PROSPECTS AND OPPORTUNITIES
Pet shops and superstores to perform well despite challenges from e-commerce and subscription models
As in 2024, anticipated small increases in the number of pet shop and superstore outlets are unlikely to offset a downturn in the numbers of home improvement and gardening stores and homewares and home furnishing stores in the forecast period. Pet shops is also set to see the best performance in terms of retail value (constant 2024 prices) growth in percentage terms.
Home improvement and gardening stores to see a stable demand due to maintenance and small repair needs
Over the forecast period, specialist retailers like Home Depot and Lowe’s are likely to see a stable demand for products related to essential home maintenance and small repair projects. Large-scale renovation projects may slow down due to economic uncertainty, but homeowners are expected to continue to invest in maintaining their properties.
Growing interest in sustainable and ethical home furnishing
Sustainability is predicted to remain a key trend in terms of home furnishing. Specialist retailers like Ikea and Crate & Barrel are likely to expand their eco-friendly furniture and homewares collections, in an attempt to capitalise on the growing demand for sustainable and ethically sourced products.
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Overview:
Understand the latest market trends and future growth opportunities for the Home Products Specialists industry in Canada with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Home Products Specialists industry in Canada, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Home Products Specialists in Canada report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Home Products Specialists in Canada?
- Which are the leading retailers in Home Products Specialists in Canada?
- How is the rise of e-commerce and the expansion of modern grocery retail impacting traditional retail?
- How has the impact of COVID-19 and national lockdown impacted consumer demand?
- Which formats have benefited the most from stockpiling and enforced home seclusion?
- How will the wider economic impact of COVID-19 shape the retail landscape in the future?
- Where is future growth expected to be most dynamic?
Home Products Specialists in Canada - Category analysis
KEY DATA FINDINGS
Pet shops and superstores push growth opportunities through services and experiential retail
Homewares and home furnishing stores suffer from post-pandemic slowdown in spending on higher-end furniture
Ikea adapts as e-commerce platforms challenge homewares and home furnishing stores
Pet shops and superstores to perform well despite challenges from e-commerce and subscription models
Home improvement and gardening stores to see a stable demand due to maintenance and small repair needs
Growing interest in sustainable and ethical home furnishing
Retail in Canada - Industry Overview
Retail in 2024: The big picture
Seamless shopping with the rise of omnichannel experiences in retail in 2024
Health and wellness takes centre stage in 2024
What next for retail?
Informal retail
Opening hours for physical retail
Seasonality
New Year’s Day
Valentine’s Day
Easter
Mother’s Day
Father’s Day
Canada Day
Back-to-School
Thanksgiving
Halloween
Black Friday
Cyber Monday
Christmas
Boxing Day
DISCLAIMER
The following categories and subcategories are included:
Home Products Specialists
- Home Improvement and Gardening Stores
- Homewares and Home Furnishing Stores
- Pet Shops and Superstores
Home Products Specialists
The aggregation of home improvement and gardening stores, homewares and home furnishing stores, and pet shops and superstores.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Home Products Specialists research and analysis database.
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