Report shows lawn & garden industry is beginning to stabilize
A new report from Packaged Facts, a division of MarketResearch.com, points to growing stability in the lawn and garden industry.
In "Lawn and Garden Equipment in the U.S., 11th Edition," Packaged Facts demonstrates how lawn and garden sales have fared since they peaked in 2005.
According to the data, sales declined by a compound annual growth rate (CAGR) of 0.2% between 2010 and 2014, an improvement over the more than 1% decline between 2008 and 2012.
A new report from Packaged Facts, a division of MarketResearch.com, points to growing stability in the lawn and garden industry.
In "Lawn and Garden Equipment in the U.S., 11th Edition," Packaged Facts demonstrates how lawn and garden sales have fared since they peaked in 2005.
According to the data, sales declined by a compound annual growth rate (CAGR) of 0.2% between 2010 and 2014, an improvement over the more than 1% decline between 2008 and 2012.
"The mature market is highly dependent on the economy, housing, household formation, weather and seasonality," said the company in a statement. "Continued economic challenges have made market recovery uneven, and weather has also created fluctuations in sales year-to-year."
Total retail sales for the sector are estimated at $10.2 billion in 2014, driven especially by segments of OPE such as riding/tractor lawn mowers, zero-turn models, and lithium ion battery-powered products.
Other insights: Husqvarna and MTD Products remain the largest marketers of OPE, with TTI and Black & Decker reigning in electric OPE.
Additionally, private-label store brands, such as those marketed by Home Depot and Lowe's, are making a splash.
Big-box stores and mass retailers in general -- such as Home Depot, Lowe's, Walmart and Sears -- make up 75% of total market sales and at least 80% of OPE sales.
What's more, it's estimated that more than a third of OPE customers shop online.