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Players that operate in the home sectors constitute the segment of British retailing that is likely to be hit hardest by Brexit. This is the view of Matthew Rubin, senior analyst DIY & home at the market research organisation Verdict. The main reasons he gives for this opinion are the negative effects on the housing market, a heavily weakened pound and a likely fall in consumer confidence. "The previous Verdict forecast for the combined home sectors (DIY and gardening, furniture and floorcoverings and homewares) of 2.4 per cent growth in 2016 is now looking less achievable," writes the analyst. In addition, the already thin margins could be squeezed further.
Home improvement retailers are in the process of restructuring their store networks and Brexit could cause problems for the new player Bunnings above all as it implements the complete rebranding of its recent acquisition, Homebase. However, the relatively major advances made by traditional DIY retailers with regard to their multichannel operations are viewed as an advantage.
Home improvement retailers are in the process of restructuring their store networks and Brexit could cause problems for the new player Bunnings above all as it implements the complete rebranding of its recent acquisition, Homebase. However, the relatively major advances made by traditional DIY retailers with regard to their multichannel operations are viewed as an advantage.
