Will there be a drop-off or simply a slowdown in sales? Editor of Kitchens & Bathrooms News Philippa Turrell says focus on removing barriers of business
While kbb retailers may be questioning when the slowdown in sales will take place, with bookings months in advance, clouds could be gathering.
Soaring fuel bills, increases in National Insurance and inflation at its highest level in 30 years are set to create a perfect storm squeezing disposable household income.
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Together with the opening up of global travel, it may see consumers decide to invest in a well-deserved holiday rather than being motivated to spend on home improvements.
That’s the bad news. However it doesn’t mean it’s all doom and gloom for future kitchen and bathroom sales.
Industry experts suggest although there will be a slowdown in volume, 2022 will still be a good year for sales through independent retailers.
It simply means the industry may have to refocus its efforts on ease of doing business, breaking down barriers, to gain the attention of consumers and encouraging them to make long-term and life-enhancing home improvements.
As evidenced on LinkedIn, retailers have started to build their teams, reducing waiting times for design and (hopefully) installation, with a mix of experienced and even trainee professionals.
It’s a welcome move for the kbb industry, which must unite to fill the current skills gap and protect the kbb business for future generations.
But if the pandemic has taught kbb retailers anything, it has been a strong emphasis on cash flow from investment in stock, through to signing off projects.
And it will be interesting to see how many conversations at Kbb Birmingham will naturally steer towards stock availability and delivery, against the ongoing supply challenges, and be a factor in doing business.
Consumer finance may also become more important for retailers, meaning potential clients don’t have to choose between a holiday or plans for home refurbishments – they can have both.
While the external influences on business are all global, from fuel consumption and shipping chaos through to Brexit emphasising the lack of fitters and HGV drivers, finding business remains local.
By their very name national retailers can serve the wide-ranging desires of consumers across the country, but it is regional business which remains the heartland of independents businesses.
Devoted and attentive to wants and demands of consumers in the locality, kitchen and bathroom sales will stay safely in the hands of specialist retailers.