Hardware Stores in Canada
The Hardware Stores industry in Canada retails a variety of building and home renovation supplies to professional contractors and consumers. The industry is characterized by its homogeneous products, which lead to a high level of price-based competition among the many small players in the industry. Over the five years to 2019, a strong performance in construction markets and an outbreak of private spending on home improvements have resulted in a lucrative market for industry operators despite rising external competition. Most industry demand derives from consumers working on do-it-yourself (DIY) projects, with the remaining demand coming from do-it-for-me (DIFM) projects and professional contractors. Over the five years to 2019, industry operators expanded their offerings to include complementary products, such as lawn, garden and farm supplies, to attract more DIY consumers. Over the five years to 2024, industry revenue growth is expected to slow.
This industry primarily retails a broad range of new-home renovation equipment and supplies. Hardware, plumbing, electrical and paint-related tools are the most commonly stocked goods. Consumers purchase about 90.0% of the goods supplied by this industry for private use, while contractors purchase a small share of goods for commercial use.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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