Figures suggest a “summer of DIY” declares Ironmongery Online

In April Visa reported that consumer spending at UK DIY and household stores using their credit cards was up over 6% during the Easter weekend compared to 2013 as homeowners continued to invest in their properties, buoyed by the strong housing market. The company reported almost £210 million was spent over the four day weekend compared to around £196 million during Easter 2013. The figure was 17% higher than during Easter 2012.

In May Topps Tiles reported pre-tax profit soaring from £4.7m to £8m in its half year to March 29 helped by improving consumer confidence. Like-for-likes jumped 10.2% over the half and continued to grow in its second half, advancing 5.6% in the seven weeks to May 17.

More generally UK consumer confidence continues to rise. Consumer confidence is at its highest level for more than two years, in a further sign the UK recovery is gathering pace. Consumers are particularly confident about disposable income, according to the Deloitte Consumer Tracker, with confidence rising at its fastest level since the tracker began more than two years ago. The pick-up in confidence has led to an increase in spending on “big-ticket” items such as holidays and electrical goods, Deloitte said, and that is expected to continue throughout the year, as shoppers said they intend to continue increasing their discretionary spending.

Vicky Tomline, Head of Sales and Marketing at leading hardware retailer Ironmongery Online, said this week “These figures are very welcome and seem to point to potentially one of the best summers ever for the DIY and hardware sector.”

Ironmongery Online was established in 2006 and are based near Stourbridge, West Midlands. Their website lists thousands of products available for trade and DIY sectors. The company specialises in hinges, door furniture and general ironmongery but offers a one-stop shop for the general public and trade.

It appears that the growth in the DIY sector has also benefited from the growth in UK house prices. The most recent figures from the Office for National Statistics (ONS) showed average property values increased by 8% in the year to March to £252,000, down slightly from the 9.2% rise recorded a month earlier.

Vicky added “It appears that homeowners are undertaking DIY jobs to maximise the value of their homes – with prices rising this fast adding 2-3% to the value can translate into £000s so DIY is perhaps being seen as a wise investment.”

More information on Ironmongery Online can be found on their website at www.ironmongeryonline.com.