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Home Improvement Market Surpasses Recent Growth: Identifying The Drivers

Published

2 years ago

5 minute read

Experts expect the home improvement market to grow to $1.5 trillion in 2023. Growth is seen year on year and is driven by rising incomes and a focus on home improvement.

Millennials are also one of the driving forces of progress. They have already excelled in many areas, including how they approach property ownership. Millennials are making more and more investments in their homes, and they are increasingly opting for custom solutions like those offered by front door Ottawa rather than those found on the mass market.

At the same time, millennials are admired for their creativity and do-it-yourself mentality. From painting the walls to remodeling the kitchen, this generation is ready to get their hands dirty and do it themselves.

These factors are the main profit drivers in the home improvement industry. So what’s next for the industry?

The home improvement market has been growing steadily over the past couple of years, fueled by a growing desire for comfortable and stylish living spaces. Looking ahead, it is evident that the market for home improvements has substantial room to develop and expand. We’ll explain why.

Development Of Consumer Trends

Today’s homeowners are increasingly seeking individualized, practical, and energy-efficient home solutions. People are seeking for methods to improve their houses while decreasing their environmental effect, which includes anything from energy-efficient appliances to solar panels and smart home technology that allows to manage heating systems, water supply, security systems and video surveillance.

The New Edgy Tech

The home renovation sector has undergone a revolutionary change because to technology. Consumers can now see and plan their home repair projects more easily thanks to the advancement of VR and AR. Additionally, smart home gadgets and automation offer homeowners more options for energy management, convenience, and security. These technologies will undoubtedly spur market expansion for home improvements as they develop further.

Shabby Housing

Housing in many wealthy nations is outdated and in need of modernization. The home renovation sector now has several chances for expansion. Homeowners make investments to upgrade plumbing, electrical wiring, insulation, and roofing systems.

Popular DIY Culture

The DIY movement has been gaining popularity in recent years as more individuals look for creative outlets and cost-saving labor alternatives. YouTube tutorials, DIY kits, and user-friendly tools are readily available, enabling homeowners to do a variety of home repair tasks independently. It is anticipated that this DIY culture will continue to fuel market expansion, particularly in industries like painting, flooring, and gardening.

Home-Related E-commerce

The emergence of internet shopping and e-commerce platforms has completely transformed the home improvement industry. Consumers now have access to a wide range of products, competitive prices and convenient delivery options. The convenience of online shopping combined with the ability to research and compare products has greatly increased the demand for home improvement products.

Global Market And Geopolitical Crisis

Although the home improvement market is growing locally, the geopolitical crisis is still having an impact on the home improvement market around the world. In the face of trade tensions, economic uncertainty and political instability, consumers are becoming more cautious and hesitant to invest in large projects. Yes, this doesn’t affect small purchases like new wallpaper or furniture or home accessories, but it significantly affects building materials. Rising costs of raw materials due to supply chain disruption have driven up prices, making it harder for homeowners to afford major repairs.

Therefore, growth opportunities in the building materials market are limited. It is critical for industry players to adapt and strategize appropriately to get through these challenging times.

Who’s Gonna Win?

Taking into account forecasts, local home improvement markets will only grow. At the same time, in the current situation, the winners in the global arena will be: online specialists and universal marketplaces with a strong HouseHold offer, offline retail with a developed omnichannel offer, retail multi-format networks for which the HouseHold offer is not the only traffic generator, specialized formats that can offer an interesting assortment , as well as networks with a strong price advantage.

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The bizarre story of Taro Tsujimoto

Published on March 28, 2025

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The National Hockey League (NHL) has seen its fair share of strange moments, but few compare to the bizarre and hilarious tale of Taro Tsujimoto, a player who never existed. His “selection” in the 1974 NHL Draft remains one of the most legendary pranks in hockey history. If you want to wager on actual players, making the 1xBet app download is definitely a great idea.

In the 1970s, the NHL Draft was a much less glamorous event than today. It was a tedious process conducted over the phone, with teams calling in their picks. The 3 biggest highlights of what happened during that year’s draft were:

  • the draft dragged on for hours;
  • there were multiple rounds and teams selecting unknown prospects from obscure leagues;
  • frustrated with the monotony, Buffalo Sabres general manager Punch Imlach decided to have a little fun.

As the 11th round approached, Imlach instructed his team’s representative to draft Taro Tsujimoto, a supposed forward from the Tokyo Katanas of the Japan Ice Hockey League. The name sounded authentic enough. The league officials, unfamiliar with Japanese hockey, accepted the pick without question. By downloading the 1xBet app you will also be able to wager on great NHL teams too.

A small problem

There was a small problem with all of this, as 2 things didn’t exist: Tsujimoto and the Tokyo Katanas. Imlach had completely fabricated the player as a joke, taking advantage of the NHL’s lack of verification. When it comes to NHL wagers, there is no better platform than the 1xBet Canada site.

For weeks, the league listed Tsujimoto as an official draft pick, and even some newspapers reported on Buffalo’s mysterious new Japanese prospect. Eventually, the Sabres admitted the hoax, and the NHL was forced to retroactively erase the selection from its records.

Despite being a fictional player, Taro Tsujimoto took on a life of his own. Buffalo Sabres fans embraced the prank, and over the years, his name has become a cult legend in hockey culture. Some fans even wore jerseys with “Tsujimoto” on the back. The joke persisted so much that when EA Sports released NHL video games, players could occasionally find Tsujimoto in the game’s draft pool as a hidden Easter egg.

More than just a prank, the story of Taro Tsujimoto highlights 2 things: the quirks of old-school sports management and the creativity of one of hockey’s most colorful executives. Today, with the draft process being highly scrutinized and broadcast live, such a prank would be impossible. But Tsujimoto’s legacy lives on as one of hockey’s greatest inside jokes. What is not a joke are the great rewards that a platform like the Canadian 1xBet site can give you.

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60% of Canadians gamble each month – why the industry is going from strength to strength

Published on March 26, 2025

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When it comes to regulating gambling, Canada has a somewhat relaxed approach. The Canadian Gaming Association oversees the industry, but it’s up to individual provinces to enact and enforce any laws relating to online casino gaming, sports betting, traditional casino gaming, and other forms of gambling.

Canada’s online casino gaming laws are not totally clear, but individual provinces are starting to put this right. Ontario was the first and did so when it launched its own regulated igaming market in April 2022. Now some other provinces have followed suit, creating a safer igaming environment for players in those provinces. Below is a look at gambling in Canada compared to other parts of the world, at gaming laws in Alberta compared to other provinces, and at the future of the Canadian, US, and UK gambling industries.

Canada: a forever love of gambling

Gambling in some form or other has always been popular in Canada. Way back in the 1990s, research found six in ten Canadians (60%) gambled every month. Additionally, four in ten (43%) spent between 1 and 20 Canadian dollars on gambling. Fast forward to today and the Canadian gambling market is worth 14.2 billion US dollars as of January 2024, according to data on the website of consumer and market data company Statista.

It seems Canada enjoys wagering just as much as two other countries that love a gamble: the US and the UK. Data on the Statista website shows that 49% of US adults took part in gambling activities in 2023. Fifty-six percent said their attitude towards gambling had relaxed, compared to the 50% of 2019.

The UK returned similar stats for the same year. Forty-eight percent of adults reported engaging in gambling activity. Online casinos generated the most gross gambling yield in 2023, but it was the nation’s National Lottery that people played the most.

 

Alberta: following Ontario’s lead

The regulatory developments in Ontario have triggered movement in Alberta. In May 2024, Bill 16, the Red Tape Reduction Amendment Act, made it through the process and later received Royal Assent to become law. The act removes the monopoly of gaming by a single government entity and will allow private operators, licensed by Alberta’s provincial regulator, to provide online gaming services in Alberta, meaning players will have a choice of more than one Alberta online casino to play at.

The regulation transforms Alberta into one of the more liberal provinces when it comes to online gambling, others being Quebec, Ontario, and British Columbia.

Several provinces, such as Novia Scotia and Northwest Territories, have no provincially regulated online gaming sites. Some also restrict betting on horse racing and/or other types of sports betting, obliging citizens to use international betting sites for freedom from caps and betting on as many events as they wish.

What lies ahead for the Canadian, US, and UK gambling industries?

Canada’s appetite for gambling is clear, and the industry’s online sector is beginning to thrive. Ontario has enjoyed vast success by creating its own regulated market, one which, in just its first year, saw Canadians place billions in wagers and the industry itself generate more than a billion in total gaming revenue.

Canada can expect to see other provinces follow Ontario’s lead and allow private operators to provide services in the province under license. The purpose of the regulation is player protection. Any province that develops a regulated market will focus on this, so there will also be regulations around the advertising of gambling services.

The US

Gambling online is the future for the US, too, although states are slow to legalize it. As of September 2024, 38 states had legalized sports betting, following the US Supreme Court’s ruling that states could regulate sports gambling directly.

Despite allowing sports betting, some states only permit in-person betting, and only a few states allow online casino gaming. Operators believe online casino gaming is the future of gambling.

The UK

In the UK, the use of artificial intelligence (AI) will get bigger and bigger. Companies have realized AI can enhance players’ experience and are embracing it more and more. For instance, sports betting websites can use it to crunch data and provide iGamers with stats and other data to make better betting decisions. They’re also understanding they can use AI to prioritize content players are likely to be interested in and to personalize their offerings and services to players’ preferences.

Canada enjoys gambling as much as America and the UK. Although laws around igaming are more of a grey area in Canada, some provinces are clearing the issue up by creating regulated markets and experiencing great success. As time goes by, more are sure to follow.

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