NEWS | Round-up
VIEWPOINT
Why a focus on sustainability is good
business for retailers Richard Hibbert, KBSA chair, outlines why now is the time for retailers to embrace sustainability
BUILDING A green business may not be at the top of every retailer’s agenda, but with climate change still very much in the news, it is no longer something that can be ignored. Consumers are taking sustainability and eco-credentials much more seriously, and retailers have a role to play in helping them create more sustainable homes. Not so long ago, sustainability was a hard sell for
retailers, but consumer attitudes are changing, largely driven by the manufacturers and their commitment to developing new products and the promotion of their sustainability agenda. When faced with two products, if the environmentally
It’s a win-win for retailers that commit to a sustainable philosophy in their showroom
friendly option can be demonstrated to offer better value for money, with extended warranties, and available parts for longer, then it is easier for the consumer to take the upgrade. We have more information now from manufacturers about their sustainability credentials, and are happy to share their stories, which we’ve found can help to boost sales. Take the Quooker tap for example: the brand promotes a strong message that it is a sustainable purchase. The company advertises and backs up the claim that with a Quooker tap in the kitchen, you save water and energy and with a Quooker CUBE, you help to reduce the use of
disposable plastic bottles. Kitchens and bathrooms are key when it comes to saving water in the home, as the Government recognised in its consultation report published in September last year. The report stated that climate change and population growth are increasing pressure on our water resources, with the latest regional water resource management plans stating we will need an additional 4,000 million litres of water a day by 2050. The Environment Agency’s review of England’s emerging regional water resource plans stated that over half of this will need to come from reducing demand for water. While the Government is proposing a mandatory water label, we already have a solution with the Unified Water Label – a well-established and credible voluntary labelling scheme. The UWL has the support of industry and retailers that wish to educate and influence the consumer on the importance of using water wisely. Success moving forward will depend on the supply
of products that harness new technology to make it easier for consumers to see the benefits of choosing a more sustainable product. There is a win-win in this for the retailer, as those that show commitment themselves to a sustainable philosophy in their showroom are also saving water, energy, money, and reducing their carbon footprint.
6
Housing transactions plummet by a quarter
THE LATEST housing market statistics show that the number of housing transactions fell by almost a quarter in November compared with 2022 – with the number of first-time buyers also at a 10-year low.
The latest figures from HMRC show that UK housing transactions fell by 22% in November 2023 to 87,640 compared with the same month in 2022. Experts cite an affordability crisis and sky-high mortgages as the main causes. The Yorkshire Building Society reported that the number of first-time buyers in the UK mortgage market plummeted by 21% to 290,000 in 2023 compared with 2022 – the lowest figure for a decade.
The Halifax House Price Index for November showed a rise of 0.5% to £283,615, but down 1% on 2022, and the bank has forecast a decline of 2% to 4% in prices by the end of 2024, driven by the collapse in demand for housing. Commenting on the figures, director of Halifax Mortgages, Kim Kinnaird said: “The resilience seen in house prices during 2023 continues to be underpinned by a wider shortage of properties available, rather than any significant strengthening of buyer demand. That said, recent figures for mortgage approvals suggest a slight uptick in activity levels.
“However, the economic conditions remain uncertain, making it hard to assess the extent to which market activity will be maintained. Other pressures – such as inflation, the broader cost of living, employment rates and affordability – mean we expect to see downward pressure on house prices into next year.” Although the Bank of England’s decision to hold interest rates at 5.25% has been welcomed by many experts, David Hannah, group chairman of Cornerstone Tax, believes that with the ONS reporting a fall in inflation to 4%, the Bank of England should look to cut base rates.
Hannah said: “November inflation figures
and mortgage approvals should indicate an overall cooling off of the UK economy which, if we are to avoid a recession next year, must be acknowledged by the BoE and, in an effort to avoid a sudden crash of inflation, will increase pressure to start reducing interest rates sooner rather than later.
“I’d urge the MPC to seriously consider cutting the interest rate in their next meeting. Even a reduction by a quarter percentage point would signal optimism within the UK economy – with a target base rate of 3% to 3.5% being the overall goal if the BoE want to truly prioritise prospective buyers in the new year.”
Uform hits a major milestone as it clocks up 30 years trading
DOORS AND accessories specialist Uform recently celebrated 30 years in business.
The Northern Ireland-based company celebrated the anniversary in style at a special dinner held at the Dunadry Hotel and Gardens along with its employees and those from sister company Andoras.
The family-founded company was set
up in 1993 by brothers Eamon and Paul Donnelly, along with their late father Eddie. Commenting on the
30-year milestone,
co-founder and non-executive director Eamon Donnelly said: “When Uform was established three decades ago as Oakwood Door Designs, we had a clear vision on where we wanted to take the business and were confident that we
could lead the industry in terms of product design and service. With passion, determination, a skilled team and a thorough understanding of customer needs, we have grown significantly, and are immensely proud of our achievements.” Group chief executive Simon Oliphant (pictured), said: “To reach 30 years in business is a significant milestone and we’re very focused on what the next chapter looks like. Under the direction of our senior leadership team, and with the support of our investors, I’m in no doubt that The Uform Group has a prosperous future ahead. He added: “We have an ambitious growth plan for the next chapter, which will pave the way for an even more promising future.”
• February 2024
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84
