New Consumer Goods research report from Euromonitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 06/27/2014 -- Home improvement remains a major home and garden category in Turkey. As the cost of contracting tradesmen to perform home improvement tasks remains very low in Turkey, many householders grateful to have access to such professional services at low cost rather than needing to perform these tasks themselves. While low-income households often undertake tasks such as painting walls and making small repairs on their own, middle-income and high-income households tend not to trust these types of jobs to themselves as they are often detached from manual labour. Nevertheless, there remains a growing trend towards DIY home improvement in Turkey, not because consumers are keen to avoid having to pay for professional home improvements services, but because they simply want to engage with home improvement as a hobby. Many consumers are not confident about their skills and abilities, even when it comes to minor tasks such as making small repairs and improvements.
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Home improvement in Turkey remained under the leadership of Kaleseramik Canakkale Kalebodur Seramik San AS, the company behind the Canakkale, Seramik and Kalebodur brands. Kaleseramik managed an 8% value share in 2013. Kalebodur is one of the oldest brands offering ceramic tiles in Turkey and it remains by far the largest local manufacturer of ceramic tiles in the country. The company takes great care to ensure that it keeps abreast of changing consumer needs and preferences and invests heavily in the design aspects of its products so as to create and maintain a strong difference in the eyes of consumers. The company increased its value sales in home improvement by 9% during 2013.
Home improvement in Turkey is expected to increase in value at a CAGR of 1% in constant 2013 terms over the forecast period, an improvement on the -2% value CAGR recorded in the category in constant 2013 terms over the review period. However, it does also represent a slowdown from the value growth rates recorded during 2012 and 2013 in constant 2013 terms. This slight slowdown is set to be due to the onset of a new economic recession, which is expected to influence a number of developing countries during the early stages of the forecast period, including Turkey. The political crisis which struck Turkey during December 2013 triggered the onset of turbulence in the country?s economy, causing the exchange value of the Turkish lira to decline against foreign currencies. Turkish consumers are thus likely to postpone their home renovation projects until consumer confidence returns to 2012 and 2013 levels, which is unlikely to be before the end of 2015. Home improvement is thus expected to record faster growth from 2016.
Home Improvement Market Research
Analyse key trends and developments in Turkey for all product categories, competitors and channels.
Evaluate the market position and financial performance of the leading national and international market players.
Product coverage: Bathroom and Sanitaryware, Decorating Sundries, Floor Covering, Hand Tools, Hardware, Home Paint, Kitchen Sinks, Other Home Improvement, Power Tools, Wall Covering.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
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