Fast Market Research recommends "Home Improvement in South Africa" from Euromonitor International, now available
Boston, MA -- (SBWIRE) -- 11/28/2014 -- South Africans traditionally rely on paid labour to carry out large home improvement tasks. The perception of home improvement in South Africa is also greatly influenced by levels of income. High-income consumers are likely to hire professionals to carry out home improvement tasks, such as painting, changing wall and floor coverings. Middle-income consumers also rely on home improvement professionals; however, the increasing labour costs are motivating these consumers to engage in DIY activities. Lower income consumer groups carry out home improvement tasks or hire friends who are predominantly hired for home improvement projects by middle- and high-income consumers at a minimal charge.
The local entity Eureka DIY Solutions continued to dominate the home improvement category in 2013 with a value share of 8%. The company?s category share was driven by its strong presence within the hardware category in which it held a 41% share in 2013. The hardware category is highly fragmented, with many small players, predominantly family-owned entities. Apart from Eureka DIY Solutions, most industry participants continue to lack marketing strategies. Competition within this category continues to intensify as a result of the aggressive expansion of cheaper private label products. In fact, private label is expected to account for the bulk of hardware value sales in the foreseeable future.
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Home improvement is expected to grow by a CAGR of 2% in value sales at constant 2013 prices between 2013 and 2018 to reach ZAR11.5 billion. Despite expected growth, South African consumer confidence is expected to remain subdued as a result of rising household indebtedness.