Head of showrooms at Just Add Water Charlotte Schofield offers her advice on trading in an unpredictable market 

How do I see the Market in 2025?’ Tough, the same answer I have had when forecasting for ’22, ’23 and ’24.

2024 saw the market fluctuate across all quarters, however we were fortunate to work on some incredible projects and we will continue to appreciate and build on the relationships new and existing in both the retail and trade sector.

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Q2 will be one of the biggest challenges from a business owners’ perspective, with the employers National Insurance Contributions (NIC) cap reducing, and the percentage of NIC employer pay increasing.

The increase in minimum wage, interest rates on borrowing, mortgages being held, will be factors in causing a delay in pre-planned renovations and buying homes.

All will result in a decrease in spending power. The knowledge we have of further inflation will inevitably mean a drop in disposable household income.

What does this mean for us? We must keep pushing forward, excel in our customer service,  promote products which return cost-saving solutions and most importantly, achieve the required price points – that will be key to surviving.

Here are my tips for retailers trading in an unpredictable market:

1. Expand your offerings

In tough market times, broadening your product range to suit all price points as well as premium products, this can attract a wider customer base. It lets your customers know you can adapt to a budget that suits them.

2. Focus on Customer Experience

Customer service is key – ‘people buy from people’ Create an experience that builds trust and loyalty to your brand – word of mouth is a powerful tool.

3. Social media platforms

The use of social media platforms has become one of the fastest and most productive ways to engage with the market.

A place to share inspiration and customer testimonials – social media is one of the best tools for engaging and letting consumers know what you are doing and what you have to offer

4. Supply Chain

Work with the suppliers who support you and your business – this will ensure you have the very best offering to your consumers.

Never forget the importance of communication –  keep stable communication across your teams, in your network – in your supply chain and with customers is the key to success.

Read our exclusive interview with Charlotte Schofield of Just Add Water on how refurbishing its head office showroom has elevated the retail brand.