Spanish manufacturers of hardware and DIY products ended 2022 with a year-on-year increase in sales of 10.6 per cent. With a plus of 11.5 per cent, their sales via the large-scale DIY chains were significantly better than via the traditional speciality trade, with which the manufacturers achieved sales growth of 5.9 per cent.
These figures were published by the manufacturers' association AECOC. In his forecast for the trend going forward, the chairman of the hardware and home improvement division, Jaime Mendoza, remains cautious despite the resilience shown by the sector. "The decline in household savings, fluctuations in production costs and the decline in mortgage lending, which is having a negative impact on the renovation sector, are creating uncertainty about the sector's immediate future," he said.
Despite the uncertain environment, Mendoza appreciates the positioning that the hardware and home improvement sector has achieved in recent years.
"Since the beginning of the pandemic, we have been on the side of consumers who want to beautify their homes so they can work here, enjoy their leisure time and generally spend more time at home. During this time we have shown that we are an indispensable industry."