Locks and Security News: your weekly locks and security industry newsletter
17th April 2024 Issue no. 701

Your industry news - first

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Home and garden market will have fully recovered by 2013

By 2013, the home and garden market will have fully recovered from the recession, according to research from Mintel.

This may mean that professionals from builders to gardeners and locksmiths experience a rise in business, sparking a positive turn of events for their respective industries.

Mintel's recent British Lifestyles 2011 report revealed that over the next year and a half, growth will continue within these sectors, DIYweek.net reported. Although there may be a slight dip in 2012, it seems spending levels on home and gardens will reflect those seen pre-recession by 2013.

Mintel prides itself on provide "comprehensive" research, Mintel.com revealed, so it is thought industry professionals will likely trust the predictions.
Furthermore, the home and garden industries will likely welcome the positive outlook; particularly given recent reports suggested things might get worse before they can get better, correlating with Mintel's findings.

Alexandra Richmond, a lifestyle analyst for Mintel, confirmed this, stating: "The cost of living is rising and we are changing the way we shop as a result. Half of us no longer want to pay full price for anything."

Despite this, if electricians, locksmiths and other professionals can hold out for just 18 months longer, then they will probably experienced increased profits. In order to achieve this however, they may have to put extra effort into retaining their existing customers - as Richmond added brand loyalty had effectively gone out the window during the recession.

14th September 2011