From 2013 to 2019, US hardware store sales showed consistent growth, with a notable peak in 2018 at a value of 26.48 Billion USD. However, a significant decline occurred in 2020 due to various market disruptions, resulting in a drop to 22.57 Billion USD. Recovery was swift, with sales rebounding by 2021 and continuing to grow, reaching an estimated 28.8 Billion USD in 2023. Year-on-year variation in 2023 was lower at 1.86%, and the last five-year CAGR stood at 1.7%, indicating a modest growth trend.
Future projections suggest hardware store sales will continue growing, albeit at a slower pace, with forecasted sales reaching 31.46 Billion USD by 2028, reflecting a 5-year CAGR of 1.45%. Key trends to watch for include the impact of digital transformation, changes in consumer behavior, and potential supply chain disruptions.
