Newsletter
Shop
Login
Menü
Subscribe now
In the United Kingdom the DIY retailer Focus Wickes has developed an industry monitor in association with the market research company Verdict
Followers of trends in the UK housing market will be familiar with the industry monitors which are regularly published by leading building societies, revealing and analysing pricing and other trends. Now Focus Wickes is launching a similar service for the DIY market.
Bill Archer, chairman of Focus Wickes, is convinced that the new industry monitor will provide in-depth benchmark data.
The report will be published three times a year in association with the UK market research company Verdict. It will track key trends in the DIY industry, which is the fifth largest retail sector in the United Kingdom with a volume of £ 12.2 bn (19.8 bn euro).
“This Monitor will provide in-depth benchmark data against which those following this key retail sector can monitor market developments,” says Bill Archer, chairman of Focus Wickes. “This extremely dynamic sector is not only expanding rapidly, but the pattern of consumer expenditure has changed significantly in recent years. This research allows these trends to be understood and monitored.”
For Focus Wickes, the Monitor is part of a process of better understanding the needs of its customers. The first publication has already established a number of interesting facts.
The researchers used a mix of quantitative and qualitative research and established that the average spend on a DIY project is an impressive £ 1 700 (2 700 euro). An important new trend was also identified, namely that consumers are increasingly spending money on their homes not because they want to move, but because they have no intention of doing so. In fact, 80 per cent of consumers have no plans to move house. A crucial factor here is the increase in house prices, which is leading to growing numbers of consumers undertaking DIY tasks simply because they want a new look for their home. The majority fund these jobs from savings rather than by remortgaging or using credit.
“The results of our first Monitor explode many of the myths that surround the DIY industry and cast new light on the DIY and housing market,” says Bill Archer. “DIY enthusiasts are not remortgaging their houses to finance projects, and the industry is not reliant on the housing market, with the majority of people undertaking DIY projects for reasons other than having just moved house. Whilst good old-fashioned “needs” continues to be a driver of expenditure, the industry is increasingly becoming “wants” driven and not just based on replacing and repairing.”
The good news: From 2001 to 2005 DIY retailing is predicted to grow by 7.4 per cent annually, thereby outperforming all the other retail sectors in the United Kingdom.
DIY in Europe 11-12/2003
Bill Archer, chairman of Focus Wickes, is convinced that the new industry monitor will provide in-depth benchmark data.
The report will be published three times a year in association with the UK market research company Verdict. It will track key trends in the DIY industry, which is the fifth largest retail sector in the United Kingdom with a volume of £ 12.2 bn (19.8 bn euro).
“This Monitor will provide in-depth benchmark data against which those following this key retail sector can monitor market developments,” says Bill Archer, chairman of Focus Wickes. “This extremely dynamic sector is not only expanding rapidly, but the pattern of consumer expenditure has changed significantly in recent years. This research allows these trends to be understood and monitored.”
For Focus Wickes, the Monitor is part of a process of better understanding the needs of its customers. The first publication has already established a number of interesting facts.
The researchers used a mix of quantitative and qualitative research and established that the average spend on a DIY project is an impressive £ 1 700 (2 700 euro). An important new trend was also identified, namely that consumers are increasingly spending money on their homes not because they want to move, but because they have no intention of doing so. In fact, 80 per cent of consumers have no plans to move house. A crucial factor here is the increase in house prices, which is leading to growing numbers of consumers undertaking DIY tasks simply because they want a new look for their home. The majority fund these jobs from savings rather than by remortgaging or using credit.
“The results of our first Monitor explode many of the myths that surround the DIY industry and cast new light on the DIY and housing market,” says Bill Archer. “DIY enthusiasts are not remortgaging their houses to finance projects, and the industry is not reliant on the housing market, with the majority of people undertaking DIY projects for reasons other than having just moved house. Whilst good old-fashioned “needs” continues to be a driver of expenditure, the industry is increasingly becoming “wants” driven and not just based on replacing and repairing.”
The good news: From 2001 to 2005 DIY retailing is predicted to grow by 7.4 per cent annually, thereby outperforming all the other retail sectors in the United Kingdom.
DIY in Europe 11-12/2003
