Sales director of MHK UK David Morris reviews 2024 and encourages retailers to unite to share challenges and successes.

What we have seen in 2024 is that the lower end of the market has suffered the most, whereas the middle to lower end of the market has remained stable.

Our retail partners have seen the volume of the furniture they sell increase by 20-25% this year, either through bigger projects or by expanding outside of the kitchen into different parts of the home such as studies, dressing rooms and home cinemas.

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In 2024, we started to see an interesting new development in which successful installation businesses began to diversify into the retail sector.

This is not without its challenges, but with the right product offering and business advice, this is a huge opportunity for those looking for succession of their install business.

Challenges and opportunities

We know the market has been harder. Consumers have lots of choice so it’s about making them want to buy from you and helping retailers think about how they present themselves.

The independent sector is generally more agile and able to adapt to market challenges.

However, the marketing cost per sale is now hugely expensive.

My advice? Do a fantastic job for a customer and get every recommendation you can through word of mouth.

Don’t just see the opportunity as the kitchen. The average house has five rooms.

At Kuechenmeile this year, every single manufacturer showcased media centres, home offices, dressing rooms and bedrooms to demonstrate the opportunities for furniture beyond the kitchen.

Closing the deal

There is not a one size fits all answer to attracting customers and closing the deal. And it can depend on where a retailer sits in the marketplace.

However, working on presentation skills and spending time listening to the consumer about their wants, needs and budgeting expectations will never go out of fashion.

Where practical, go the extra mile and include their additional renovation dreams (that they might not have communicated they have budget for) in your designs to wow them and potentially unlock future custom when they revisit these spaces. Give them no option but to buy from you.

Join together

It can be quite a lonely place being a retailer and it’s good to talk to someone who is not trying to tell you their product is the best thing since sliced bread.

No one is alone in this industry, and we all have a vested interest in the kbb sector’s overall success.

So get yourself involved with a network of other retailers. We are all stronger together.

By virtue of being a buying group, at MHK we have always advocated the power of collective strength and how we are stronger together.

But this goes beyond purchasing power and today we are proud to have fostered a community of likeminded entrepreneurs who can sound board each other.