COMMENT


November 2024 www.diyweek.net


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© 2024 Datateam Business Media Ltd. DIY Week incorporates Decor Retailing, DIY Retail Leaders, DIY Superstore, Do-It-Yourself Retailing, Domestic Electrical Appliances, Excellence In Garden Retailing, Excellence In Woodcare Retailing, Excellence In Timber Retailing, Excellence In Tile Retailing, Garden Retail Leaders, Garden Retailing, Hardware Merchandiser, Hardware Trade Journal, Homecentre, Home Storage Retailing, The Ironmonger, Ironmongery & Hardware, Lighting, Martineau & Smith’s Monthly Circular, Mercantile Guardian, Superstore Management, Tools Retailing, and Wholesale Leaders. No part of this publication may be reproduced by any means without prior written permission from the publishers. Every effort is made to ensure the accuracy of material published in DIY Week. However, Datateam Business Media Ltd will not be liable for any inaccuracies. The views expressed by contributors are not necessarily those of the editor or publishers. DIY Week is registered at Stationers’ Hall. ISSN 0954-8823. DIY Week is printed on environmentally friendly paper; both text paper and cover stock are elementary chlorine free and sourced from paper suppliers with a well planned environmental policy. This issue of DIY Week includes some editorial photographs provided and paid for by suppliers. Printed by Buxton Press.


Founded in 1874 No 5,930 -


Adapt to survive


The recent collapse of Homebase highlights significant challenges in the retail sector, particularly for bricks-and-mortar stores in the home improvement market. Acquired by Hilco Capital in 2018 after a disastrous two-year stint under Australian group Wesfarmers, Homebase struggled to recover. Wesfarmers’ attempt to rebrand Homebase into its Australian Bunnings model alienated UK customers, with costly store refits, discontinued product lines, and aggressive changes to pricing and promotional strategies. Despite efforts to stabilize the business, ongoing losses, rising operational costs, and declining footfall ultimately led to its sad demise.


This downfall reflects broader issues in the UK’s retail landscape, such as the rapid shift toward e-commerce. As online competitors like Amazon and Screwfix continue to offer convenience, competitive pricing, and extensive product ranges, traditional retailers like Homebase have found it increasingly difficult to compete. For the UK’s DIY retail sector, Homebase’s failure serves as a cautionary tale. Retailers must adapt to changing market conditions by integrating digital and physical sales channels, optimizing supply chains, and understanding customer preferences. Those who fail to innovate may face a similar fate. The collapse also underscores the importance of localized strategies. Wesfarmers’ missteps highlighted the dangers of imposing foreign business models without considering regional differences. For UK DIY retailers to thrive, they must embrace technological advancements, invest in customer-centric approaches, and find ways to differentiate themselves in an increasingly competitive market.


In This Issue... Neil Mead, Editorial Director


P4 / NEWS


The latest headlines and breaking news from across the home improvement and garden sectors


P11 / LIGHTING & ELECTRICAL


As smart homes become more integrated, the demand for advanced sensor technology is on the rise


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Published by P20 / HARDWARE & PLUMBING


Plumbing issues can significantly affect a property’s value, causing potential buyers to reconsider their offers


P29 / CLEANING & LAUNDRY


With a few simple ingredients from the kitchen, you can create powerful and effective cleaning solutions


become a stockist at dktools.com


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