Challenging conventional wisdom: a reappraisal of the UK DIY market

Abstract

Explains that UK consumers currently spend over £9 billion on do-it-yourself (DIY) home improvement products. States that in the 1980s this was the UK's fastest growing major retail sector, and the booming UK housing market, especially the number of house moves, was widely thought to be the main stimulus for this growth. Reveals that the annual number of house moves has fallen by 50 per cent since 1988 but the DIY market has still grown, which suggests that the link between DIY and the housing market has either changed or is not as strong as previously believed. Reassesses the major factors which affected the DIY market in the 1980s through data analysis and multiple regression techniques. Suggests from the results that the effect of house moves on the DIY market is less than conventional wisdom would indicate. Notes that the most significant factors have been identified and are being used in a five-year forecast which shows growth in line with increases in the general economy in a new, mature DIY market. Concludes that the results highlight the care needed when basing forecasts on a single factor which may no longer be valid.