Decline in DIY market forecast for 2020 in the wake of the COVID-19 epidemic
Wpis dostępny jest także w języku: polski
2019 marked another successive year in which there was an increase in the value of the DIY retail market in Poland. The COVID-19 epidemic in 2020 suddenly interrupted a healthy period on the market. According to forecasts in PMR’s latest report, “DIY retail trade in Poland 2020. Market analysis and growth forecasts for 2020-2025”, in 2020 the value of this market will fall by 0.3% in comparison with 2019.
Market growth interrupted by the COVID-19 epidemic
Recent years have been characterised by a very healthy situation on the housing market, which has been beating successive records in terms of the number of homes on which construction work is underway or which have been put into use. In addition, this was a very good time for renovations because of rising salaries, low unemployment rates, support for household budgets contained in the Family 500+ programme and, in general, a greater level of interest in residences in Poland and a desire to improve housing conditions.
The COVID-19 epidemic will suddenly disrupt the period of prosperity in the market. As a result, the value of the DIY retail market in Poland is expected to fall in 2020. However, according to PMR forecasts, the 0.3% year-on-year reduction will be relatively small in comparison with other non-food product areas.
The market for DIY products has been positively affected by the fact that shops continued to open during the epidemic (with no change at first, but establishments then opening only on working days), the decisions of some consumers to spend time at home on renovations, and the high number of flats which have to be completed in any circumstances.
Value and growth of DIY retail market in Poland