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kbbreview Retailer Survey 2020 | RETAIL


I


ndependent retailers like you are at the heart of the kitchen and bathroom sector but the nature of independence means that you often do not have a collective voice or measurement of your views and opinions. That’s why, back at the tail end of 2017, kbbreview conducted a comprehensive survey of just that to mark the build-up to the industry’s biggest talking shop – the kbb 2018 show. It threw up such interesting results that we’ve done it again as we approach kbb 2020, the UK sector’s biggest gathering of people, products, opinions and ideas. What’s changed? What’s stayed the same? And what effect has the disruptive and drawn out Brexit process had?


Are your average values up, down or the same? How confi dent do you feel in the health of your business and what is your perception of how it will fare in the future?


How do you feel about your suppliers? And what do you see as the biggest challenges facing your business?


This is a fascinating snapshot of a representative 300 retailers from across the UK – but what do you think? Let us know: rebecca@kbbreview.com


Who are you and what do you sell?


The majority of retailers surveyed sold both kitchens and bathrooms, but unsurprisingly in different amounts. The number that sold equal amounts of both remained static compared with


41%


Retailers working in the sector for more than 25 years


How much do you sell it for?


This survey gives us a really good indication of where the mid-market lies. In kitchens, the average order value was £20,000 to £30,000 for 35% of all our retailers that sell kitchens. Narrowly behind was the £10,000 to £20,000 bracket with 32%. Nearly a quarter of retailers said their average kitchen sale was over £30,000. Ten per cent of average kitchen values were under £10,000 meaning 42% of kitchens are being sold for under £20,000. For bathrooms, 40% of retailers said their average sale was between £10,000 and £20,000 and 28% put their average sale at £10,000 to £15,000. Around 15% clocked in at under £5,000, add all that up and it means 83% of bathrooms are being sold for under £15,000. To put it all into context, we asked how those average order values compared with 12 months ago. Overall, 32% said it was about the same, but 60% said it had gone up


January 2020 · kbbreview


or gone signifi cantly up. Given that these results are pretty much exactly the same as two years ago, it perhaps indicates more of a feeling of confi dence and positivity rather than an actual increase in average values. Those who sold only or mostly bathrooms were the most confi dent that order value had gone up with 84%. For kitchens it was 56%. For those that sold an equal amount of both it was 62%.


Overall, just 8% of retailers said their average order values had gone down. ANALYSIS: Average order values have stayed pretty static but the perception that business is doing well is a theme throughout this survey – remarkable given the economic uncertainty that plagues us. It shows that good independent retailers with solid businesses can weather storms better than most.


„ 60%


Retailers who said average


order value has gone up


53


the last survey in 2017 at 17%. In total, 59% of retailers said that kitchens were the dominant or whole of their business. For bathrooms, the equivalent was 23%. There was also a big difference in the number of retailers that only sold one or the other – kitchens only was 35% and bathrooms only was 14%. The veterans are still there too, with 41% of our retailers claiming over 25 years in the industry and only 14% clocking up less than 10 years. That has changed very little in the past two years.


It remains an industry of single-showroom operators too with three-quarters of our retailers running just one location. Nearly a fi fth run two. ANALYSIS: Very little has changed in the demographic of retailers, but is it time to discuss the lack of new blood coming into the independent retail sector? When all those veterans hit retirement, will there be enough new people to take over?


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