Data speaks for itself, and according to Technavio, the DIY home improvement market share in Europe is expected to increase by USD 26.42 billion from 2021 to 2025. If you want to learn more about DIY and Home improvement market potential in Europe, this blog is a must-read.
Leading DIY Retails within Europe
The European DIY market consists of three main players located in the UK, France, and Germany. Some of the leading names are Kingfisher Group, Brico Depot, ADEO, OBI, etc. The UK's Kingfisher Group runs several other home improvement and hardware stores across Europe. In the United Kingdom, the Group owns the B&Q and Screwfix brands, the former of which has seen a decline in sales in recent years. Brico Depot, located in France, is owned by the kingfisher Group too.
Based on turnover, France's Group Adeo is the largest DIY retail in Europe, with an annual turnover of 21 billion euros. Another large company is ADEO, located primarily in France.
Germany is another European country that boasts a vibrant DIY retail market, with successful chains such as OBI, Bauhaus, and Hagebau to name a few. Within Germany, Hagebau and Obi are the most successful in terms of DIY retail presence.
Latest Trends & Developments in the European Home Improvement Market
The DIY home improvement market in Europe is experiencing several technological advances over the past years. The key competitors in the market, such as ADEO, Kingfisher, and Travis Perkins, have improvised their product differentiation factors, including innovation and product assortment, to overcome the intense competition. Vendors are continuously working toward the development of innovative products. In addition, the integration of advanced technologies in home automation products offers greater security and reliability than traditional home products.
Big-box retailers have seen a boost in sales by promoting and selling their products online. More often, small businesses excel over the big box stores because they are investing more into customer relationships. Even though the online stores are popping up, DIYers are more likely to make the final purchase in-store, especially for products such as paint.
Leading DIY Tradeshow
If you would like to learn more about the European DIY market, the best way to do so is to visit one of the trade shows. The most anticipating DIY trade show in Europe is Eisenwarenmesse, which takes place biannually in Cologne, Germany. There most presented product categories are tools, industrial supplies, fasteners & fixing, fittings, and home improvement. This year, the event will happen at the end of September, and the expected number of exhibitors could exceed two thousand.
Why Should You Consider Entering the European DIY & Home Improvement Market?
Many consumers are now spending a lot more money and time on improving their homes by themselves. A recent survey conducted in Europe found out that half of the consumers did more DIY tasks simply because 'they loved it. UK, Germany, and France are the fast-growing and most perspective market leaders and therefore the locations you should consider first if you are planning your EU expansion.
In 2019, the DIY home improvement market broke all the records with a turnover of EUR 618 billion. North America and Europe are the leaders in the market with shares of 86.6%. Moreover, the three major DIY markets in Europe (Germany, France, and the United Kingdom) represent 50% of the continent’s market. This only shows you that if you already have a successful business in North America, the chances that you will be well-accepted in Europe are high.
Do you think it's the right moment for your business to grow in Europe? With many different languages, countries, and cultural backgrounds - the European market is not easy to penetrate for any North American company. To be successful, you will need boots on the ground in Europe. And that is where EuroDev can help you out! Our company was established in 1996 in the Netherlands with a single, defined purpose to help mid-sized North American companies expand their business in Europe. So far, we have partnered up with over 500 companies and helped them define and meet their European business goals. Services provided include Sales Outsourcing, HR Outsourcing, and Digital Marketing.
Source: Statista.com, Technavio