talkingtrade
Monday February 5 2018 THE NATIONAL MOTORCYCLE MUSEUM, BIRMINGHAM
WILL JONESHousewares Sector Director of the British Home Enhancement Trade Association (BHETA) Broaden your sales horizons Our columnist believes there cannot be a better time to look beyond your usual routes to market R
etail sales are down and we are told it’s the worst consistent decline in the figures since 2013. Yet again,
there are almost as many suggested reasons for the situation as there are pundits to propose them. Is it because Easter was late? Is it because
consumer confidence is sliding? Is it the effect of price increases throughout the supply chain? Or, is it the upcoming General Election? Who, frankly, can be sure? Speculation is rife and facts, as we know, are in short supply. So here is a fact. There cannot be a better
time to look out beyond your usual routes to market to see if there are other sectors and other markets that might present incremental sales opportunities. Are you maximising relationships with the
online retail giants? Is there more you could be doing via the wholesale route into the independent market? Are you investigating export? Could your range be relevant – or easily
adapted to be relevant – to other types of retail such as giftware, or stationery, or garden? Is there a commercial application for your
products in the hotel and catering market? BHETA (British Home Enhancement Trade
Association) has market statistics for members to tap into as part of researching the opportunities further. We also have a database of information, and
can provide sales training if a change of style is required to access the different sectors effectively. We are also in touch with equivalent
associations in these new sectors, and so can make introductions. It must be worth exploring the opportunities.
Consumer Price Index March 2017 The Consumer Price Index including owner occupiers’ housing costs (CPIH, not a national statistic) 12- month inflation rate was 2.3% in March, unchanged from February. Rising prices for food, alcohol and tobacco, clothing and footwear, and miscellaneous goods and services, were the main upward contributors to change in the rate. These were largely offset by a downward contribution from transport, particularly air fares and, to a lesser extent, motor fuels. The Consumer Price Index (CPI) 12-month rate was also 2.3% in March, unchanged from February.
Retail Sales March 2017 The 3 months to March shows a decrease of 1.4%; the third consecutive decrease for the underlying 3 month on 3 month pattern. Looking at the quarterly movement, the 3 months to March (Quarter 1) is the first quarterly decline since 2013 (Quarter 4). In March 2017, the quantity bought in the retail industry is estimated to have increased by 1.7% compared with March 2016, and decreased by 1.8% compared with February 2017. Decreases are seen across the four main store types. Average store prices (including fuel) increased by
3.3% on the year - the largest growth since March 2012. The largest contribution came from petrol stations, where year-on-year average prices rose by 16.4%. Online sales (excluding automotive fuel) increased year-on-year by 19.5% and by 0.5% on the month, accounting for approximately 15.5% of all retail spending.
Mortgage Approvals March 2017 The Council of Mortgage Lenders estimates that gross mortgage lending reached £21.4 billion in
March. This is 19% higher than February’s lending total of £17.9 billion, and 19% lower than the £26.3 billion lent in March last year. The sharp fall in year- on-year lending was expected, as March last year saw significant rises in activity as borrowers rushed to beat the second property stamp duty deadline that came into effect from the beginning of April. Gross mortgage lending for the first quarter of
2017 was therefore an estimated £59.1 billion. This is a 4% decrease on the fourth quarter of last year and a 6% decrease on the £63 billion lent in the first quarter of 2016.
House Price Index February 2017: Monthly house price inflation
Average house prices in the UK have increased by 5.8% in the year to February 2017 (up from 5.3% in the year to January 2017). However, this still remains below the average annual house price growth seen in 2016 of 7.3%. The average UK house price was £218,000 in
February 2017. This is £12,000 higher than in February 2016 and £2,000 higher than last month.
Labour Market Three months to February 2017 Estimates from the Labour Force Survey show that, between September to November 2016 and the three months to February 2017, the number of people in work increased, the number of unemployed people fell, and the number of people aged from 16 to 64 not working and not seeking or available to work (economically inactive) also fell. There were 31.84 million people in work, 39,000 more than for September to November 2016 and 312,000 more than for a year earlier. The employment rate (the proportion of people
aged from 16 to 64 who were in work) was 74.6%: the joint highest since comparable records began in 1971.
Construction Output February 2017 Output in the construction industry grew for the fourth consecutive period on a 3 month on 3 month basis, increasing by 1.5%. Despite growing 3 month on 3 month, output fell by 1.7% in February in comparison to January. On the back of strong growth in January, infrastructure provided one of the main downward pressures on output in February, decreasing by 7.3%. New housing also contributed to the monthly decrease in overall output, falling month-on-month by 2.6% in February. Repair and maintenance grew in February, increasing month-on- month by 1.2%; month on year by 0.8%; and 3 month on 3 month by 0.6%.
Commodity Prices March 2017 All commodity price indexes fell in March, reversing February's gains. Energy and raw materials registered the biggest declines, falling 5.9% and 2.9% respectively. Food and agriculture commodities were down 2.5% and 2.3%. Metals and precious metals dropped 0.6%.
Foreign Exchange Analysis Reuters - April 24 2017 Sterling fell sharply against the Euro on April 24, as investors favoured Europe's currency over Britain's in a wave of relief sweeping financial markets, following results of the first round of France's presidential election. The pound rallied nearly 2% in the last week of April, hitting four-month highs against the Euro, after British Prime Minister Theresa May called for a UK general election in June.
1 GBP = 1.180 EUR 1 GBP = 1.280 USD
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May 2017
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