- Both categories see surge in spending in first quarter of 2014
- Strong housing market helps to drive 14 per cent growth in DIY store spending, while garden centres boosted 22 per cent year on year
- Good weather forecast and expected seasonal discounting means trend likely to continue over the Easter break
DIY stores and garden centres are expected to continue their strong start to 2014, with DIY outlets having seen spending growth of 14 per cent in the first quarter of 2014 versus the same period last year and garden centres enjoying growth of 22 per cent over the same timeframe. This insight into consumer spending trends comes from Barclaycard, which processes nearly half of all the UK’s debit and credit card transactions.
The surge in the housing market, boosted by the Government’s Help to Buy scheme, has contributed to both categories of retailer posting their best performance in two years.
Chris Wood, Managing Director at Barclaycard, said:
“The number of houses sold in the UK has grown by nearly 25 per cent since the Help to Buy programme was implemented last April along with growing economic confidence, and that is having a positive knock on for DIY stores and garden centres. They are both bucking the wider retail spending trend which has seen much lower growth at 2.4 per cent in the first quarter of this year.
“The good weather forecast for much of the Easter weekend means both categories are likely to continue their strong start to the year. Whether it’s for a fresh coat of paint, new garden furniture or a full kitchen remodel, homeowners will be hunting out great deals as stores compete to draw shoppers in on what is traditionally an important weekend for both sectors.”
