- Do it yourself, also known as DIY, can be referred to building or fixing things by oneself, especially in their own house. DIY is a method wherein individuals use raw and semi-raw materials and parts to create, transform, or rebuild material possessions, containing those drawn from the natural environment. DIY is influenced by several reasons, such as need for customization, economic benefits, lack of product availability in the market, and identity enhancement consisting craftsmanship, among others factors.
Key Drivers of Global Do-it-yourself Retail Product Market
- Small-scale players are manufacturing do-it-yourself products, which are cost-effective. E-commerce companies are providing opportunities for these players to sell their products on the global retail platform. Thus, growing availability of low-cost do-it-yourself products will create a significant impact on the global market.
- Global do-it-yourself retail product market is expected to expand at a high rate during the forecast period due to its popularity among baby boomers and millennials. Easy shopping methods for baby boomers are anticipated to fuel market growth.
Expanding E-commerce Industry to Offer Attractive Opportunities
- Increase in launch of e-commerce portals will create significant opportunities for the global do-it-yourself retail product market. Consumers are inclined towards purchasing apparels, educational books, and cosmetic products from online channels. In the home décor industry, companies are launching smartphone applications assisting consumers with exact furniture measurement. Moreover, technological advancements are likely to boost market growth.
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Do-it-yourself Retail Product Market in Asia Pacific to Expand Rapidly
- In terms of region, the global do-it-yourself retail product market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)
- North America country-level analysis features the U.S., Canada, and Rest of North America. Europe comprises major markets such as the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes do-it-yourself retail product market analysis and forecast of GCC, South Africa, and Rest of Middle East & Africa. South America do-it-yourself retail product market has been studied for Brazil and Rest of South America.
- Europe and North America are the major markets for do-it-yourself retail products and are likely to remain significant during the forecast period. However, this market in Asia Pacific is projected to expand at a rapid rate during the forecast period, as emerging countries, such as India and China, are the major consumers of do-it-yourself retail products and are witnessing rapid expansion of skin & personal care industry and fashion industry.
Key Players Operating in Global Market
The global do -it-yourself retail product market is fragmented due to a large number of small- and large-scale players operating at global and domestic levels. Players are adopting several business strategies, including product innovation & expansion as well as mergers & acquisitions. These strategies are likely to boost their market share.
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Some of the key players operating in the global do-it-yourself retail product market are:
- com, Inc.
- Home Depot Product Authority, LLC.
- Inter IKEA Systems B.V.
- Kingfisher group
- Maxeda DIY Group