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Global home improvement sales will grow by 6.4 per cent in 2021

Euromonitor International expects hat the CAGR (compound annual growth rate) of the global home improvement industry from 2020 to 2024 will be 3.5 per cent according.

Euromonitor International expects hat the CAGR (compound annual growth rate) of the global home improvement industry from 2020 to 2024 will be 3.5 per cent according.

In some countries around the world, the effects of Covid-19 caused sales to rise significantly during 2020. Stefano Botter of Euromonitor International referenced this phenomenon in his online presentation on the Global DIY Network, citing a number of examples: 8.1 per cent in Australia, 4.1 per cent in the Netherlands and 1.8 per cent in South Korea. Even the modest increase of 1.0 per cent in the USA is regarded by Botter as one of the positive figures in view of the dramatic consequences of the pandemic in the world's biggest DIY market.

This contrasts with huge losses in retail value sales in the home improvement sector in other countries: minus 28.6 per cent in India, minus 10.2 per cent in South Africa, and minus 6.9 per cent in Brazil.

Euromonitor International expects a fast recovery for the sector worldwide in 2021 that will offset the 2020 losses, however. For 2021, market researchers are expecting global sales by home improvement retailers amounting to USD 289.2 bn, thus foreseeably 6.4 per cent more than in 2021. The CAGR (compound annual growth rate) from 2020 to 2024 will be 3.5 per cent according to this scenario.

|14 December 2020 | 12:42


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