DIY and home improvement: a growing sector
With a compound annual growth rate (CAGR) of 9.94%(1), the DIY and home improvement sector is one of the fastest growing segments in retail. Businesses are already making significant strategic changes to keep up with consumer demand – in the UK market alone we’ve seen Screwfix increase its number of stores by 27% and B&Q launch its new e-commerce platform(2).
But with growth comes risk. Scaling up can disrupt operations – whether that’s online, in-store or in the back office. Our retail experts have gathered a list of the top four technologies driving seamless omnichannel shopping in this new era for DIY and home improvement stores. Keep reading to discover how to stay one step ahead in this competitive and fast-growing marketplace!
SOLUTION #1: CLOUD-NATIVE CHECKOUTS FOR DIY RETAILERS
The challenge
Digitally-savvy consumers are shopping across multiple channels and expect consistent branded experiences at every checkout – whether that’s physical, on a mobile App or online.
The solution
In the next 12-24 months, DIY and home improvement retailers should be implementing a cloud-based checkout solution that truly integrates all backend systems with customer-facing channels through one single platform, unifying pricing and promotions, enabling continuous updates with no downtime, and personalizing shopping journeys.
Read more about cloud-native checkouts >
SOLUTION #2: CLICK & COLLECT IN THE HOME IMPROVEMENT SECTOR
The challenge
The rise of e-commerce has enabled retailers to list many more items than they could physically display on the shelves. Customers are capitalizing on this by buying online and picking up in-store (BOPIS). This is a popular checkout option when people purchase bulky items.
The solution
Businesses that prioritize flexible shopping will establish themselves as a convenient choice. You should be searching for a Click & Collect product that enables easy picking for staff and sends automated, personalized updates to customers regarding their order.
Discover what a click & collect tool could do for your business >
SOLUTION #3: SCAN & GO IN DIY & HOME IMPROVEMENT STORES
The challenge
Customers want to design their own shopping experience, prioritizing speed and avoiding queues at the checkouts. They have become familiar with Scan & Go solutions in other types of retailers such as supermarkets, and expect the same level of convenience at your store.
The solution
You need a Point of Sales (POS) agnostic solution that facilitates real-time baskets, powers simple payments and integrates with loyalty systems for the ultimate shopping experience.
Reveal the best-of-breed scan & go solution >
SOLUTION #4: LOSS PREVENTION STRATEGIES FOR DIY & HOME IMPROVEMENT BUSINESSES
The challenge
With many countries across Europe experiencing a cost-of-living crisis, stores have seen shrinkage rates spiral. Theft is a huge contributor to shrink, with products such as tools, hardware and branded appliances being targeted. DIY retailers must find a way to prevent loss without compromising the shopping journey or impacting customer experience.
The solution
It’s vital for DIY and home improvement retailers to onboard a self-service loss prevention solution that leverages Artificial Intelligence (AI) and Machine Learning (ML) to power informed decision-making, enables accurate rescans, and liberates store staff to use their time more efficiently.
Read how self-service loss prevention is delivering game-changing results for retailers >
Cutting-edge checkouts for DIY and home improvement
The landscape of DIY is changing, with more people than ever before investing in their homes to make them more comfortable, sustainable and suitable for modern living. The retailers that employ proactive strategies and work towards a seamless, omnichannel shopping experience will reap the financial rewards.
