Number of home improvement jobs by European consumers is rising
Not only has the number of home improvement jobs risen, the outlook of consumers on home improvement projects in the coming six months is rising as well. Although consumer confidence is still negative, it has improved considerably since last winter. These figures indicate an upcoming growth for the home improvement industry. This is shown by the latest survey of the European home improvement barometer, a month-to-month indicator for home improvement jobs in Europe by USP Marketing Consultancy based on 26,400 interviews per year.
The barometer is part of the European Home Improvement Monitor, a study providing insight in the amount of home improvement jobs performed by consumers or professionals in 11 European countries. The start of 2015 indicates a good year for home improvement jobs. In January and February, relatively slow months for home improvement jobs, already 9,6% and 11,3% of European households performed one or more home improvement jobs. These were almost all interior jobs. Only 6% (in January) and 11% (In February) were exterior jobs. Almost two thirds of the jobs were Do-It-Yourself jobs, more than one third was done by professionals.
As can be seen in the long-term development of the barometer (cf. chart below*), the home improvement share as well as the consumer confidence at the beginning of 2015 are above the level of the beginning of 2014. This increase already started in December 2014. Although the consumer confidence is still negative, there is a large increase with respect to the previous months. This increase is expected to keep rising, because the economy is still improving.
Home improvement forecast keep improving
The outlook on home improvement projects in the coming six months is rising as well. Since the beginning of the measurements, there were never more people that expect to do a home improvement job in the coming six months than in February 2015. More than six out of ten European consumers expect to conduct some sort of home improvement job in the coming six months. This percentage is expected to keep rising, because the peak of European home improvement plans are usually in spring. During that particular period most European consumers are planning to conduct home improvement in the upcoming six months.
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:
USP Marketing Consultancy, Business Unit DIY Reinier Zuydgeest Consultant DIY & Living E: email@example.comT: +31 10-2066900
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