Reframing ‘uncertainty’ as opportunity

While businesses could breathe a small sigh of relief the UK had narrowly missed a recession, as reported in the Spring Statement 2023, it still signals tough economic times. There has also been added uncertainty as the Government announced the economy flatlined in February. But retail sales have grown. According to the latest Retail Sales Monitor, from the British Retail Consortium, total UK sales increased by 5.1% in March, against an increase of 3.1% in March 2022. This is above the three-month average growth of 4.8% and the 12-month average growth of 2.6%.

There has been optimism in the bathroom market at the recent European bathroom exhibition ISH. Brand manager at House of Rohl Emma Joyce stated: “There was real confidence in the strength of the luxury bathroom market.” While the premium kitchen sector, too, has shown signs of confidence, with new players such as Asko entering the market and Warendorf rescued from insolvency by the Hulsta Group.

Equally, there has been signs of strength in the DIY sector, with home improvement retailer Wickes recently reporting record revenues, with “strong” Do It for Me sales. It stated delivered sales were ahead year-on-year, due to an elevated order book, and ordered sales were in line with 2022.

So there is business to be done. Of course, it could mean the market is polarising, creating

Philippa Turrell

more uncertainty for the KBB retail industry rooted in the midmarket. But perhaps that could be reframed as opportunity? Retailer Wren Kitchens has looked to boost its business by entering new markets with fitted bedrooms and perhaps there is an opening for independent bathroom retailers to explore kitchens and vice versa or even extend beyond the boundaries of these two rooms? Ripples Saffron Walden has extended retail sales into the contract market for newbuild homes.

While KBB retailers will remain watchful in the current economic climate – and understandably so - we must all remember there are so few certainties in business. In fact, would entrepreneurs, such an independent KBB retailers, find it so fulfilling if there was no challenge? Where would be the thrill in winning business and the ambition to deliver outstanding service? Would there even be a need to go the extra mile if there was a certain outcome? These are all qualities that the independent sector excel in. Of course, we would all be happier with a break from issues impacting KBB retail, but then where would be the reward?

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Editor Philippa Turrell e: pturrell@hamerville.co.uk

Designer Donna Booth

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KBN LIKES ✔ KBN DISLIKES ✖

...KBB businesses are performing well, such as Omega, which recently reported a record turnover in excess of £60million.

...Premium appliance manufacturer Warendorf fell into administration but pleased it has been rescued by the Hülsta Group, saving 80 jobs and the brand.

KBN WANTS !

...KBB retailers to attend the Kbsa Kitchen & Bathroom Conference to see Professor Charles Spence, author of Sensehacking: How to use the power of your senses for happier, healthier living. He will talk about how to transform showrooms into multi-sensory experiences.

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ABC total average net circulation 13,505 (for the 11 issues distributed between January to December 2022)