17.02.2015
A continued improvement in the economy and consumer confidence, combined with favorable spring and autumn weather conditions led to growth across all major DIY and Gardening sectors in 2014.
Decorative, pre-decorative, garden care, tools and garden tools all saw increased volume demand and value spend versus the previous year and, with improved consumer confidence, this could be set to improve further. Around a quarter of consumers are likely to spend large sums of money on home improvements in the coming year*.
Total DIY value sales grew 3% and gardening 10%**. A wet winter led to increased sales of products designed to clean or repair water damage as high pressure cleaners grew 36% and damp proof paint 25%. A warmer, sunnier spring led to a positive start to the garden season with growth for garden chemicals (+15%) and lawn seed (+11%) as well as increases for exterior coating materials.
The way consumers are buying products continues to develop. Online sales reached new heights in December 2014, at 25% of all consumer durables***. The growth rate online is almost four times higher than offline in a key category of power tools and consumers’ buying patterns are changing too, with a price premium approaching £20 for a multi tool online.
Sara Lynn Smith, GfK Senior Account Manager, states: “positive indicators, from low unemployment levels to increased consumer durables spend, are not only exciting economists, but also translating into increased optimism in the general populace. Although in terms of GDP we have emerged from the recession, our behaviour patterns remain altered, with continued focus on entertaining at home. With salaries at long last beginning to pick up again, increased discretionary spend looks likely to be invested in the home.”
Simon Foy and Sara Lynn Smith will be speaking at Totally DIY:Tools Show 2015. Entitled, ‘Economy, sunshine and vogues: Drivers & trends in DIY/Gardening in 2014, the sessions will be held on Monday 16 February and Tuesday 17 February at 12.55. The duo will highlight and explore some of the key drivers and trends seen across the DIY and Gardening markets with particular focus to the happenings in 2014. Presentation room Jaguar Suite.
*GfK consumer confidence Jan 2015
**Source GfK Market I
*** ‘Total Consumer Durables’ based on GfK Market- i report, Total Retail Market, including Office, IT, Telecommunications, Photo, Automotive, DIY/Gardening, Major Domestic Appliances, Small Domestic Appliances, Consumer Electronics
All figures quoted in value, 2014 vs. 2013
These are GfK’s global findings ahead of CES 2024.
Read moreEnvironmental appeal ‘not enough’ to convert non-luxury buyers to EVs
Read moreIn the latest Green Gauge® study from GfK Consumer Life, more than half the U.S. population (53%) expressed serious concern for the environment, noting it should be a priority for everyone.
Read more