B&Q £100m investment in new pricing strategy

B&Q

UK home improvement retailer B&Q has said(via its owners Kingfisher) that it is investing more than £100m to deliver its ‘Do It For Less’ pricing strategy, specifically designed to “make home improvement more affordable for all customers”.

The Uk wide DIY chain has said that more than 2,000 of its home improvement products have been given new, lower prices as part of its new pricing strategy and corresponding marketing campaign. B&Q added that it is “simplifying” it prices to “ensure they are clear, transparent and trusted. This means reducing the use of short-term pricing deals and discounts, including multi-buys and reviewing loyalty scheme benefits, to enable investment in stable, low prices for the benefit of all customers,”.

B&Q added that its ‘Do It For Less’ price drops will be promoted on television as well as in the press, through in-store marketing and on social media. “Our mission is to help people create good homes,” said B&Q commercial director Paul White.

“To do that we need to make home improvement projects affordable all year round, and our 2,000 price drops and stable low prices across all of our ranges help do just that,” he added.

The price drops include the following products with more reductions set to come later in the year:

  • Bosch PSB 1800 LI-2 Combi Drill with 2×2.0 Ah batteries, now 8% cheaper
  • Cimenti wall and floor tiles (20 pack, 30×30), now 17% cheaper
  • Flymo 1300w Hovervac 280 mower, now 17% cheaper
  • Dolce High Gloss Laminate Flooring, now 12% cheaper
  • Arlington wall and floor tile (6 pack), now 13% cheaper
  • Karcher K5 Premium Full control plus, now 11% cheaper
  • Cuprinol Dustback Forest Green 5 L, now 29% cheaper
  • Verve Hosecart starter set 25m, now 22% cheaper
  • After cut all in one spreader, now 17% cheaper
  • Dulux Weathershield Concrete Grey Smooth Masonry Paint 5L, now 5% cheaper
  • Brindisie White Satin Ceramic Wall Tile (12 pack), now 25% cheaper
  • Mapi flexible wall and floor grey grout 2.5kg, now 26% cheaper
  • Mapi Fast Set Tile Adhesive 20kg, now 25% cheaper
  • Bosch PMF 220CE Multitool, now 23% cheaper
  • Ron Deck Oil Ultimate, Natural 5L, now 8% cheaper
  • Cuprinol garden shades, matt wood, urban slate, now 32% cheaper
  • B&Q 450W Hedge Trimmer, now 14% cheaper
  • Verve Organic Lawn Fertilizer 200m2, now 14% cheaper

“We moved to everyday low prices in our kitchen range nearly four years ago and with our investment of over £100 million in our ‘Do It For Less’ pricing strategy, we’re extending the clarity and transparency of that across many more of our products.”

In June, B&Q announced that it was restructuring its kitchen and bathroom service by “simplifying” the process as well as moving away from offering installation services to its customers, resulting in 700 jobs being at risk at the Kingfisher-owned DIY chain.

B&Q plc is a UK multinational DIY and home improvement retailing company, headquartered in Eastleigh, England, United Kingdom and is a wholly owned subsidiary of Kingfisher plc. Since 2015, B&Q has been closing a number of shops, in favour of converting some to outlets of Screwfix, another brand of Kingfisher plc.

In total FTSE 100 Index listed Kingfisher has over 1,176 stores, in eleven countries across Asia and Europe, and its brands include B&Q, Castorama, Brico Dépôt and Screwfix.