Our markets

We are the market leader in the UK and France, two of the largest retail markets in Europe. Each has large, relatively wealthy populations and levels of home ownership are high. Compared with the whole European Union (EU), a relatively higher proportion of consumer retail expenditure is on home improvement products and services. The home improvement markets in these countries are well-developed, large and have benefited from increasing consumer wealth and growth in the number of homes. Consumers are served by large, well-established national retailers and small local specialists.

One major difference between the UK and France is the level of consumer debt, which is significantly higher in the UK. In 2008 the UK home improvement market declined by around 4% as the economic environment worsened, impacting consumer spending. During the first half of 2009 the market was more resilient, with renewed consumer interest in the home and DIY helping to offset the negative impacts of the recession and weak housing market. The French market has been more stable relatively, with consumers less impacted by rising interest rates.