European Home Improvement: Key Trends
Over the past 2 decades USP Marketing Consultancy has performed continuous market research in the Construction, DIY and Installation industries. During these years, we have accumulated a lot of knowledge through our dedicated and multi client researches. Today we would like to share some of our thoughts on the European home improvement sector. There have been some significant trends in the home improvement market in the past decade or so. The one trend that is on everybodys mind is e-commerce. Virtually all DIY retailers have adopted an e-commerce approach.
Retailers like Home depot saw their e-commerce revenue grow with about 50% in the last years. What is crucial to know is which products do consumers consider to buy online? In most European countries kitchen appliances and power tools top the list. Knowing which products have the highest potential is one thing, knowing where consumers buy their DIY products online is another. It is surprising to see that in the majority of Europe, Amazon and/or Ebay have a dominant position. Retailers are often in second or third place. An example of this is Germany, where Amazon and Ebay top the list, with Obi a distant 3rd. This can partly be explained with the fact that it was not until 2011 that the leading DIY retailers in Germany adopted online shops.Another key trend is Do-it-for-me (DIFM) opposed to DIY. This means that consumers let professionals do the home improvement jobs for them. Drivers for this trend are, amongst others, the aging society and a lower willingness of younger generations to do DIY jobs. A very important factor in all of this is the fact that DIFM jobs sometimes involve the consumer buying the products and the professional only providing the labor. In some generations, the share of DIFM is higher than in others. This is also the case when we look at the percentage of consumers who buy their DIY products online. One would assume that the percentage of baby boomers who buy online is low, but in some countries this is not the case. Another trend, especially with the Paris climate agreement in mind, is sustainability. To what degree are consumers interested in sustainable products for their home? Surprisingly, Italian and Spanish consumers are most willing to invest in sustainable products/solutions for their homes. These are just some trends. We will continue to monitor and report many more.
About the European Home Improvement Monitor
The European residential new build market currently has limited growth potential. Due to the economic recession the new build volumes have dropped dramatically. The renovation and refurbishment sector on the other hand has become important and it is expected its importance will grow even further. There is a lot of information available about the DIY market and the renovation market in the professional segment. However, theres no source that provides insight in the size of the total home improvement market, both jobs done by consumers and professionals, and the main trends in this market. The European Home Improvement Monitor is the first research that monitors the market size and main trends in the European home improvement market on a continuous basis. Each month 2,000 successful interviews are conducted across Austria, Belgium, Denmark, Germany, France, Italy, Poland, Netherlands, Spain, Sweden and the United Kingdom. This means that 26,400 interviews are conducted among European consumers on a yearly basis. The results from this research are reported on a quarterly basis and show the development of the market in terms of purchase volume and purchase channels. Furthermore, each quarter in-depth insight is given in topics which are up to date in the market.
For more information, please contact:Dirk Hoogenboom Research Consultant USP Marketing Consultancy E-mail: firstname.lastname@example.org T: +3110 206 6914 M: +31652098924
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