Market downturn in UK

Data collected by Verdict market researchers show that the UK’s DIY and garden market contracted by 4.1 per cent in value terms in 2008, which is much more severely than in 2005 and 2006. It will contract by £ 1.0 bn by comparison with the boom year of 2004. The market researchers are of the opinion that the continuing deterioration of market conditions in 2009 offers few possibilities for DIY retailers to protect their position, apart from cutting costs and reducing debts.