Essential reading for retailers and suppliers in the home improvement market

Big-ticket spending up on home products

Published: 11 October 2010
Homewares market reports 10% growth in September, as consumers rush to make purchases ahead of VAT increase in January.
Big-ticket spending up on home products
High street spending leapt 6.1% last month, according to BDO's latest high street sales tracker.

While non-fashion grew 6%, the real surge in demand came from the homewares market, which saw 10.2% growth in September - an impressive reversal of last year's figure of -2.8%.

Sales have been helped, said BDO by consumers splashing out on big-ticket items now in a bid to beat the VAT increase at the start of next year.

However, retailers have also boxed clever, refusing to enter into price wars and preferring instead to cushion the blow by building the rise into prices now.

BDO LLP head of retail Don Williams explained that retailers are also being smarter about managing stock. "The high street has improved its planning, erring on the side of being under, rather than overbought, focusing on keeping margins high and avoiding being lumbered with mountains of excess stock."

Online growth has slowed this year to 26.9% compared with 41% in September 2009. However, Mr Williams still believes the internet is the key area for high street retailers. "Online retailers don't necessarily need a shop but high street retailers certainly need a website now that consumers have grown in confidence when it comes to using the internet."


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