New Year, New Trends: Looking back at a year of financial recovery after the pandemic but marked by high inflation, now it is time for brands and retailers of the DIY market to prepare themselves for a 2023 full of challenges and tough competition, especially in the e-commerce environment.
If you work in this sector you know how important it is to be agile these days and have up-to-date information on new developments in the industry.
For this reason, we have gathered the top 5 e-commerce trends for the do-it-yourself market in 2023, focusing on Europe.
A Deep Dive into the Online Home, Garden and DIY industry in 2023 Thro…Learn more
The Covid pandemic made people buy home improvement products from home and as this new demand grew, brands and retailers saw the need to invest in building online platforms and distributing their products on several channels, including social media. Social Commerce has become a trendy topic in the e-commerce environment and is now part of almost every sector’s marketing strategy. This new concept can be defined as the promotion and sale of goods and services using social media networks, like Instagram and Facebook.
Like other sectors, the home improvement industry can benefit from using social media platforms to sell more and better to its customers. Thanks to social media, sellers can reach a wider audience, connect with customers and build a community around their brand. Platforms such as Facebook, Instagram, and Pinterest are ideal for brands to bring their products closer to their audience and promote them via targeted advertising campaigns. Lastly, having a presence on social channels allows brands and retailers to have an overview of customer feedback, which helps to identify possible issues in real-time and provide transparency.
In order to keep up with the rise of social media use in the DIY sector, Lengow can provide you with the right tools to smash the competition. Thanks to our partnerships with the main social brands Snapchat, TikTok, Instagram Facebook, and Pinterest you can set up efficient product ads that target your different audiences. In addition, Lengow has already proven experience in live commerce with current customers on Snapchat which gives businesses like yours the opportunity to join one of the newest innovations in social commerce.
Marketplaces are becoming the top platform for online shoppers globally and it is estimated that by 2027 they will account for two-thirds of all e-commerce sales.
Therefore it is no surprise that brands and retailers are getting more active on them, especially when it comes to the B2B Home & Garden Marketplaces. Since the demand for this type of platform is growing, new B2B marketplaces are being created each year for this sector and one of the most prominent examples is ManoMano, the top European B2B platform for businesses in the building, plumbing, and electrical industries.
Apart from being present on B2C marketplaces, brands and retailers should also consider selling on platforms directed at businesses in order to reach new customers and expand their reach. By diversifying your customer base as a DIY seller, you will be able to increase your sales and help grow your business. Additionally, B2B marketplaces make the life of DIY sellers easier by helping them streamline their business operations and for instance, providing support for advertising and product listing tools. Last but not least, there is a higher level of security when selling on B2B marketplaces than in other e-commerce channels.
Good news: Lengow can help you make your entrance into the world of B2B marketplaces seem effortless by automating your omnichannel approach and speeding up your time to market. Our B2B offer keeps on growing and is right now constituted by the following marketplaces: Bricoman, ManoMano, and Distriartisan.
The Home & Garden/ DIY industry is characterised by being bound to seasonality as buyers that want to do their DIY projects have different needs depending on the weather conditions and specific holidays. Every season shows a different peak in demand, as we have listed below:
Although having seasonal peaks might sound discouraging at first, it actually can be a great opportunity for DIY sellers to boost sales. Holidays like Christmas, for example, can create a sense of urgency for consumers to complete home improvement projects. Imagine being the host of this year’s Christmas Eve dinner and just realising that your dinner table might need an extra varnish or repair. You probably would decide to run immediately to the internet and search for the best price and quickest offer online.
If you want your products to be the number one choice for a customer like the one described above, you need to anticipate and prepare ahead of time for seasonal trends. By implementing discounts for seasonal products before your competition you will be able to attract new customers and own a bigger market share. By taking advantage of seasonality, a DIY seller can increase its revenue and capitalise on the increased demand for its products.
In case you are wondering how you can prepare your next sales campaign for the seasonal peaks, you should know that you need to:
Niche marketplaces (or vertical marketplaces) are industry-focused platforms and can be a great asset to home improvement brands and retailers as 35% of global consumers shop there, especially for home products (and apparel). This trend is growing and there are more and more specialised home, garden and DIY marketplaces. Customers are yearning for customised, one-of-a-kind products that are only available in specialised marketplaces. These marketplaces meet their particular needs by offering a more individualised level of customer service, which is valued and rewarded with loyalty.
The DIY market can benefit from various opportunities these marketplaces offer. As clients search specifically for DIY products, sellers can have privileged access to a highly targeted audience and get high visibility. Therefore, businesses selling on niche marketplaces can increase their conversion rates and generate loyal customers thanks to individualised customer service. In addition, usually, niche marketplaces have lower competition which gives companies a competitive advantage.
Selling on niche marketplaces has never been easier. As with any other marketplace, Lengow offers you the possibility to:
In case you are unsure which niche marketplaces fit your brand the most, Lengow can help you figure out which products to sell on the different marketplaces.
Here are the DIY sector’s vertical marketplaces available on Lengow’s platform:
BricoCash, BricoMan, BricoMarché, BricoPrivé, Bricorama, Conforama, Spareka, But, Distriartisan, Leroy Merlin, ManoMano, Maisons du Monde
Today customers are more demanding than ever before and for a good reason: not only does the current economic crisis make people favourise the cheapest prices at the fastest speed but also factors like climate change and product transparency are key for consumers.
Another strong demand is for personalised customer experience. Customers enjoy individually-tailored services that niche marketplaces can fulfill, for example. It is crucial for brands to leverage data more efficiently to offer hyper-personalized experiences as consumer loyalty continues to decline.
In the DIY market sellers should make sure to give prices, ethically sourced and green manufacturing materials priority to stand out and be transparent with any product data.
Being customer-centric is no longer an option but mandatory for any DIY seller. A DIY merchant can better understand what their clients want and need by attentively observing their behavior and purchasing trends. Making informed judgments about product development, marketing and advertising tactics, and customer service is possible with the use of this information.
As a seller yourself, you can stand out from the competition and deliver a better customer experience by providing products that satisfy clients’ demands and address any pain points or issues.
Additionally, responding to consumer demand can boost repeat business and customer loyalty, resulting in long-term growth and stability.
Thanks to Lengow’s marketplace offer any seller in the DIY industry will be able to offer transparent and up-to-date product information, as well as sell destocked products with Showroomprivé or Veepee. By doing this, brands and retailers can improve and manage sustainability content (material, product origin, C0²…) from one single platform.
Additionally, if you want to provide your customers with a personalised customer experience you should think about selling on social media, be present on niche marketplaces, and consider analysing customers’ feedback on platforms such as Amazon to improve your products and services.
When it comes to the price sensitivity of shoppers make sure to develop a dynamic pricing strategy, so you always have lower prices than the competition without risking your profit margin.
Although offline revenue share in DIY still outranks the online share as with most sectors, there is no doubt that e-commerce will play a significant role in the growth of the industry. Customers are more and more used to online shopping and DIY key players are stepping up their e-commerce strategy to be there when and where buyers need them to be. If you’re a seller looking to enhance your brand’s online conversion rate and stay ahead of current trends, we recommend leveraging data solutions like the ones offered by Lengow. With the right tools, you’ll be well-equipped to meet the challenges of the e-commerce landscape.
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