Similar to the case with gardening, demand for home improvement products in Mexico has historically been undermined by the relatively weak state of the local DIY culture. Busy lifestyles and the widespread availability of cheap labour mean that many Mexicans still prefer to hire outside contractors for home improvement projects rather than undertake such tasks themselves. Consumer attitudes are gradually changing, however, as evidenced by the fact that home improvement current value sales grew steadily throughout the review period. One of the main reasons for this change is the emergence of specialist retail chains like Home Depot, which have exposed consumers to an increasingly wide assortment of home improvement products and inspired many to take on basic and more complicated DIY projects themselves. The willingness to undertake such projects has been further strengthened by the success of INFONAVIT's 'Renueva tu Hogar' (Renew Your Home) programme, which offers homeowners affordable loans for home repair and renovation projects.
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Competitive Landscape
Home improvement remained highly fragmented in 2013, with multiple players competing in all categories. Consorcio Comex was the overall leader with a value share of 7%. This was mainly due to its commanding lead in home paint, where it ranked first in decorative paint and second in lacquer and varnish thanks to its Comex brand. It also claimed third place in decorating sundries. Key to the success of this company is a unique distribution model based on a nationwide network of franchise outlets that only sell Comex products. Moreover, the Comex umbrella brand has a longstanding reputation for offering good quality at a reasonable price, and the company frequently updates its product ranges in response to new seasonal colour trends. Truper Herramientas was the second leading home improvement player with an overall value share of 5%. Offering a wide assortment of product types and models under its Truper and Pretul brands, the company dominated hand tools and finished third in power tools. Other prominent competitors in home improvement included Black & Decker SA de CV, Robert Bosch S de RL de CV, Makita Mexico SA de CV, Teka Mexicana SA de CV and American Standard B&K Mexico S de RL de CV.
Industry Prospects
The outlook for home improvement over the forecast period is broadly favourable, with growth in total value sales at constant 2013 prices expected to surpass that recorded during the review period. Population growth and economic improvements will bolster the development of the entire category, as these trends will support further growth in the total number of households in Mexico, and increased spending on the renovation of older homes, most notably via INFONAVIT's 'Renueva tu Hogar' (Renew Your Home) programme. Moreover, the category will benefit from the continued expansion of major specialist retail chains offering extensive assortments of home improvement products at competitive prices. The expansion of such chains will encourage more consumers to undertake minor home improvement projects themselves instead of hiring contractors. That said, the local DIY culture will remain relatively weak overall, and this will continue to hamper demand for many types of home improvement products.
Home Improvement Market ResearchAnalyse key trends and developments in Mexico for all product categories, competitors and channels.
Evaluate the market position and financial performance of the leading national and international market players.
Product coverage: Bathroom and Sanitaryware, Decorating Sundries, Floor Covering, Hand Tools, Hardware, Home Paint, Kitchen Sinks, Other Home Improvement, Power Tools, Wall Covering.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
Report Table of Contents:
HOME FURNISHINGS IN THE US
LIST OF CONTENTS AND TABLES
Headlines
Trends
Competitive Landscape
Prospects
Category Data
Table 1 Sales of Home Furnishings by Category: Value 2008-2013
Table 2 Sales of Home Furnishings by Category: % Value Growth 2008-2013
Table 3 NBO Company Shares of Home Furnishings: % Value 2009-2013
Table 4 LBN Brand Shares of Home Furnishings: % Value 2010-2013
Table 5 Distribution of Home Furnishings by Format: % Value 2008-2013
Table 6 Forecast Sales of Home Furnishings by Category: Value 2013-2018
Table 7 Forecast Sales of Home Furnishings by Category: % Value Growth 2013-2018
Executive Summary
Home and Garden Sales Begin To Plateau After Rebounding
Urban Living Is Having An Impact
Mergers and Acquisitions Alter the Competitive Environment
Specialty Retailers Push Their Internet Offerings
Home and Garden Waiting for Growth To Gain Momentum
Key Trends and Developments
Tepid Recovery Hampers the Post-recessionary Rebound
Specialty Retailers Move on Many Fronts
Demographic Shifts Have Greater Impact
Market Data
Table 8 Sales of Home and Garden by Category: Value 2008-2013
Table 9 Sales of Home and Garden by Category: % Value Growth 2008-2013
Table 10 NBO Company Shares of Home and Garden: % Value 2009-2013
Table 11 LBN Brand Shares of Home and Garden: % Value 2010-2013
Table 12 Distribution of Home and Garden by Format: % Value 2008-2013
Table 13 Forecast Sales of Home and Garden by Category: Value 2013-2018
Table 14 Forecast Sales of Home and Garden by Category: % Value Growth 2013-2018
Sources
Summary 1 Research Sources
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