Today’s busy lifestyle has led to an increase in the number of contracting home improvement projects, as more consumers may not have the do-it-yourself (DIY) skills or the time to refurbish their homes. According to the National House Building Council (NHBC), UK consumers tend to choose designs and quality over product brands. Therefore, businesses that offer a variety of products can profit with this trend. Big companies have in fact encountered difficulty getting high shares in the competition.
In 2016, increase in do-it-for-me (DIFM) consumers, homeowners lacking DIY skills, and people with disposable incomes expand and sustain the market for the home improvement industry in the UK. Consumer confidence is also likely to be affected by the current economic condition. Recently, major purchases, which include major home renovation, have dropped after the Brexit referendum.
During the previous years, there has been an increased demand for outdoor products and other general building supplies. DIY jobs however have shifted to DIFM projects, especially for the age groups below 30’s. Also, the rise in house prices has driven potential homebuyers to rent instead. The use of tradesmen in home renovation or the Get Someone In (GSI) trend has affected mainstream home improvement sales although some big players have been able to divert strategies to compete with emerging trade suppliers and distributors.
Economists have forecast decline in the construction industry due to post Brexit conditions. Other factors that may contribute to uncertainty in the home improvement sector are importation of building products from inexpensive sources, high prices of housing units, online retailers, increasing number of people residing in rented flats or apartments, and other budget-friendly marketing schemes.
Need help in pursuing the right demographic group for your home improvement business? Datablazers can help you with this goal. Click here for more information.

Leave a Comment

Your email address will not be published. Required fields are marked *