DIY in Europe Denmark
Danish consumers are prepared to spend more money and are still set on improving their homes. Although they had a little less faith in the present and future economic situation in May compared to the evaluation in April, this development is not seen as alarming, since information from the Danish Bureau of Statistics reveals that overall private consumption was 1.3 per cent higher in the first quarter of this year than in the fourth quarter of last year. The consumption of “other goods”, including DIY products, grew by a respectable 1.7 per cent over this period. Last year the DIY and timber market posted a turnover of about DKK 400 bn (54 bn euro).
Sales of household appliances in the first quarter are up on last year, which should also be considered a positive indicator as it implies that the sale of kitchens is still on the go. Every year Danes buy about one million new appliances. Consequently a growing number of DIY superstores are extending their kitchen range to include hobs, ovens, fridges and freezers and similar items.
What could also have a positive effect on this year’s turnover in the DIY and building materials trade is the fact that last year’s slump in the construction industry has had very little impact on the new-build housing market, where the employment rate has gone up. The first quarter saw the general employment rate up by 0.9 per cent and a particularly strong increase where the construction of new houses is concerned: here employment has gone up by 4.9 per cent. This development will also have a positive knock-on effect on the DIY market.