DIY to continue as star performer with 7.4% growth

The DIY sector will grow at almost twice the rate of the whole retail industry in the next three years as it continues to boom, according to research from Focus Group and Verdict.

The number-two player launched the first Focus Wickes DIY Monitor to track customer spend and trend patterns.

Until 2005, DIY is predicted to grow at a rate of 7.4 per cent a year, while all retail expenditure growth is set to remain just under 4 per cent.

The monitor, which polled consumers spending over£100 on DIY in the last four months, found that, because of high house prices, 63 per cent would rather invest in home improvements than move.

Verdict Research chairman Richard Hyman said: 'The home is becoming much more important in economic and lifestyle terms. People are spending more time at home. Consumers are moving from personal to home adornment.'