The global home improvement market reached USD 317.110 bn in 2022, up 5 per cent on 2019 demand, while the garden market was up 14 per cent at USD 117.078 bn. These figures were obtained by Euromonitor. Nick Stene, global head of home and garden, stated them in a presentation at the virtual Global DIY Summit. However, according to these figures, the overall home and garden market, including furniture and housewares, has increased by only 2 per cent in real terms compared to 2019, assuming an inflation rate of 6.7 per cent.
In his presentation, Stene also took an in-depth look at risk management, shifting purchasing under the new realities of geopolitics and climate change, and pricing in the current uncertain times. "Mr Putin has given us a wakeup call around risk and around exposure," he said. For the industry, he is rather optimistic about the future: "Everything is unstable. Is that necessarily a bad thing?"