Falling interest rates, the levelling out of house prices and weak forecast construction activity are likely to boost renovation activity in future, representing good news for Western Europe’s DIY industry. Renovations of bathrooms and kitchens are the top priorities for consumers. The key to attracting time-poor urban millennials might be direct-to-consumer brands, whereas the store remains core for Generation X and Baby Boomers, who may live in suburban areas.
You have no recently viewed reports.
Why not browse through our Featured or Trending Reports to see what we have to offer?
Falling interest rates, the levelling out of house prices and weak forecast construction activity are likely to boost renovation activity over 2018-2023, spelling good news for Western Europe’s DIY industry.
Renovation activity will create demand for home improvement products, such as bathroom and sanitaryware, floor covering, decorative paint and wall covering. At the same time, consumers will also be seeking out home furnishings.
DIY retailers and suppliers should be aware of their audience. Time-poor, urban millennials are more comfortable conducting research online, therefore, digital direct-to-consumer brands are more likely to resonate; however, city centre stores will also capture interest from this consumer segment. On the other hand, DIY retailers and suppliers should not forget the importance of store-based interactions. Generation X and Baby Boomers living in suburban areas may be more likely to visit physical stores, making omnichannel strategies a must.