In 2013, the DIY sector will contract by 0.6%. This marks the sixth consecutive year the market declined but it will be the slowest fall as the housing market starts to recover towards the end of the year. We forecast that DIY will grow again in 2014 as the economic picture improves. To gain the most from this growth, retailers should focus upon improving service and online.
DIY has been severely affected during the downturn as shoppers shied away from discretionary purchases while the weak housing market provided little stimulus to buy. From 2008 to 2013, DIY declined by 20.2%. Tools and equipment was the worst affected sector as major redecorating projects were deferred and shoppers kept using existing tools.
We forecast that the market will grow again in 2014 and will increase each year after that, for a market value of £8.3bn in 2017. Inflation will initially drive growth before volumes improve later as the housing market recovers. All sectors will grow by at least 7.8% between 2013 and 2017 with decorative materials leading the way growing by 12.3%.
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