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.
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’s on everybody’s mind is e-commerce. Virtually all DIY retailers have adopted an e-commerce approach. Retailers like Home depot saw their e-commerce revenues grow with about 50% in the last years. What is crucial to know is what products do consumers consider to buy online? In most European countries kitchen appliances and power tools top the list.
Knowing the what products have the highest potential is one thing, knowing where consumers buy their DIY products online is another. It 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, Amazon and Ebay top the list, with Obi a distant 3th. This can partly be explained due to the fact that it was not until 2011 before 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 less willingness of younger generations to do DIY jobs. A very important factor in all of this is the fact that DIFM jobs sometimes involves 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.
In case of any questions feel free to contact me at Hoogenboom@usp-mc.nl
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