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DIY home improvement retailing market set for growth

By Retail4Growth Bureau | January 15, 2024

The Global Do-it-Yourself (DIY) Home Improvement Retailing Market is expected to reach USD 757650 Million in 2023 to USD 979880 Million by 2029 at a CAGR of 4.4%, according to a report by Valuates.

The Global Do-it-Yourself (DIY) Home Improvement Retailing Market is expected to reach USD 757650 Million in 2023 to USD 979880 Million by 2029 at a CAGR of 4.4%, according to a report by Valuates.

Major Factors Driving the Growth of Do-it-Yourself (DIY) Home Improvement Retailing Market:

The Do-it-Yourself (DIY) Home Improvement Retailing Market is predicted to grow due to rising homeownership rates, a growing DIY culture that aims to customize living spaces, and an increase in home renovation activities.

Consumers can now confidently take on do-it-yourself projects thanks to the availability of online resources and information, and cost-effective DIY solutions are preferred over professional services, says the report. The DIY movement becoming more popular as a way of life, consumer preferences shifting toward customization, and increased awareness of environmental sustainability all support the market's growth. Consumers are also inspired by social media and home improvement media, which generates demand for products that follow popular trends.

TRENDS INFLUENCING THE GROWTH OF DIY HOME IMPROVEMENT RETAILING MARKET

The Do-it-Yourself (DIY) culture and larger homeownership trends are closely related to the rise of the DIY home renovation retailing industry. The urge to improve and customize living spaces is rising in tandem with the number of people who are becoming homeowners. Do-it-yourself home renovation projects provide homeowners the opportunity to actively design their living spaces, which increases demand for a variety of retail goods and supplies. The increase in house remodeling projects is a significant driver of the DIY home improvement retailing business. The growing trend of homeowners remodeling or upgrading their homes has resulted in a significant increase in the demand for do-it-yourself items and supplies.

Valuates Reports logoThe market for DIY home improvement commerce is expanding due in large part to the ease of access to knowledge and internet resources. Homeowners now have easy access to instructions, tips, and product information online, equipping them to undertake DIY projects with confidence. This abundance of knowledge has increased demand for retail items as people want to put their newly acquired abilities to use, while simultaneously growing the DIY client base.

The need for cost savings and economic factors play a major role in the rising popularity of do-it-yourself home renovation projects. As a more affordable option than hiring experts, a lot of homeowners decide to do it themselves. The affordable selection of goods, equipment, and supplies offered by do-it-yourself stores appeals to clients on a tight budget who want to accomplish their home renovation projects without

The DIY home repair retailing sector is expanding due in part to consumer tastes that are shifting towards more personalized and customized living environments. People may customize their houses to reflect their specific interests and likes by doing do-it-yourself projects. Shops may take advantage of this trend by providing a large selection of items that can be customized, creating a consumer-driven market that values uniqueness and creativity.

For many people, DIY home remodeling has transformed from a need to a hobby and way of life. Taking part in practical tasks provides a creative outlet and a sense of accomplishment. Shops have responded to this change by carefully selecting products that fit the leisure component of do-it-yourself projects, encouraging not just practical upgrades but also pleasurable and rewarding experiences.

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