DIY sector in Norway grew in 2020 by almost 26 per cent

The coronavirus pandemic and the resulting shift in lifestyle has also led to people investing more in their apartments, houses and gardens in Norway too. This has been reported by Carl Otto Løvenskiold, owner of the family corporation Løvenskiold-Vækerø, to which the DIY store chain Maxbo also belongs. "I have never seen in my career any sales figures or growth that compare to this year," he said in an interview with John Herbert, general secretary of the international DIY association Edra/Ghin, on the Global DIY-Network. DIY sales have increased by almost 26 per cent nationwide, he reported.
Retail remained open, the 65 Maxbo stores were also able to be visited by consumers and professional customers without any restrictions. In addition, online sales rose strongly and have tripled within the past six months. They now make up almost 10 per cent of annual sales to the amount of around EUR 550 mio. The store portfolio of the chain, which was founded in 1995, includes locations with retail spaces of 600 m² to 20 000 m². Three new locations are expected to be added this year.
However the majority of businesses in the Greater Oslo area are currently closed. It is the first lockdown since March. The retail trade is only open for professional customers. However Løvenskiold is optimistic for 2021 too: "I believe that we will have a good year in this sector," he says.