CANADA RANKS THIRD GLOBALLY FOR HOME IMPROVEMENT SPENDING

The market worldwide for retail home improvement sales reached € 594 billion ($861.7 billion) in 2018, and despite its relatively small population, Canada managed to rank number three overall. According to a report produced jointly by the European Federation of DIY Manufacturers and the Global Home Improvement Network, the market worldwide grew by 1.1 percent from the previous year, but it lags behind global GDP, which grew by 2.5 percent that year.

It also falls short of growth in the Canadian market. The retail home improvement industry here grew by 3.8 percent in 2018 (according to the latest annual Hardlines Retail Report). While not a banner year for Canada, its growth nevertheless managed to exceed the performance of many overseas markets.

That may also have something to do with why Canada, with the 10th-largest economy in the world (behind Italy and Brazil) ranks as the third-largest market in the world for home improvement sales—behind the U.S. and Germany.

In fact, 58 percent of worldwide home improvement sales are generated in North America, says the report, accounting for € 343 billion ($497.6 billion). By comparison, the second-largest market is Europe. With overall sales of €173 billion ($251 billion), it comprises 29 percent of the market worldwide.

North America and Europe together represent approximately 87 percent of this market, a combined € 516 billion ($757 billion).

Approximately 81 percent of the global DIY market, some € 482 billion ($707 billion), is concentrated in only eight countries: the U.S., Germany, Canada, Japan, U.K., France, Australia and Italy.