Norway: Market reports growth in 2018 and 2019

The Norwegian home improvement market grew by almost 5% in 2018 and further growth is expected in 2019. 2018 was a positive year for the players in the Norwegian home improvement trade. According to market figures from the main association of service industries Virke, they generated NOK 48.5 bn (around EUR 4.9 bn), which corresponds to an increase of 4.7% over the previous year. The growth resulted primarily from an increase in the professional business, which accounted for 62% of sales in 2018. More and more people who want to build and renovate rely on professional support for their projects instead of doing their own thing. Nevertheless, the end-consumer market also developed positively in terms of sales in 2018 (plus 1.3%), according to the association. For 2019, it lowered his growth forecast from 5% to 2% last September.

 

Source: www.baumarktmanager.de