Initial signs of a revival in 2007 are positive
The diy sector has rebounded in 2007 – to a point where in January 2006, compared to January 2007, sales have increased 12.7% from £698m to £787m.
Kervin Henry, GfK said: "2006 saw an overall decline in the diy superstore market of 1.9% to £7.9bn. There are three main reasons for this; bad weather kept people inside rather than gardening, the world cup and the diversion of consumer spending towards high-ticket items like flat panel TVs all meant fewer people shopping for diy equipment.
"However in 2007 we have seen a resurgence in the diy market. January 2007 sales increased by nearly 14% compared to January 2006, February 2007 sales were up nearly 9% on February 2006 and the first two weeks of March 2007 have seen sales growth of 10% on the same weeks in 2006.
"Market analysts will now be looking carefully at the performance of the diy sector over the vital Easter period, but initial signs of revival in 2007 are positive."
Within diy:
'Home' sales have increased by 13% and account for 79% of all diy sales.
'Garden' sales have increased by 20% and account for 5% of all diy sales.
'Building' sales have increased by 11% and account for 16% of all diy sales.