Registrations for the 11th Global DIY-Summit, taking place from the 11-13th of June, are now open. Welcoming the entire home improvement industry in Lisbon, this year’s Global DIY-Summit will be held under the banner “A New World Order: Redefining DIY for a Global Future”.
The DIY, Home Improvement industry and garden industry has faced enormous challenges in recent years, with many of these having foundations in global events that have shifted the dynamics in retailing. This New World Order, particularly embodied by the recent inauguration of Donald Trump as the 47th President of the USA, is likely to present more challenges and opportunities for the industry. The Global DIY-Summit presents itself as the stand-alone event to have a voice in this redefinition of the industry.
A New World Order
The term “New World Order” is not necessarily a modern term, rather one that has seen several iterations.
The term was first shared in wide use following World War 1 and in connection with Woodrow Wilson’s global zeitgeist. After the war, Wilson argued for a new world order which transcended traditional great power politics, instead emphasizing collective security, democracy and self-determination.
The term was referred to regularly throughout the rest of the 20th century and into the 21st century, whether in relation to the end of the cold war, the rise of China as a global superpower, unrest in the Middle East and more recently following the Russian invasion of Ukraine.
What is A New World Order?
A New World Order can be defined as a new period or era in history following dramatic change, be this either in politics, a balance of power or through technological advancements.
In relation to a New World Order in the DIY, Home Improvement industry and garden industry, this ties into new frontiers in retail more generally as well as political changes around the world and the impacts these might have on the industry.
The ever-increasing presence of online marketplaces, role of sustainability, organizational change, generational Shifts and omnipresent topic of AI are all factors that tie into this New World Order in the DIY, Home Improvement industry and garden industry.
Expectations of a New World Order
Considering the topics of change mentioned above, the New World Order could be forecast to gravitate towards a number of key factors.
The Role of Online and Generational Change
On the topic of marketplaces and increase in online sales, we can predict that these will continue to increase. In turn, companies will have to pay closer attention to the topics that surround these online sales, for example logistics and last-mile delivery, online marketing and the return of goods.
The increase in online sales also ties into generational shift. As new generations, particularly those that have been raised as digital natives, enter their prime spending years we are likely to see a continued increase in online sales as these customers are accustomed to purchasing online. In order to continue attracting these generations as customers it will be essential to have a functioning, accessible and attractive online offer.
The Relevance of Sustainability
The topic of sustainability continues to be present, but questions are beginning to arise about the longevity of this theme. For example, despite the relevance placed on this topic in most of Europe and the western world, the recent re-election of Donald Trump as President of the USA, especially winning the popular vote, could be extrapolated as a trend away from sustainability centred development. This can also be seen with Friedrich Merz of the Christian Democratic Union party in Germany who recently announced his desire to build 50 gas-fired power plants if elected in the February snap election.
Despite these developments, younger generations continue to place strong emphasis on sustainability. A 2021 study by Barclaycard found that 82% of Gen-Z express concern about the state of the planet and are willing to take action, with 72% saying they have already changed their behaviour to reduce their impact on the environment.
Although defined as a period following great change, there are certain fundamentals that will consistently win out and best equip companies and individuals to adapt to a New World Order successfully.
These fundamentals, such as adaptability, resilience & foresight, are not necessarily easy to integrate into business, but with consideration and attention they can ensure businesses navigate this New World Order and demonstrate growth into the future.
With the banner “A New World Order: Redefining DIY for a Global Future”, the 11th Global DIY-Summit, taking place from the 11-13th of June in Lisbon, will be the event to ensure the DIY, Home Improvement and Garden industry and abreast of these changes and have a voice in defining this New World.