The housing market has been recovering from its slump in recent years. Coupled with other factors, this has resulted in a resurgence of the hardware industry. As with most other sectors, a lot of the business is shifting online. More and more digitally savvy consumers are fulfilling their hardware needs with the convenience of online shopping. The online market is growing at an annual rate of 13.3%. By 2021, it is predicted that the hardware store industry’s contribution to the overall economy will increase at an average annual rate of 3.7%. We wanted to dig a little deeper into the hardware ecosystem to discern which categories are strongest, what the trends are in pricing and assortment, and which stores lead the market, among other things.
Tapping into the Indix Cloud Catalog, we found over 1.2 million in-stock hardware products spanning 281 brands and selling across 149 stores. However, over 75% of the products are from three main categories: Door Hardware and Locks, Cabinet Hardware, and Nails, Screws, and Fasteners. These categories formed the dataset for our analysis. Hardware included in these categories is used in many situations – whether it’s for a simple DIY task, or a major house remodeling or construction project.
Our findings are distilled in the Indix Hardware Product Category Report, which you can download here now.
Here is a teaser of the insights derived from the analysis:
For more such insights and analysis, download the Indix Hardware Product Category Report now.
Also published on Medium.