Home Improvement Multiples Market Report – UK 2024-2028
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The Home Improvement Multiples Market Report – UK 2024-2028 explores key market drivers and trends, forecast up to 2028, and an analyses of the competitive landscape and retailer strategy.
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The sector experienced a decline in performance over the last few years and is projected to remain flat at £7.6bn throughout 2024, due to economic challenges. Major players like B&Q and Wickes, along with retailers such as B&M Retail and The Range, face pressures from reduced consumer incomes, price competition, and rising costs. Recent reorganizations and digital enhancements have been crucial for adaptation. The Covid-19 pandemic initially boosted home improvement activities, but ongoing supply chain issues and economic uncertainty have impacted investments. Forecast potential growth is in energy-efficient solutions and smart home technologies.
The following topics are featured in the report to highlight this market’s landscape.
Market Valuation and Trends
Analysis of the UK Home Improvement Multiples market valuation, projected at £7.6bn in 2024, and recent trends in market performance.
Economic Impact on Market Performance
Examination of the broader UK economic downturn, cost-of-living crisis, and their effects on consumer spending and retailer margins.
Housing Market Influence
The relationship between the housing sector’s performance, including new builds and housing RMI (repair, maintenance, and improvement), and its impact on the home improvement market.
Company Strategies
Insights into how major players like B&Q, Wickes, and Homebase are reorganizing, digitalizing, and enhancing customer experience to navigate economic challenges.
Product Category Performance
Detailed analysis of key product categories, including garden & landscaping, building supplies, decorating products, lighting & electrical, tools & equipment, and more.
Competitive Landscape
Overview of competition within the sector, including the role of General Merchandise Retailers such as B&M Retail and The Range.
Consumer Behaviour
Exploration of consumer trends, particularly the demand for energy-efficient solutions, smart home technologies, and products for renters and landlords.
Future Prospects
Identification of potential growth areas, such as energy-efficient solutions and smart home devices, and the challenges ahead.
Regulatory and Environmental Factors
Impact of stringent environmental targets and regulations on the market and ongoing operations.
Market Drivers & Trends
The following feature key market drivers within the market.
Digital Transformation
The increasing role of online shopping, digitalization, and efficient fulfillment processes in shaping consumer behaviour and retailer strategies.
Pandemic-Driven Demand
Increased home improvement activities during the Covid-19 pandemic, with more consumers focusing on home projects.
Energy-Efficient Solutions
Growing demand for energy-efficient and smart home technologies, including LED lighting, EV charging, and renewable energy products.
Store Format Evolution
The evolution of store formats, including the development of compact stores, rightsizing initiatives, and the creation of engaging in-store experiences.
Consumer Trends and Preferences:
Shifts in consumer preferences, particularly among renters and landlords, and their impact on demand for furniture, storage, garden products, and home décor.
Key challenges
The following topics are explored within the report as key challenges within the market.
Economic Uncertainty
Declining consumer disposable incomes and economic pressures, such as the cost-of-living crisis.
Supply Chain Issues
Ongoing supply chain disruptions post-pandemic, affecting the availability and cost of building materials and products. Analysis of supply chain issues, import/export trends, and the implications of a negative trade balance on retailer margins and product availability.
Rising Operational Costs
Increased costs for production, transport, labour, and energy, squeezing retailer margins.
Price Competition
Intense price competition among retailers, impacting profitability.
Deferred Investments
Economic strains leading to deferred home improvement investments, particularly for discretionary projects.
Sector Underperformance
Challenges in the UK construction and housebuilding sectors affect overall market performance.
The following retailers and their distribution methods are covered in detail within the report:
Brick-and-Mortar Retailers
Traditional home improvement stores like B&Q, Wickes, and Homebase, offer a wide range of products and in-store services.
General Merchandise Retailers
Stores such as B&M Retail and The Range, which include home improvement products as part of their broader merchandise offering.
Online Retailers
E-commerce platforms and marketplaces like Amazon, as well as dedicated home improvement websites offering a convenient shopping experience and extensive product range.
Direct-to-Consumer Brands
Manufacturers sell directly to consumers via their own online platforms, bypassing traditional retail channels.
Wholesale Distributors
Companies supply products in bulk to smaller retailers, contractors, and tradespeople, ensuring availability of a wide range of home improvement materials.
Specialty Stores
Independent retailers and niche stores focusing on specific categories such as lighting, tiling, or kitchen and bathroom products.
Trade Suppliers
Outlets catering specifically to tradespeople and professionals, providing specialized tools, equipment, and materials.
Big Box Retailers
Large chain stores that offer home improvement products alongside a wide array of other goods, providing a one-stop-shop experience.
DIY Marketplaces
Online platforms aggregating products from various sellers, offering consumers a broad selection of home improvement items and competitive prices.
Tool Hire Services
Companies providing rental services for tools and equipment, catering to both DIY enthusiasts and professional tradespeople needing temporary access to specialized tools.
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