industry such as Asian Paints, Berger Paints India Limited, and others are following key strategies such as product introduction in order to expand in the market. For instance, in August 2020, Asian paints, a Mumbai-based Indian multinational paint company, announced to introduce a new DIY spray product called ‘ezyCR8’ that helps customers in to beautifying their home décor without any help of outsourced contractors. The company is highly concerned about the customer’s safety while attempting DIY projects, and hence they have announced the introduction of ezyCR8. Such novel product innovations along with increased disposable income among emerging countries like India, China, and Brazil are predicted to foster the sub-segment growth, during the analysis period.
Global Do-it-yourself (DIY) Home Improvement Retailing Market, By Distribution Channel
Based on distribution channel, the market has been divided into offline and online. Among these, the offline sub-segment accounted for the highest revenue share in 2021.
Global Do-it-yourself (DIY) Home Improvement Retailing Market Share, By Distribution Channel, 2021
Source: Research Dive Analysis
Online do-it-yourself (DIY) home improvement retailing sub-segment is anticipated to witness fastest market growth during the forecast period and generate a revenue of $148.0 billion by 2030, growing from $89.7 billion in 2021, with a CAGR of 5.42%. The growth is mainly attributed to the availability of huge DIY resources on various online platforms. Moreover, giant e-commerce companies including Amazon, Inc., Alibaba Group Holding Ltd., eBay Inc., and Rakuten, Inc. are modifying their strategies into attractive discounts that is creating a positive impact on the sub-segment’s growth. For instance, in August 2020, Amazon, Inc., announced a sale which offered 50% discounts on power & hand tools for home tasks. These products mainly help in completing DIY home tasks. Moreover, global do-it-yourself home improvement market will benefit from an increase in the creation of e-commerce platforms. Consumers are more likely to buy clothes, instructional books, and cosmetics from internet retailers. Companies in the home décor business are releasing smartphone apps to help customers measure their furniture precisely. Furthermore, elimination of human error, safe & comfortable shopping, easy availability of services, and massive penetration of smartphones among the emerging countries including China and India are some of the key factors accelerating the online sub-segment, during the analysis period.
Global Do-it-yourself (DIY) Home Improvement Retailing Market, Regional Insights:
The do-it-yourself (DIY) home improvement retailing market was inspected across North America, Europe, Asia-Pacific, and LAMEA.
Global Do-it-yourself (DIY) Home Improvement Retailing Market Size & Forecast, By Region, 2021-2030 (USD Billion)
Source: Research Dive Analysis
The Market for Do-it-yourself (DIY) Home Improvement Retailing in North America to be the Most Dominant
The do-it-yourself (DIY) home improvement retailing industry in the North America region owns a significant market share and generated a revenue of $467.4 billion in 2021 and it is expected to reach up to $688.8 billion by 2030. North America is expected to hold a notable market share in the do-it-yourself (DIY) home improving retailing market owing to various factors such as economic recovery of countries and urbanization. In addition to this, changing lifestyles of buyer is expected to drive the do-it-yourself (DIY) home improving retailing market in North America region. For example, in 2019, according to the data published by U.S. Census Bureau from American Housing Survey, around 73% of homeowners are taking higher interest in DIY home projects for refreshing their lifestyles. Also, according to homeowners, they have information available for home improvement projects and repair to carry out tasks by themselves, and hence they are willing to adopt DIY tasks. In addition to this, strong presence of retail companies specializing in home improvement such as Lowe's, Menard, Inc, and others and their novel DIY innovations are further expected to create enormous opportunities for the market, in the North America region.
Furthermore, due to reasons such as expanded vendor advertising operations on social media and the advent of DIY knowledge centers that promote DIY activities, the regional market is growing. Furthermore, rising urbanization and an increase in dual-income households in countries like the United States and Canada would propel the DIY home improvement retailing market in North America to develop throughout the forecast period. The United States is the most important market for do-it-yourself (DIY) home improvement sales in North America.
Competitive Scenario in the Global Do-it-yourself (DIY) Home Improvement Retailing Market
Product launches and mergers & acquisitions are common strategies followed by major market players.
Source: Research Dive Analysis
Some of the leading do-it-yourself (DIY) home improvement retailing market players are Travis Perkins, Kesko Corporation, Lowe's Companies, Inc., Amazon.com, Inc., Walmart Inc., UBUY Inc., Toolstation, Home Depot Product Authority, LLC, Flipkart.com, and UBYLD RETAIL PRIVATE LIMITED.
| Aspect | Particulars |
| Historical Market Estimations | 2020-2021 |
| Base Year for Market Estimation | 2021 |
| Forecast Timeline for Market Projection | 2022-2030 |
| Geographical Scope | North America, Europe, Asia-Pacific, LAMEA |
| Segmentation by Type |
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| Segmentation by Distribution Channel |
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| Key Companies Profiled |
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Q1. What is the size of the global do-it-yourself (DIY) home improvement retailing market?
A. The size of the global do-it-yourself (DIY) home improvement retailing market is expected to be over $1,278 billion in the year 2030, growing from $848.2 billion in 2021.
Q2. Which are the major companies in the do-it-yourself (DIY) home improvement retailing market?
A. Amazon.com, Inc. and Walmart Inc. are some of the key players in the global do-it-yourself (DIY) home improvement retailing market.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. The APAC region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What will be the growth rate of the Asia-Pacific do-it-yourself (DIY) home improvement retailing market?
A. Asia-Pacific do-it-yourself (DIY) home improvement retailing market is anticipated to grow at 5.55% CAGR during the forecast period.
Q5. What are the strategies opted by the leading players in this market?
A. New product development and strategic partnerships are the key strategies opted by the operating companies in this market.
Q6. Which industries are expected to drive the growth of the do-it-yourself (DIY) home improvement retailing market in the next 5 years?
A. Online do-it-yourself (DIY) home improvement retailing is expected to drive the growth of the do-it-yourself (DIY) home improvement retailing market in the next 5 years.
1.Research Methodology
1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters
1.4.1.Assumptions
1.4.2.Forecast parameters
1.5.Data sources
1.5.1.Primary
1.5.2.Secondary
2.Executive Summary
2.1.360° summary
2.2.By type trends
2.3.By Distribution Channel trends
3.Market overview
3.1.Market segmentation & definitions
3.2.Key takeaways
3.2.1.Top investment pockets
3.2.2.Top winning strategies
3.3.Porter’s five forces analysis
3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market
3.4.Market dynamics
3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities
3.5.Technology landscape
3.6.Regulatory landscape
3.7.Patent landscape
3.8.Pricing overview
3.8.1.by Type
3.8.2.By Distribution Channel
3.8.3.by End-Use
3.9.Market value chain analysis
3.9.1.Stress point analysis
3.9.2.Raw material analysis
3.9.3.Manufacturing process
3.9.4.Distribution channel analysis
3.9.5.Operating vendors
3.9.5.1.Raw material suppliers
3.9.5.2.Product manufacturers
3.9.5.3.Product distributors
3.10.Strategic overview
4.Do-it-yourself (DIY) home improvement retailing Market, by Type
4.1.Building Materials
4.1.1.Market size and forecast, by region, 2022-2030
4.1.2.Comparative market share analysis, 2022 & 2030
4.2.Décor and Indoor Garden
4.2.1.Market size and forecast, by region, 2022-2030
4.2.2.Comparative market share analysis, 2022 & 2030
4.3.Lighting,
4.3.1.Market size and forecast, by region, 2022-2030
4.3.2.Comparative market share analysis, 2022 & 2030
4.4.Electrical Work Materials,
4.4.1.Market size and forecast, by region, 2022-2030
4.4.2.Comparative market share analysis, 2022 & 2030
4.5.Tools and Hardware,
4.5.1.Market size and forecast, by region, 2022-2030
4.5.2.Comparative market share analysis, 2022 & 2030
4.6.Painting, Wallpaper, and Supplies
4.6.1.Market size and forecast, by region, 2022-2030
4.6.2.Comparative market share analysis, 2022 & 2030
4.7.Plumbing Materials and Equipment,
4.7.1.Market size and forecast, by region, 2022-2030
4.7.2.Comparative market share analysis, 2022 & 2030
4.8.Flooring Repair and Replacement Materials
4.8.1.Market size and forecast, by region, 2022-2030
4.8.2.Comparative market share analysis, 2022 & 2030
4.9.Outdoor
4.9.1.Market size and forecast, by region, 2022-2030
4.9.2.Comparative market share analysis, 2022 & 2030
5.Do-it-yourself (DIY) home improvement retailing Market, by Distribution Channel
5.1.Offline
5.1.1.Market size and forecast, by region, 2022-2030
5.1.2.Comparative market share analysis, 2022 & 2030
5.2.Online
5.2.1.Market size and forecast, by region, 2022-2030
5.2.2.Comparative market share analysis, 2022 & 2030
6.5.Do-it-yourself (DIY) home improvement retailing Market, by Region
6.1.North America
6.1.1.Market size and forecast, by type, 2022-2030
6.1.2.Market size and forecast, by Distribution Channel , 2022-2030
6.1.3.Market size and forecast, by country, 2022-2030
6.1.4.Comparative market share analysis, 2022 & 2030
6.1.5.U.S.
6.1.5.1.Market size and forecast, by type, 2022-2030
6.1.5.2.Market size and forecast, by Distribution Channel , 2022-2030
6.1.5.3.Comparative market share analysis, 2022 & 2030
6.1.6.Canada
6.1.6.1.Market size and forecast, by type, 2022-2030
6.1.6.2.Market size and forecast, by Distribution Channel , 2022-2030
6.1.6.3.Comparative market share analysis, 2022 & 2030
6.1.7.Mexico
6.1.7.1.Market size and forecast, by type, 2022-2030
6.1.7.2.Market size and forecast, by Distribution Channel , 2022-2030
6.1.7.3.Comparative market share analysis, 2022 & 2030
6.2.Europe
6.2.1.Market size and forecast, by type, 2022-2030
6.2.2.Market size and forecast, by Distribution Channel , 2022-2030
6.2.3.Market size and forecast, by country, 2022-2030
6.2.4.Comparative market share analysis, 2022 & 2030
6.2.5.Germany
6.2.5.1.Market size and forecast, by type, 2022-2030
6.2.5.2.Market size and forecast, by Distribution Channel , 2022-2030
6.2.5.3.Comparative market share analysis, 2022 & 2030
6.2.6.UK
6.2.6.1.Market size and forecast, by type, 2022-2030
6.2.6.2.Market size and forecast, by Distribution Channel , 2022-2030
6.2.6.3.Comparative market share analysis, 2022 & 2030
6.2.7.France
6.2.7.1.Market size and forecast, by type, 2022-2030
6.2.7.2.Market size and forecast, by Distribution Channel , 2022-2030
6.2.7.3.Comparative market share analysis, 2022 & 2030
6.2.8.Spain
6.2.8.1.Market size and forecast, by type, 2022-2030
6.2.8.2.Market size and forecast, by Distribution Channel , 2022-2030
6.2.8.3.Comparative market share analysis, 2022 & 2030
6.2.9.Italy
6.2.9.1.Market size and forecast, by type, 2022-2030
6.2.9.2.Market size and forecast, by Distribution Channel , 2022-2030
6.2.9.3.Comparative market share analysis, 2022 & 2030
6.2.10.Rest of Europe
6.2.10.1.Market size and forecast, by type, 2022-2030
6.2.10.2.Market size and forecast, by Distribution Channel , 2022-2030
6.2.10.3.Comparative market share analysis, 2022 & 2030
6.3.Asia Pacific
6.3.1.Market size and forecast, by type, 2022-2030
6.3.2.Market size and forecast, by Distribution Channel , 2022-2030
6.3.3.Market size and forecast, by country, 2022-2030
6.3.4.Comparative market share analysis, 2022 & 2030
6.3.5.China
6.3.5.1.Market size and forecast, by type, 2022-2030
6.3.5.2.Market size and forecast, by Distribution Channel , 2022-2030
6.3.5.3.Comparative market share analysis, 2022 & 2030
6.3.6.India
6.3.6.1.Market size and forecast, by type, 2022-2030
6.3.6.2.Market size and forecast, by Distribution Channel , 2022-2030
6.3.6.3.Comparative market share analysis, 2022 & 2030
6.3.7.Australia
6.3.7.1.Market size and forecast, by type, 2022-2030
6.3.7.2.Market size and forecast, by Distribution Channel , 2022-2030
6.3.7.3.Comparative market share analysis, 2022 & 2030
6.3.8.Rest of Asia Pacific
6.3.8.1.Market size and forecast, by type, 2022-2030
6.3.8.2.Market size and forecast, by Distribution Channel , 2022-2030
6.3.8.3.Comparative market share analysis, 2022 & 2030
6.4.LAMEA
6.4.1.Market size and forecast, by type, 2022-2030
6.4.2.Market size and forecast, by Distribution Channel , 2022-2030
6.4.3.Market size and forecast, by country, 2022-2030
6.4.4.Comparative market share analysis, 2022 & 2030
6.4.5.Latin America
6.4.5.1.Market size and forecast, by type, 2022-2030
6.4.5.2.Market size and forecast, by Distribution Channel , 2022-2030
6.4.5.3.Comparative market share analysis, 2022 & 2030
6.4.6.Middle East
6.4.6.1.Market size and forecast, by type, 2022-2030
6.4.6.2.Market size and forecast, by Distribution Channel , 2022-2030
6.4.6.3.Comparative market share analysis, 2022 & 2030
6.4.7.Africa
6.4.7.1.Market size and forecast, by type, 2022-2030
6.4.7.2.Market size and forecast, by Distribution Channel , 2022-2030
6.4.7.3.Comparative market share analysis, 2022 & 2030
7.Company profiles
7.1.Travis Perkins
7.1.1.Business overview
7.1.2.Financial perDistribution Channel ance
7.1.3.Product portfolio
7.1.4.Recent strategic moves & developments
7.1.5.SWOT analysis
7.2.Kesko corporation
7.2.1.Business overview
7.2.2.Financial perDistribution Channel ance
7.2.3.Product portfolio
7.2.4.Recent strategic moves & developments
7.2.5.SWOT analysis
7.3.Lowe's Companies, Inc.
7.3.1.Business overview
7.3.2.Financial perDistribution Channel ance
7.3.3.Product portfolio
7.3.4.Recent strategic moves & developments
7.3.5.SWOT analysis
7.4.Amazon.com, Inc.
7.4.1.Business overview
7.4.2.Financial perDistribution Channel ance
7.4.3.Product portfolio
7.4.4.Recent strategic moves & developments
7.4.5.SWOT analysis
7.5.Walmart Inc.
7.5.1.Business overview
7.5.2.Financial perDistribution Channel ance
7.5.3.Product portfolio
7.5.4.Recent strategic moves & developments
7.5.5.SWOT analysis
7.6.UBUY Inc.
7.6.1.Business overview
7.6.2.Financial perDistribution Channel ance
7.6.3.Product portfolio
7.6.4.Recent strategic moves & developments
7.6.5.SWOT analysis
7.7.Toolstation
7.7.1.Business overview
7.7.2.Financial perDistribution Channel ance
7.7.3.Product portfolio
7.7.4.Recent strategic moves & developments
7.7.5.SWOT analysis
7.8.Home Depot Product Authority, LLC
7.8.1.Business overview
7.8.2.Financial perDistribution Channel ance
7.8.3.Product portfolio
7.8.4.Recent strategic moves & developments
7.8.5.SWOT analysis
7.9.flipkart.com
7.9.1.Business overview
7.9.2.Financial perDistribution Channel ance
7.9.3.Product portfolio
7.9.4.Recent strategic moves & developments
7.9.5.SWOT analysis
7.10.UBYLD RETAIL PRIVATE LIMITED.
7.10.1.Business overview
7.10.2.Financial perDistribution Channel ance
7.10.3.Product portfolio
7.10.4.Recent strategic moves & developments
7.10.5.SWOT analysis
A creative mind is always on high alert for trying out and experimenting with home goods. An imaginative mind can easily come up with awesome do-it-yourself hacks that can convert a boring house into a lively one. Do-it-yourself (DIY) projects aims at creating items according to your taste and mold it to your heart’s content. DIY mostly falls in the category of home crafts and has existed since the 18th and 19th centuries, where women carried out most of the DIY projects. Some of the common examples of DIY projects are bird feeder wreath, yarn-wrapped painted jars, candles, leafy stepping stones, holder planter, and much more.
Covid-19 Impact on the Market
The do-it-yourself (DIY) home improvement retailing market is experiencing considerable growth during the Covid-19 pandemic. Lockdown across the globe pushed a majority of the DIYers towards gardening and various home improvement projects. Apart from this, the key players are focusing on business expansion in various parts of the world. For example, in December 2020, Home Depot Product Authority, LLC, has proposed to open up two new distribution hubs in Perth Amboy and New Jersey in the U.S.A, in order to fulfill the demand for sustainable delivery options from the DIYers.
Recent Developments in Do-it-Yourself (DIY) Home Improvement Retailing Market
The leading players of the global do-it-yourself (DIY) home improvement retailing market are Travis Perkins, Lowe's Companies, Inc., Kesko Corporation, Amazon.com, Inc., UBUY Inc., Walmart Inc., Toolstation, Flipkart.com, Home Depot Product Authority, LLC, and UBYLD RETAIL PRIVATE LIMITED. These players are basically opting for unique strategies such as mergers & acquisitions, new product revelations, product portfolios, and investments in research & development projects. These strategies are helping the companies in gaining an edge in the global market. For instance:
In January 2019, Kesko Corporation, a Finnish retail company, announced the acquisition of DIY retail business of the Sorbo retailer group, one of the prominent DIY retail businesses functioning in Norway. This acquisition encompasses two Byggmakker stores and B2B logistics center located in Norway.
In June 2020, Lowe, a retail company, has introduced a virtual method to offer the services of electricians, plumbers, and other contractors to the people during the Covid-19 pandemic. The professionals can utilize video chat services to connect to the customers.
In February 2021, The Home Depot, the largest home improvement retailer in the US, opened a new distribution center in Dallas, Texas with a focus on fast fulfillment of online orders. This new facility will deliver millions of online products directly to the homes of customers.
Forecast Analysis of Do-it-Yourself (DIY) Home Improvement Retailing Market
DIY projects are gaining enormous popularity amongst the people, especially the homeowners worldwide and this is one of the significant aspect that is estimated to bolster the do-it-yourself (DIY) home improvement retailing market in the coming years. According to a survey conducted by Pollfish in May 2020, around 92% of the US homeowners are likely to hire pros such as plumbers or electricians for home improvements. Furthermore, the survey indicates that 52% prefer landscaping and 54% favor painting as DIY projects. Apart from this, escalation of urbanization along with lifestyle changes is also predicted to uplift the global market in the forthcoming years. As per a report by Research Dive, the global do-it-yourself (DIY) home improvement retailing market is expected to generate a notable revenue of $1,278.0 billion by the end of 2030.
However, lack of skills and expertise in DIY business along with awareness gap regarding DIY projects in the low-income countries is estimated to hinder the market growth in the upcoming years. Whereas, growing environmental awareness is shifting the focus on creating zero-waste DIY projects. Eco-friendly DIY items are cost-effective, attractive, and sustainable to the environment. For instance, preparing a lamp out of tin cans or making plastic bag bowls are some of the effective ways to recycle waste and reuse it in an innovative way. These factors are likely to generate tremendous opportunities in the do-it-yourself (DIY) home improvement retailing market in the upcoming years. Beyond this, geographically, the North America region is projected to be most dominant by 2030 owing to several factors, such as economic recovery of countries, increasing urbanization, and changing lifestyles of buyer in the region.
There is always room for an innovative mind, which can build and create fabulous products from mere simple items. The do-it-yourself (DIY) home improvement retailing market is likely to face tremendous growth opportunities as long as there are new inventions lined up. Moreover, people’s demand for trendy goods for home décor is estimated to surge the market in the upcoming years.
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