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DIY Market Tops £8 Billion in 2008
As housebuilders and the construction industry increasingly experience the full impact of the downturn in the UK housing market, research for a new report has found that the UK DIY market is set to exceed £8 billion for the first time in 2008.
By: MTW Research
Report publishers MTW Research have revealed that whilst the effects of the ‘credit crunch’ are likely to result in lower sales growth in the next couple of years for the DIY market, the lack of activity in the housing market should offer some short term impetus for DIY purchases as householders seek to ‘improve, rather than move’.
Despite a degree of optimism for the DIY industry, MTW also point to a degree of fragility in the market, as profitability growth remains subdued. For suppliers to the DIY sector, the report highlights the ongoing resistance by DIY retailers to accept price rises from manufacturers and a reluctance to pass rising costs on to the consumer. This issue is likely to remain a key dampener for suppliers to the DIY industry for some time to come, as they are forced to absorb the impact of rising fuel, labour and raw material costs.
Nevertheless, MTW also highlight a number of positives for the DIY market to 2012 with one such issue being that the DIY industry remains reasonably ‘cash rich’ with borrowing remaining relatively stable in recent years. Whilst the research for the report identified the likelihood of a slight rise in average debt in the next couple of years, the underlying foundation for the industry is one of reasonable health. As such, the DIY market is reasonably well equipped to meet the demands from an increasingly competitive trading environment in the next few years.
The DIY multiples remain a dominant force in the DIY retail market, with the four largest players in the market having a strong influence on the overall performance of the industry. The market shares accounted for by the DIY multiples represent a substantial proportion of the sector in 2008, with these retailers’ influence continuing to dominate key market trends.
The report goes on the identify and rank the DIY retailers active in the market at present, with their respective turnover, profitability and other key performance indicators. MTW also provide a useful key performance indicator chart enabling the reader to quickly gauge a company’s recent performance in the market. In addition, the report also includes full mailing address details and senior decision maker contact details for the DIY retailers, providing relevant targets for manufacturers.
The report is priced from GBP 375 and can be purchased from MTW Research by calling 08456 524324 or by ordering on MTW Research’s website, where a free sample is available to download, alongside further details on this and other markets in the building and construction industry.
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MTW Research are a specialist, independent publisher of market research reports & databases for the UK Construction & Building Products Industry. The following is an article based on the publication of a new report on the UK DIY Retail Market. Please use this press release as required, though we would appreciate the inclusion of the price (GBP£375), website (www.marketresearchreports.co.uk)