In the first part of the new millenium, the DIY and Home Improvement market flourished. Economic growth above inflation was reflected in strong consumer spending which was accompanied by a buoyant housing market which encouraged spending on home decoration and improvement.
Today’s picture is very different - home improvements retailers have been hit hard by a global economic recession which has been exacerbated in Britain by a sliding housing market. In addition, there are rising raw material prices and concerns about increasing inflation. In the long term, the ageing population is an additional threat to the future of the market as older people are less likely to DIY.
In such testing conditions knowing how consumers and the market will react over the next few years is of paramount commercial importance.
Give me a call to discuss how we can provide the insight that will allow you to implement tactical and strategic plans appropriate to the changing environment, and ultimately protect and grow your market share.
To discuss your Home/DIY research needs in more detail, email Matt Counsell, Partner And Head Of Quantitative Research or call him on +44 (0)113 237 5590.