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UK Garden Equipment Market Report - 2012
- 12 March 2012
Executive Summary
This Key Note Market Report focuses on the garden industry in the UK. It covers lawnmowers, powered tools and equipment, hand tools and water management equipment. Key Note estimates the market to have been worth £893m at retail selling prices (rsp) in 2011, having grown by 2.1% — a higher rate than that recorded in 2010.
Major brands dominate the garden equipment industry. The products are primarily sold in home improvement stores, though garden centre sales are doing well, and online sales are increasing.
The garden equipment industry tends to suffer when the market is down because these tools are not considered essentials by consumers and so are among the first items to go when spending is cut back. Moreover, the durability of the goods and the saturated market means that demand is limited. Finally, the limited innovation in the market tightens dynamism in the industry.
However, the growing popularity of gardening in the UK is counter-balancing this status quo. Gardening is increasingly seen as an enjoyable activity that is good for human health and the environment. In addition, home-grown food allows consumers to save money during the economic crisis. Furthermore, gardening is a popular pastime with retirees and, as baby boomers finish their careers, the number of people taking up gardening activities is expected to increase.
These circumstances are breathing life into an industry that has generally been considered vulnerable to weather and economic conditions. This, combined with the arrival of more practical tools, has brightened the prospects of the garden equipment market. Gardening is becoming ever more enjoyable for consumers owing to the introduction, for example, of the lithium-ion battery, which creates versatility across ranges; increased manoeuvrability with cordless products; and the introduction of more lightweight, ergonomically designed products.
However, economic difficulties should not be forgotten, and the closure of Focus DIY is evidence of the impact the economic downturn is having on the market. 2012 is likely to be a challenging year for the industry. Nevertheless, Key Note believes that, if manufacturers utilise the surge in gardening’s popularity to their advantage, by launching campaigns, kits and tools that facilitate the gardening experience, then continued industry growth can be expected. Key Note anticipates that the value of the UK gardening market will hit £1bn by 2015.
Source: keynote.co.uk - UK Garden Equipment Market Report - 2012
