The year has come to an end, and despite seeing an end to many of the Covid-19 restrictions, it was still a turbulent year. Globally, inflation as in 2022 has not been seen since 1982. Further to this, energy prices in Europe have soared, with gas bills increasing by 111% and electricity by 69% on average. This turbulence has led to a difficulty in forecasting for the upcoming years, but this article will highlight some of the potential trends we might see in the 2023.
Trends in DIY 2023
One of the big areas seeing an increase in 2022, and likely to continue into 2023, is the impact of rising energy costs. This has had a knock-on effect on a sharp boost in projects leading to energy savings in the home. In addition, with the cost of living crisis, more customers are now completing these types of projects themselves (DIY) rather than hiring professionals (DIFM).
Supply Chain Trends 2023
We are also seeing changes and growing developments in the area of supply chain trends in 2023. Sustainable supply trends are being sought more heavily now, with some organisations seeking to diversify their supply chains, as well as increasing elastic logistics to reduce reliance on certain areas, avoid potential disruption and increase flexibility respectively. A key to sustainable supply chains are circular supply chains, with a goal of moving towards a Cradle to Cradle economy.
Energy Saving DIY Projects
As highlighted above, consumers are pursuing energy saving DIY projects to promote energy efficient homes, and in particular, cost efficient energy saving projects. Due to the inflation rates, these projects are more likely to be “small projects” (like fitting a new shower head or installing thicker curtains) rather than “big projects” (installing solar panels).
Projects that promote more responsible and sustainable consumption
Some examples of projects that consumers are progressively looking more towards are:
- Replacing a traditional showerhead with one that reduces water flow and overall water use
- Thicker curtains that beat the winter chill and retain heat inside
- Replacing traditional lighting with LED lightbulbs which use less electricity, alongside other advantages of LED lighting in the home
- Replacing single glazed windows with double or triple glazing, which retain warmth inside. This project does require more initial investment, but the advantages of double-glazed windows should not be overlooked
- Installing insulation in cavity spaces, making it easier to regulate the temperature inside the home
Know the benefits of DIY
The above list is far from exhaustive, but all the projects mentioned can each incrementally increase the energy efficient of a home. Moreover, the savings from some of these projects can be demonstrably seen in a short period of time, and some can be completed with little effort or investment.
2023 may well be one of the most difficult years to make predictions for. Uncertainty to this extent, and this palpable, has not been seen in many years. When viewing the DIY and home improvement industry as a whole, a large variety of global and local factors are building these uncertainties, and business leaders are finding it more difficult to make reliable predictions. However, some likelihoods continue to persist, like rising energy prices, and consumers in turn completing DIY projects to alleviate these and increase the energy efficiency of their homes.
