CARPET, RUGS & ACCESSORIES Reasons for Re
Rupert Anton, of the Carpet Foundation, reflects on COVID-19’s impact on the carpe the change in working practices led to a signific
As I type this, we are poised to begin the third official lockdown in the UK. Infections are at an all-time high and the virus is out of control. However, there is light at the end of the tunnel, not only in the shape of the two vaccines now available, but also for the flooring industry. This is because, while 2020 was an ‘annus horribilis’, it was the year of the home. Spending more time at home inspired consumers to spruce up and refresh their interiors. Our homes really did become our sanctuary. And, as a direct result, many flooring retailers reported record levels of business.
One such retailer was T Nutt & Sons Ltd in Derbyshire whose director, Keven Nutt, said: “With the first lockdown, people couldn’t go on holiday, so they had surplus money. When the first wave of restrictions was eased in the summer, and the business could fully trade again, it was incredibly busy and sales were the briskest we have seen in 26 years. We also had 30% more custom approaching Christmas compared to previous years.”
But will it continue and why did business take off?
Reasons to be Optimistic The housing market continues to flourish with prices
10 | Tomorrow’s Retail Floors
growing at the fastest rate since 2004, on the back of a property buying spree. House prices grew 7.6% in the year to November, as post-lockdown demand for bigger homes continued to fuel a frothy housing market. Values have grown 6.5% in the five months since June.
There is also, according to the Bank of England, a lot of unspent cash in our pocket (estimates range from £100 - £200 billion) and the savings ratio now stands at 30% (up from 10%).
It is highly unlikely we will travel abroad in the short-term, or, indeed, stay in hotels (much as we would like to).
The Personal Touch
Restrictions on the numbers of consumers in shops at any one time, plus the move to ‘by appointment only’, proved highly beneficial for independent retailers. It gave a wonderful opportunity for independents particularly to showcase their unique selling points of personal service, knowledge, etc. A survey by accountants Deloitte during lockdown showed that, while consumers unsurprisingly stayed ‘local’ during the period, shoppers also discovered
www.tomorrowsretailfloors.com
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