Industry gathering in Athens

A stable industry with a few challenges to overcome: this was the picture of the DIY sector in Greece painted at the 16th DIY & Home Improvement Conference in Athens in mid-November. “Consumers are investing in their homes,” said Prokopis Karydakis, describing the situation. He is CEO of Karydakis Media, the publisher that organized the conference. “Knowledge and cooperation create strong companies and satisfied customers,” said Karydakis, calling on the approximately 250 participants to tackle the challenges of the market together.

The organizers were able to secure Greek Digital Minister Dimitris Papastergiou, a self-confessed DIY enthusiast, for the opening statement. He expressed his conviction that technology and digitalization are opening up new opportunities in this industry through simplified processes.

“Of course we are in a crisis,” said TV business journalist Constantinos Davlos at the start of his presentation. He warned that consumers are not feeling the effects of the upturn in certain areas of the economy in their wallets. Although nominal incomes have recently risen by 3.2 percent, in real terms they have fallen by 1.1 percent.

Davlos emphatically pointed out the specific population structure in Greece: it is not just an aging population, as in other countries. Rather, the country faces the problem that the population is concentrated in a few cities, especially Athens. Half of Greeks live on 4.3 percent of the country's land area, and 80 percent on a quarter of the land area. While people are moving away from other regions of the country and leaving their homes empty – up to 900,000 houses – they can no longer afford to buy property in their new place of residence. Housing costs in Athens are rising.

A recent consumer survey presented by Xenia Kourtoglou from Focus Bari has determined how consumers feel about DIY in this situation. Her message to companies operating in Greece: Greeks are still interested in DIY. For younger people, creativity is the main focus, while for older people it is maintaining their homes. After all, around a quarter of Greeks cite DIY as a hobby. For more than 70 percent, maintaining their homes is important. “The home continues to be a priority,” says the market researcher.

The…