B&Q – Do It Yourself DIY
B&Q – Service Dominant Logic
I’m writing this article today after B&Q has reported a 50% rise in sales compared to this time last year and I felt that it makes an interesting read.
It’s interesting because with a recession you think that people stop spending money on goods such as building materials etc as less people move home and have that spare (discretionary income) to spend on ‘doing up the house’ or that New Expensive Kitchen. – However B&Q have shown that their business’s fighting the recession, but how?
Of course what I say on here are only guesses but I have a few ideas why B&Q has seen a rise in sales.
In a recession you find that people swap goods/services. They change from paying and using a qualified professional builder/plumber or even decorator to doing with themselves. For all you technophobes out there, this is known as service dominant logic where people try and create ‘use-value’ from products. I.e. Buying a tin of pain + putting in their effort in painting = consumer satisfaction.
So perhaps this explains it, people are saving money and doing things themselves?
- They may feel that with house prices low at the moment they need to do add value to their homes by decorating it.
- People may have lower income and put off moving to a new house to doing up their existing homes?
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