Report: Amazon's impact on the hardware industry
New report sees a booming DIY home improvement market turning online for products.
One Click Retail (www.oneclickretail.com) has published an article, called "Tools & Home Improvement: The Amazon Effect" on its website.
Author Nathan Rigby, VP of Sales and Marketing at One Click Retail, writes that the home improvment industry, once dominated by contractors and sub-contractors, in recent years has experienced a major shift toward DIY. Digital toolkits have inspired Do-It-Yourselfers, as anyone can now teach themselves the finer points of home renovations and general repairs on YouTube.
Not only are consumer behaviors shifting rapidly away from hiring professionals to complete home improvements, but these consumers are already going online to learn how to do it themselves.
Amazon.com's share of the American Tools & Home Improvement market is relatively low, but consistent with the retailer's performance in the Grocery and Health Care sectors. For our purposes, the most revealing figure is the growth rate: 35% for Amazon.com, much larger than the U.S. domestic market's total growth of 6%. By maintaining this rate, Amazon is on track to be a significant disruptive force in the Tools & Home Improvement industry.
Click here to access the report. Note: registration is required to download the report.