I mainly visit the DIY Summit to inform you about the trends and developments in the Global DIY market.
This is now my 4th year that I visit the Summit. A few observations from my side:
The event was organized in Dublin this year. The Convention Center Dublin location was very suitable especially considering the number of participants. This year there were around 900 people. 1,200 were reported last year in Barcelona. No idea if this is a trend or if it has to do with the location.
The stock market portion is getting bigger. The exhibitors give me different feedback, some are very satisfied, others have had nothing to do.
The level of speakers this year was, in my opinion, much better than last year. Fewer commercial pitches and more content. The variety was certainly interesting this time too.
Delloitte, Dr. Alexander Boersch sees an unclear future. At the same time, he does not want to issue a doom senario.
2018 shows a peak in GDP, he expects that this will soon flatten. However, sees no reason for recession.
The US continues to do exceptionally well. However, this will lead to large salary requirements, even the trade isues in the world give cause for concern.
PMI goes slowly below 50. Normally this indicates a recession ..
Obviously Brexit is a risk in the short term for the longer term, he sees this less problematic.
Demographics and Urbanization provide extra economic challenges.
China shows the lowest growth of the past 28 years, but is still significantly higher than the growth in Europe.
Also the presentation of ACE was more than worth it, a very good speech that has only one message: it is all about people!
He had some great quotes:
Business has a bad brand .. Integrity and sincerity is key for the leaders of the companies.
Be careful about ass kissers! They’re always the first to talk shit and start drama!
Another general take out for was that bad retail is dead! Customers’ needs are changing we have to “listen” to the customer, communicate with and about the customer. Fun store experience, DIFM!
I cannot understand that they will continue with the panel discussions. They have kept on curling around. No vision, blurry future images. Now the magic word was innovation. While in practice short-term goals and shareholder value do not allow this ..
Digital disruption, every company must become an IT company. This is the only chance of survival. You can imagine what the market will look like beyond. Old normal / new normal, from the masses to the individual are concepts and questions that make clear where you are as an organization.