DIY Home Improvement Market size was estimated at $11 Million in 2019 and is expected to reach $35 Million by 2027, growing at a CAGR of 18% during the forecast period of 2020 to 2027.
Humans have fickle-minded preferences, which fluctuates now and then. To suit their dangling demands, someone who can abide by all are they, themselves and this is made possible by DIY home improvement Market. It has enabled people to Modernise and improve their houses by DIY home improvement equipment and tools.
The market has incurred a huge flux in recent years as it saves the people from labour costs, provides the ease of online stores to buy Home improvement knick-knacks. It also embarks a sense of customizability of the owner and a touch of preference. The DIY interior designing has gained market value due to improved lifestyles with people willing to have posh living areas and spacious decoratives. The global market for DIY home improvement has widened in exposure due to demands of convenient, low-cost and eye-pleasing Home improvement products.
Offline stores are adding a personalised touch to attract customers, both big and small stores are gaining customer base in huge numbers. The latest home improvement products are manufactured with high-end technology, latest trends and taking into consideration the greater good of the environment. This has led to a further surge in demands. On the contrary, the inadequate number of experts involved in manufacturing Home improvement products and lack of understanding about preferred trends has pulled down the growth of the Target market. As the market revolves around the DIY notion, The idea of reusability and sourcing from scratch should prevail, however, the lack of the same is persisting causing a dip down in the market. Adding young and bright minds who can fetch great ideas for DIY home improvement products can attract customers, reviewing budgets and adding technology-induced products to suit the need of daily life can also help in the growth of the global market.
Toolstation, a DIY home Improvements solution provider, announced the opening of its 400th branch in UK in January 2020. The company added that they have devised plans for establishing another 60 in the year 2020. The director told the authorities that 2020 is set to be another year for the expansion of their enterprise.
Ace Hardware, providing home improvement solutions for many years, got its approval for expansion of its business from Blair Council across the country. Lowe’s has introduced a new AR video chat tool named ‘Lowe’s for Pros JobSight’ which enables professionals to virtually visit homeowners.
Walmart is reopening its stores all over Chicago after a long period of closings on 26 June 2020. The CEO of Walmart said that they are not only reopening stores but are also investing more into the community. Wickes, Home Improvement innovative ideas provider, has launched a new product ‘Build-Your-Own Garden Bar’ contributing much to the DIY industry. ServiceLink, a tech provider, has launched a new technology ‘EXOS Inspect’ for DIY home owners. This technology allows the homeowners a DIY home inspection.
