Booming DIY sales buck the trend

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The Independent Online

DIY stores are bucking the trend of gloom among retailers, which have been struggling to achieve growth in sales this year. Research by consultants Verdict has shown the DIY market has enjoyed a boom.

DIY stores are bucking the trend of gloom among retailers, which have been struggling to achieve growth in sales this year. Research by consultants Verdict has shown the DIY market has enjoyed a boom.

The market was worth £11.1bn in 1998 and is expected by Verdict to reach £12.3bn this year, a jump of 10.7 per cent and the best performance in an otherwise beleaguered retail sector, the consultants said.

The strong performance was attributed to a spike in the population, which has seen the children of the 1960s hippy generation mature into affluent consumers.

The result has been double-digit sales growth for DIY and gardening expenditure each year since 1996.

The boom is also being helped by the post-war baby boomers, who were teenagers in the 1960s. They have become affluent "empty-nesters".

The biggest beneficiary of the DIY boom is market leader B&Q whose warehouse chain increased sales by 48 per cent to £412m in the first half of 2000.

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