market insight
home improvement

Understanding the impact of Covid-19

Market dynamics have clearly changed over the past few months due to the pandemic. To best adapt to the post-Covid world and mitigate the worst effects, you must understand how your customers' needs have evolved.

Research suggests there are opportunities to be had based on current market trends.

1. Sales of DIY and gardening tools went through the roof during the coronavirus outbreak. This includes items like paint, building materials, equipment and tools, and plants and seeds for gardening.

FACT: Online sales of home improvement and gardening retail products grew by almost 50%.

2. The government's recently published 'Our Plan to Rebuild' strategy commits to building on the carbon reductions experienced since the lockdown began. Homeowners can make the most of financial incentives from the government.

FACT: Vouchers worth up to £5,000 will be given to homeowners and landlords to make their homes more energy efficient.

3. More and more homeowners are finding the time and budget for projects they otherwise would not have attempted.

FACT: Almost one quarter (23%) of respondents are planning to redecorate their interior.

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