With the rise in popularity of Pinterest over the last few years, coupled with housing market swings, the DIY (Do It Yourself) industry has experienced a boom. As house prices go up, we find that consumers are trying to save money on various items by finding DIY projects they can complete at home. What we’ve come to appreciate, however, is that many of these DIY projects do require purchases at retail locations, and that means opportunities for sales.
According to a recent Money article, while sales were down in the first quarter of 2016 for many product categories, DIY was not among those impacted. In contrast, some retailers are actually benefiting from the DIY trend: “Sales of DIY materials and garden supplies continue to rise as Americans put more money into their homes, and Home Depot is one of the retailers realizing the benefits. Based on sustained strong sales, the company’s stock is up 17% year over year.” Read more on this here: http://time.com/money/4341826/walmart-home-depot-tj-maxx-strong-sales/.
Home improvement is a major factor. According to CNBC, “the do-it-yourself home improvement market is running hot again,” and people, looking to save money while increasing the value of their homes, are willing to put in the work to build sweat equity. Even though the article is specific to the U.S., the situation is much the same in Canada.
So, how can you use visual merchandising to take advantage of the rise in DIY in your own store? Here are a just a few tips to get you started.
Creating specific DIY displays is a great way to create a buzz and get people thinking about what they can do, on their own, in a budget-friendly way. From furniture to home décor, DIY encompasses a whole range of ‘crafting’ that people need items for. Group like items together or create a general crafting promotion or display.
Host a DIY building seminar where space permits. Many home improvement retailers have taken advantage of this. By holding the seminar, you also benefit from the sale of items required to build and create engagement with customers that can help establish brand loyalty.
Brands: if you sell items that fit the DIY market, highlight those. Create your own promotional displays to get people talking.
Don’t write-off the DIY industry as a lost battle – take advantage of it. Build out a visual merchandising strategy that harnesses its power and get people shopping for their DIY needs.
Want some help getting things underway? Call Storesupport today at 1-877-421-5081.