"Home Improvement in Mexico" now available at Fast Market Research

From: Fast Market Research, Inc.
Published: Sun Aug 30 2015

Improving homes in Mexico is a job mostly considered to be done by specialists whom consumers pay to do "the hard work" of such tasks. Thus, demand for home improvement products has been undermined by the relatively weak state of the local DIY culture, while busy lifestyles and the widespread availability of cheap labour mean that many Mexicans still prefer to hire outside contractors. Nonetheless, consumer attitudes are gradually changing to benefit the DIY culture, a situation driven strongly by the growth of specialist retailers such as The 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. These specialist retailers have taken the lead in inviting consumers to take part in courses designed to encourage consumers to undertake some home improvement tasks themselves. Additionally, home improvement has been strengthened by the success of INFONAVIT’s Renueva Tu Hogar (Renew Your Home) programme, which offers homeowners affordable loans for home repair and renovation.

Full Report Details at
- http://www.fastmr.com/prod/1038527_home_improvement_mexico.aspx?afid=301

Competitive Landscape

The competitive environment in home improvement is highly fragmented and no company reached a double-digit value share during 2014. However, the leading company in the category is Consorcio Comex SA de CV, which accounted for a 7% value share and was closely followed by Truper Herramientas SA de CV, which accounted for 5%. Consorcio Comex benefits from its unique distribution model, which is based on a nationwide network of franchise outlets that only sell Comex products. Moreover, the Comex umbrella brand has a long-standing reputation for offering good quality at a reasonable price, and Consorcio Comex frequently updates its product ranges in response to new seasonal colour trends. Also, ecological innovations have come mainly from the company. Truper Herramientas offers a wide assortment of product types and models under its Truper and Pretul brands; the company dominates hand tools, ranks highly in power tools and is always innovating new tools and technologies for its consumers.

Industry Prospects

Home improvement growth looks more modest over the forecast period, as a value CAGR of 2% at constant 2014 prices is expected, and sales are set to reach Mx$26.5 billion in 2019. Thanks to the recent reforms made by Mexico’s president, Enrique Peña, over the forecast period strong budgets are expected to be allocated to home construction, thus benefiting home furnishings, and in turn home improvements. Mexico’s main loan government dependency, INFONAVIT, has new policies that have enabled it to increase loans for acquiring homes, and such loans are becoming available to more consumers. This situation is expected to lead to more home acquisitions over the forecast period, which will boost home improvement.

Home Improvement Market Research

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Contact Name: Bill Thompson
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