Retail Figures Show Growth In DIY Sales

DIY was one of the only sectors that experienced a growth in sales last year, according to a recent report from the Confederation of British Industry (CBI).

The CBI Quarterly Distributive Trades Survey was published earlier this week, showing there was a rise in sales volumes in the grocers, hardware and DIY, and non-store goods such as internet and mail order divisions for the 12 months leading to February 2018.

These areas fared particularly well considering retail sales growth slowed down for the third consecutive month in February and orders were, on the whole, flat.

Despite this, retailers are committing to invest more money as they expect conditions to improve over the next quarter.

CBI head of economic intelligence Anna Leach said: “While trading conditions remain tough, it’s encouraging to see retailers’ investment intentions improving to their highest since August 2015, in addition to signs of renewed business optimism for the first time in more than a year.”

The survey revealed there was a decline in sales of 77 per cent for clothing and 57 per cent for footwear and leather, which demonstrates how popular DIY goods were for both the general public and tradesmen as this sector reported a 46 per cent increase during the 12-month period.

More people may be tempted to buy DIY products such as aerosol primers to renovate their homes instead of moving, after it was revealed property values have increased by 2.2 per cent over the year leading to January 2018.  According to the latest Halifax House Price Index, the average cost of a house rose to £223,285 last month.

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