Industry Analysis & Industry Trends
This industry primarily retails a broad range of new-home renovation equipment and supplies. Following a sharp revenue dip in 2009, the industry has been struggling to recover, despite rising consumer incomes and a property bubble from 2010 until 2013. Industry revenue has stumbled due to consumers moving away from hardware stores toward larger big-box retailers and home improvement stores. Nevertheless, the industry will experience 2.0% annualized growth during the five years to 2019, reaching $4.0 billion as a result of a growing construction industry and rising consumer incomes... purchase to read more
Industry Report - Starting a New Business Chapter
In most cases, the industry has no formal or formidable barriers to entry. It is relatively inexpensive to buy or rent space to build or furnish a storefront. However, there a number of factors specific to the industry that may affect a new operator's ability to succeed.
Potential industry operators studying whether to enter this industry will also need to consider the high level of competition from home improvement stores, as well as the growing competition from online retailers. Competition arises from the high-profile, more cost-efficient chain stores already established in the industry. Strong market dominance from big-box stores such as Rona Inc. and Home Depot that offer highly visible hardware brands makes it difficult for new entrants to attract consumers... purchase to read more