BHG is catching up on Kesko DIY

As reported in yesterday’s post, the two big Nordic DIY retailers, BHG and Kesko, have seen their B2C revenues plateau or decline. When one compares the two companies, especially among different countries, it becomes evident that BHG is gaining hard on Kesko.

Kesko has said it has the ambition to strengthen its share as a leading European DIY retailer. The rapid growth of the DIY business has certainly enabled that.

At the same a pure play challenger, BHG has grown fast. First, the company grew in the Nordics and lately has moved into other European countries. In Q3/2022, non-Nordic European countries already represented 15% of revenue. The of Germany is up from 12% a year ago.

With the rapid growth, BHG has been catching up on Kesko’s consumer-facing DIY business. In Q3/2019, BHG’s sales were 34% of Kesko B2C DIY sales, whereas in Q3/2022 BHG was already 50%.

In its home market, Sweden, BHG surpassed Kesko during the pandemic.