Home and Garden Specialist Retailers in Sweden - New Market Study Published

When Swedish consumers believe in bright economic prospects, it is always most apparent within home improvement and gardening stores and homewares and home furnishing stores. In 2014 both categories experienced a boost in terms of value sales, which continued in 2015. Home and garden products are considered comparatively capital-intense goods. As such, consumers only invest in these types of products when times are good and when the prospects look encouraging. Home and garden specialist retailers started to experience an upswing in performance in 2013, and the figures for 2014 and 2015 were also encouraging.

Competitive Landscape

The competitive landscape within home and garden specialist retailers is highly fragmented. There is only one company with a value share over 10%, which is the internationally well-known Swedish low-priced giant IKEA, which accounted for a 16% value share in 2015. Following two years of declining value sales, IKEA experienced a notable boost in 2014 and 2015, augmenting its value share marginally despite the intense competition. The company has attributed the improvement to having more employees in its stores, its new kitchen system Metod and increased availability through its online store. Its struggles at the beginning of the review period were mainly a consequence of intense competition from other players, such as JYSK, Mio and Hemtex.

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Industry Prospects

Home and garden specialist retailers is projected to see a value CAGR of 2% at constant 2015 prices over the forecast period, which is a one percentage point improvement compared with the review period CAGR. This is a comparatively strong development, given the highly mature nature of the home and garden environment in Sweden. The improved performance can predominantly be attributed to the better economic outlook and rising consumer confidence. Following a few years of economically stringent or uncertain times, when consumers avoided capital-intense purchases such as larger home and garden products, Swedish consumers are expected to spend more time and money investing in their homes over the next five years. The price competition is considered highly likely to continue over the forecast period. The same goes for the strong DIY trend, which will continue to benefit the larger established players, as consumers appreciate the convenience of one-stop-shopping

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Home and Garden Specialist Retailers industry in Sweden with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

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