The affordable and low skilled nature of Decorative DIY projects means the market has performed relatively well during the recessionary period, and continues to maintain strong growth while shoppers have constrained budgets - up 4.2% to 2015.
In DIY markets that require more technical skills, shoppers are turning to tradesmen to do the work for them - and make up for a skills shortage. But in Decorative DIY, the ease of painting a room or putting up new wallpaper, and its instant noticeable impact, has significant appeal.
- Consumers are feeling less settled in their homes and willing to spend on them In the past year an increasing number of consumers are feeling less settled in their homes, with 18.0% stating that they are restricting spend on their home because they hope to move, compared with 14.8% in 2014. However, the slower housing market appears to be creating a backlog of homeowners with frustrated plans to move in the longer term.
- Consumers are more using DIY to add significant value to their properties Greater media coverage on the home improvement sector through shows such as 'Homes Under the Hammer' and 'Grand Designs' are raising consumer awareness of how home improvement can add value to a property, as well as encouraging creativity and aspiration, inspiring consumers to create their own dream homes.
- A growing number consumers are enjoying DIY projects A growing proportion of consumers that view DIY as more of a means to an end is not reducing enjoyment of the hobby. For many, it has been quite the opposite, with the proportion of DIY shoppers stating that they enjoy DIY having increased from 40.5% in 2014 to 42.5% in 2015.
- Increasing competitiveness amongst retailers in some DIY subcategories With many of the subcategories in Decorative DIY being low value, generic and functional decorating accessories (such as sandpaper and paint brushes), consumers want low prices, and retailers have been competing to offer these items for less.
"The Home Retail Series - Decorative DIY May 2016", a Home Retail series report by Verdict Retail, provides an executive-level overview of the Decorative DIY market today, with forecasts of values and volumes up to 2020. It delivers deep quantitative and qualitative insight into the Decorative DIY market, , analyzing key trends in the market based consumer data from Verdict Retail.
It provides in-depth analysis of the following:
- Market size and forecast; a look at the total market size and forecast size for decorative DIY in the UK, with an overview regional analysis.
- Evaluation of major retailers and forecast; analysis of the major decorative DIY retailers in the UK market and an evaluation of their outlook and future prospects.
- Summary of main influences; an overview on the factors driving the evolution of the decorative DIY market.
Reasons To Buy
- This Home Retail Series report helps executives build proactive, profitable growth strategies by offering comprehensive, relevant analysis of the Decorative DIY market based on insights from Verdicts annual bespoke consumer survey and analyst insight.
- The report is designed for an executive-level audience, boasting presentation quality that allows it to be turned into presentable material immediately.
- The broad but detailed perspective will help manufacturers and retailers to understand and succeed in the challenging Decorative DIY market.
Decorative DIY; wallpaper; paint; online; housing; hobby; affordable; renovations; forecasts; market size; market growth