Bricks-and-mortar DIY and garden stores could mop up trade from ailing competitors, as shoppers in the category favour physical outlets over online ans convenience tops loyalty.
DIY and gardening shoppers in the UK are most likely to switch to a different retailer’s physical store if the store they normally shop at closes, while relatively few would switch to online or travel to the same retailer’s store in a different location. This indicates a preference not only for physical retail over online, but also for convenience over loyalty to a particular retailer, according to a new report from data and analytics company GlobalData.
The data company forecasts reveal that the UK DIY market is valued at £7.04billion in 2019 and is expected to grow at a compound annual growth rate of 1.2% to £7.17billion in 2020. UK gardening spend will rise 1.5% in 2019, reaching £4.43billion in 2020.
GlobalData’s latest survey found that physical stores will continue to be the most popular channel among DIY and gardening shoppers, irrespective of store closures, as 64% would be most likely to switch to a bricks-and-mortar alternative if the store they normally shopped at closed, instead of switching to online. This compares to the average of 60% across all retail sectors.
GlobalData retail analyst Amy Higginbotham said: “As well as being less inclined to switch to online, DIY and gardening shoppers are also less loyal to a particular retailer than the average UK consumer. Only 35.5% would stick with the same retailer, whether at a different store or online, compared to the 39.9% average across all retail sectors.”