PROSPECTS AND OPPORTUNITIES
An increase in VAT and fewer housing projects is set to challenge growth in 2025
In 2025, the Slovak government plans to increase the value-added tax on home products from 20% to 23%. This change is expected to dampen demand in 2025 and lead to further price increases, a situation that will likely be met with concern due to previous inflation.
Pet stores and superstores will benefit from a rise in ownership and the pet humanisation trend
Pet stores and superstores is projected to experience a strong retail value uplift across the forecast period. As the population ages and purchasing power improves in the coming years, the desire for pet companionship is likely to increase.
Premiumisation and a return to renovations will support long-term growth
Premiumisation is expected to become a significant trend in home products over the forecast period, especially after 2026, when the real purchasing power of Slovak households is anticipated to improve. There is expected to be a rising demand for high-quality, durable products that combine traditional materials with modern technology, such as smart home innovations.
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Overview:
Understand the latest market trends and future growth opportunities for the Home Products Specialists industry in Slovakia 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 Slovakia, 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 Slovakia 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 Slovakia?
- Which are the leading retailers in Home Products Specialists in Slovakia?
- 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 Slovakia - Category analysis
KEY DATA FINDINGS
Price deals and discounts drives sales during a price sensitive period
A slowdown in new home constructions dampens sales from home product specialists
Rising competition from retail e-commerce as consumers seek the best value
An increase in VAT and fewer housing projects is set to challenge growth in 2025
Pet stores and superstores will benefit from a rise in ownership and the pet humanisation trend
Premiumisation and a return to renovations will support long-term growth
Retail in Slovakia - Industry Overview
Retail in 2024: The big picture
Retailers offer added-benefits, deals and discounts to drive sales
Leading players focus on consolidation to prioritise efficiency
What next for retail?
Informal retail
Opening hours for physical retail
Seasonality
Christmas
Easter
Back to School
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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