DIY tools are hugely popular items in a wide range of hardware stores, supermarkets and online outlets, and, unsurprisingly, they can also be very expensive.
From saws and hammers to heavy duty glues and tapes, maintaining a home or machinery can be very troublesome and consuming work, so it’s important that homes have a quality range of DIY tools and accessories available.
The demand of DIY tools and accessories isn’t going anywhere anytime soon, so having a quality range of products could be a great asset to a wide range of businesses.
For businesses and enterprises to be as profitable as possible, it’s important that they offer great value to their customers, but obtain their stock for the best possible prices.
An excellent selection of DIY tools and accessories are widely available in wholesale, so businesses can purchase large quantities and pass on that value that customers will appreciate.
Although some online wholesalers may require shoppers to register and authenticate, they offer businesses the chance to access cheap bulk deals.
In May last year, it was revealed by Lloyds Bank that DIY spending had increased by 13% on the previous year and was at its highest since 2013, at a whopping £5.8 billion.
The research also showed that for every £1 spent on tradesman, a UK household spent £4 on DIY tools and materials, indicating that Britons spend more doing the job themselves than hiring in experts.
And that’s not particularly surprising, when the rise of the internet and online material is considered. These days, rather than taking broken machinery to an expert, anyone can go to YouTube and root out a tutorial video.
“Taking a DIY approach to home improvements helps cut costs and provides homeowners with the opportunity to put their own distinctive stamp on their property,” explained Andrew Mason, Lloyds Bank Mortgage Products Director.
DIY customers are a varying and wide group of society. It is estimated that males make up 55.6% of DIY shoppers, and female DIY shoppers are on the rise, with an increase of around 1.5% between 2013 and 2014.
There have also been reports of ‘women-friendly’ DIY store or department makeovers yielding impressing returns, meaning that the one time predominantly male-driven industry is no longer that way.
This shows the importance of the availability of DIY tools and accessories for women and the potential of stocking ‘female’ stores with a range of DIY tools. By marketing DIY towards women, as well as men, businesses might be able to improve their sales.
In conclusion, the DIY industry seems just as strong as ever, with many opportunities for businesses if they stock up from the right source at the right prices.