1. Comment
March 26, 2020

DIY to be one of the more resilient non-food sectors during Covid-19

By GlobalData Retail

The needs-based nature of purchases such as plumbing and heating means that international governments have allowed DIY stores to remain open amid coronavirus lockdown. And although some have closed regardless, there will still be demand as consumers undertake home improvement projects while in self-isolation. The DIY market will demonstrate more resilience than other non-food sectors such as clothing and footwear, homewares, and furniture, where not being able to go out and financial concerns have dampened demand.

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DIY retailers internationally have to think carefully about how best to meet demand for both essential and discretionary home improvement products. A severe decline in footfall has meant that, for many specialists, it is not worth keeping stores open. In Italy, Brico io has opted to close its doors, while in France, Kingfisher has temporarily shuttered its 221 Brico Dépôt and Castorama branches.

Many retailers are wisely focusing on improving their home delivery and click & collect capabilities as demand shifts online. Kingfisher recently revealed plans to introduce a new ‘drive-through’ click & collect option for shoppers in the UK and France, to enable customers to collect their purchases while minimising contact. Toolstation will also transform its stores into ‘essential service click & collect hubs’.

In New Zealand, DIY retailers such as Bunnings have closed to the public, but remain open for trade purposes. Questions should be asked about how much demand there will be for trade, as consumers increasingly worry about tradespeople entering their homes, and as tradespeople themselves self-isolate. Consumers may also delay investing in larger home improvement projects, with many concerned about what the full financial impact of the virus will be.

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Build resilience in the face of COVID-19 disruption

COVID-19 has already affected our lives forever. The way we work, shop, eat, seek medical advice, and socialize will all be different in the future. Quite how different remains to be seen, but all industries must plan for multiple eventualities. Are you interested in actionable insights on the business challenges induced by the pandemic? GlobalData's cross-sector report analyzes the significance of this major disruptive theme across industry verticals. It provides side-by-side research of alternative datasets to present you with unique quantitative analysis of the effects of COVID-19 and how these differ across sectors. Additionally, it offers qualitative analysis of each sector and analyzes COVID-19’s impact on leading companies. Whatever your company’s imminent strategic plans, the long-lasting impact of COVID-19 must not be overlooked. Find out how to futureproof your business operations – download our report today.
by GlobalData
Enter your details here to receive your free Report.