Growth once again

GfK Marketing Services UK calculate that the British market for motorised tools showed growth by value of 1.1 per cent in 2007 for the first time after years of decline. However, the trend in terms of volume was downward (-7.2 per cent). Branded products were able to hold their own against private labels, which recorded their lowest market share (45 per cent) since 2003. Drills proved to be driving the growth, with an increase in value of 5 per cent. The market for hand tools grew by 1.76 per cent in value and 5 per cent in volume. Average prices declined by 3 per cent in 2007, according to GfK. The proportion of own-label products boasted an increase of 9 per cent by value and 13.4 per cent by volume.