Home products specialists saw modest current value growth in South Africa in 2024. With South African households facing rising living costs, middle-income households increasingly experienced difficulties, having accumulated significant asset-backed debts such as mortgages and vehicle financing during the pandemic at significantly low interest rates, with repayments now set at a 15-year high interest rate. As a result, more households adopted a cautious approach to spending, leading to relatively

Despite a second consecutive year of value sales decline in 2024, sales through home improvement and gardening stores in Germany remained higher than pre-pandemic levels. In addition, the rate of decline was slower than the previous year, and less severe compared to homewares and home furnishing stores. However, products purchased from this channel requiring higher investment faced greater challenges due to an unstable economy. In addition, unfavourable weather conditions in 2024 placed addition

In 2024, home products specialists in Morocco benefited from increased government and private investment in construction and renovation projects. These efforts were largely shaped by key national events and recovery initiatives, including the reconstruction programme for regions impacted by the Al Haouz earthquake and preparations for the 2025 Africa Cup of Nations and the 2030 FIFA World Cup. Despite the DIY concept still being relatively unfamiliar to most Moroccan households, chained home imp

2024 saw pet shops continue to rise within home products specialists in Mexico, with the country being one of the leaders in terms of functional foods for pets; about 70% of Mexican households have pets as of 2024. In light of this, Mars Petcare is investing MXN3.5 billion in its plant in Querétaro, becoming the largest wet pet food production plant in the world. Longtime player +Kota announced bankruptcy in 2023, with most stores being shut down between 2023 and 2024, and this has opened the do

Home improvement and gardening stores saw a further decline in sales in current value terms in 2024, continuing the downturn in fortunes after the strong growth seen during the pandemic. Consumers still looked to maintain a well-kept home with regular quick and easy fixes, but with the pandemic over and consumers spending more time away from the home they had less time to spend on more significant home improvements or maintenance tasks. Additionally, the financial strain and uncertainty created

Homewares and home furnishing stores recorded strong growth in current value terms in 2024, largely driven by high inflation and resultant price increases. However, in constant value terms, performance was more modest due to subdued consumer confidence and shrinking disposable incomes. Home improvement stores struggled the most, with declining outlet numbers amid cautious consumer spending. In contrast, demand for furnishings persisted among affluent urban consumers, supported by growing urbanis

Home products specialists in India saw solid current value growth in 2024, along with an increase in outlet numbers, with all channels experiencing growth. Retailers are increasingly adopting omnichannel strategies to blend online and offline experiences. Ikea India Pvt Ltd, for instance, has enhanced its e-commerce platform, while also expanding its physical presence with smaller format stores in cities such as Mumbai and Bengaluru. This approach allows customers to explore products digitally a

Value sales of home products specialists in the United Arab Emirates continued to steadily grow in 2024, fuelled by the local market’s expanding population which was partly boosted by an influx of affluent expatriates. The channel also benefited from a further increase in outlet numbers, thereby enhancing market penetration. Players looked to diversify their sustainable product offerings, with a view to leveraging improving economic conditions in the coming years that will potentially encourage

In 2024, economic constraints and currency devaluation prompted more Egyptian consumers to shift towards local markets and independent home specialty stores. Neighbourhoods such as Nozha, Nasr City, and Downtown Cairo have become increasingly popular for their culturally resonant and cost-effective offerings – from ceramic dinnerware to oven-safe bakeware – often priced significantly below international alternatives. These outlets provide a vital alternative for households affected by shrinking

Homewares and home furnishing stores in the UK experienced another year of value sales decline in 2024, highlighting ongoing challenges in the local market. Elevated inflation rates throughout the year led to increased costs of raw materials, resulting in higher retail prices for home furnishings. This price escalation deterred consumers, particularly those already facing financial constraints. Instead, an increasing number of them turned to second-hand furniture and sustainable alternatives, dr

Home products specialists continued to post a small decline in 2024 due to multiple factors. Low consumer confidence led to reduced discretionary spending, while the market also faced a natural slowdown following strong pandemic-driven growth when consumers heavily invested in their homes. As a result, demand has softened, with fewer large-scale home improvement purchases and a shift in spending priorities. Additionally, players faced increasing competition from e-commerce with consumers becomin

Home products specialists saw current value growth in Ukraine in 2024 despite the challenges of wartime. Large retailers such as Epicentr, which remained the clear leader in overall home products specialists, were actively expanding their presence by opening new store formats, including Epicentr Express, which provide convenient access to home improvement products. Jysk continued to update its stores to modern concepts, improving the customer experience. At the same time, Ukrainian brands such a

Overall, home products specialists in the Czech Republic registered a marginal increase in outlet number and good, if slower, retail current value growth in 2024. The largest category, home improvement and gardening stores, experienced growing demand as the economic situation and material costs stabilised. Many households postponed or delayed projects as costs rose in the second half of the review period. High inflation rates pushed up prices, making many materials too expensive. This dampened t

Japan’s location at the intersection of several tectonic plates makes it highly susceptible to earthquakes, with some major seismic events occurring in cycles of hundreds of years. One such event is the anticipated Nankai Trough Earthquake, which could devastate the middle to southern Pacific coast, including significant metropolitan areas such as Nagoya. A 2020 government report indicated a 70-80% probability of this earthquake happening within the next three decades, instilling a persistent se

In 2024, retail value sales in home product specialists increased by 1%. Slovak households demonstrated a reluctance to spend on non-essential items, resulting in a strong demand for price deals and discounts. Promotional activities and loyalty programs continued to attract consumers to stores; however, price became the primary factor influencing purchasing decisions. Fewer consumers were willing to spend extra money without clear added value or features. That said, demand for premium products w

Despite seeing a slight decline in outlet numbers in 2024, home products specialists in South Korea experienced current value growth in this year, driven by increasing consumer interest in home improvement and lifestyle enhancement. Home improvement and gardening stores saw an uptick in sales, benefiting from a slightly improved housing market and a growing consumer focus on DIY renovations and outdoor spaces. Homewares and home furnishing stores also expanded, as more consumers sought affordabl

Home products specialists in Australia recorded a weak performance in 2024, driven by the value sales decline of home improvement and gardening stores, which dominates the channel. On the other hand, homewares and home furnishing stores recorded flat growth during the year, as many consumers delayed large purchases due to the elevated cost of living in the country.

Home products in Singapore was supported in part by rising pet ownership in 2024, which has been on an upward trajectory throughout the review period. Growth in pet ownership supported by an expanding ‘pawrents’ movement wherein consumers see their pets as not just animals, but equal members of the family. This trend became even more evident following the pandemic, which caused many people to spend significantly more time at home. The emotional benefits of pet companionship gained new prominence

Home products specialists saw value sales stagnate in current terms in Indonesia in 2024, Home improvement and gardening stores experienced further growth, at a slightly higher rate than in the previous year. Indeed, each of the top four players in the category experienced positive value sales growth. The leader, Ace Hardware, was the most dynamic major player during the year.

Consumer demand for home products is being driven by urbanisation, the steady rise in average disposable income, and more diversified offerings in homeware and furniture stores. The Saudi government continues to invest in residential homes to reach the targeted 70% home ownership by 2030. As more people move into new homes or renovate existing ones, the demand for home products and the need for expert advice in selecting and installing these products has increased. Consequently, homewares and ho

Value sales of homewares and home furnishing stores in Hong Kong stagnated in 2024 following a strong decline the previous year, with many consumers becoming more cautious with their discretionary spending. This was particularly relevant as they had already made significant investments in these products at the height of the pandemic when they looked to add decorative touches to the home to create a pleasant living environment.

Financial pressures continued to be the primary barrier to spending in New Zealand’s home product specialists over 2024. For the first time since the pandemic, annual inflation in 2024 sat within the country’s target band at 2.2%. Although consumer price inflation slowed there was still ongoing stickiness in domestic prices. Consumers remained very careful with how they spend their money as they try to manage their finances. Discretionary spend and larger purchases like home products were delaye

Home products specialists in Vietnam record a positive growth rate in both current value sales and the number of outlets in 2024, despite a challenging economic environment. Consumers are increasingly inclined to save money and restrict spending on items they perceive as non-essential. An emerging habit of waiting for discounts or deals during company livestreams has also made consumers more price sensitive. As shoppers often anticipate significant markdowns ranging from 50% to 70% before making

Home products specialists achieved small positive value sales in Portugal in 2024, which are expected to remain stable around this rate of growth over the forecast period. Growth is, however, at a lower level than seen over the recent review period, due to consumers’ disposable incomes and spending power being disrupted by the recent inflationary pressures. Added to which, many consumers invested in their home environments during the era of the pandemic lockdowns, meaning a lower need for furthe