Do-it-yourself Retail Products: Introduction
- 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.
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. 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
Global Do-it-yourself Retail Product Market: Research Scope
Global Do-it-yourself Retail Product Market, by Product Type
- Food & Beverages
- Jewelry & Accessories
- Home Décor & Furnishings
- Beauty & Personal Care
- Others (art & craft, electric work, etc.)
Global Do-it-yourself Retail Product Market, by Distribution Channel
Global Do-it-yourself Retail Product Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
The report on the global do-it-yourself retail product market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.