Industry Analysis & Industry Trends
In the five years to 2016, the Hardware Stores industry experienced a heightened level of revenue volatility perpetuated by increased internal and external competition. However, positive changes in per capita disposable income have been encouraging consumers to increase discretionary spending, especially on residential renovation projects. In the next five years, the industry will experience growth due to a recovering housing market and increased consumer spending... 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