A new thirst for innovation

As with other sectors of the UK economy, the DIY market in England, Scotland, Wales and Northern Ireland is showing signs of modest growth - for the first time in six or seven years.At the close of 2014, consumer confidence in the UK was significantly higher than it was at the end of 2012. Unemployment is decreasing and housing transactions increasing. 11 per cent of consumers are planning to purchase or build new in the next two years and 26 per cent are likely to spend significantly on home improvements. UK sales in DIY and gardening are up in both volume and value.  (Source: Gfk).  As with any market in any territory, this overall economic situation is a fundamental driver for the DIY market and that is equally applicable throughout Europe and beyond. However, it is worth noting that the UK DIY market is very different from its fellow European nations in having its powerbase focussed on a very small number of big retailers. While it's true that the big builders' merchants are increasingly interested in the DIY consumer, as are other kinds of retailer, and that there is also an independent DIY retail market, the real influence rests with two possibly three players - B&Q and Homebase - and albeit a slightly more trade oriented profile - Wickes. This concentration of power is a significant factor in the market.Bearing that in mind, while any resurgence in the market is welcome, I tend to agree with many other commentators that what we now have is the so-called 'new normal'.  In other words the market will not return to the way it was pre-recession, but that is not to say that success cannot still be attained today. Circumstances are simply different and the challenges are not just economic.

Of perhaps equal influence in terms of the future direction of DIY retail are all of the following:Bricks and mortar versus bricks and clicks. In other words, many UK retailers find themselves with too many square metres of actual store while more and more sales are going through virtual storesConsequent growth of the omni-channel concept with online offers, click and collect, home delivery and redefined assisted purchase roles for the remaining bricks and mortar storesBrands versus private label and what is the optimum combination to attract consumers, build supplier…