Home Improvement Stores in Canada - Industry Market Research Report

This old house: Industry retailers will increase their service offerings to remain competitive

Operators in the Canadian Home Improvement Stores industry cater to a wide variety of markets, including professional, do-it-for-me (DIFM) and do-it-yourself customers (DIY). Industry players offer a broad range of products aimed at improving existing structures and constructing new ones. While the industry is heavily reliant on the health of the overall economy, industry performance is also dependent on dynamics in construction-related markets. Over the past five years, volatile construction markets and external competition have become more prominent, posing a threat to industry operators. Despite the coronavirus hindering consumer confidence, industry revenue grew in 2020. As a result, industry revenue is expected to increase at a CAGR of 3.1% to $36.9 billion over the past five years, including a decrease of 4.2% in 2023 alone. The Home Improvement Stores industry in Canada sells a range of home repair and maintenance goods, such as hardware tools, electrical goods, lumber and structural material for construction and renovations. Operators purchase goods from domestic and international manufacturers and wholesalers and sell them to end users, such as do-it-yourself consumers and professional contractors. Stores that focus on a specific area, such as flooring or wall coverings, are excluded from this industry. 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.