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info@bmf.org.uk www.bmf.org.uk
BMF partners with Trustpilot to promote customer engagement
The BMF has announced its partnership with Trustpilot, the leading global review platform, as part of its mission to help members build excellence within their business. With more than 71 million reviews of over 320,000 domains, Trustpilot gives customers a place to discover others’ opinions, validate their decision to use any business and share their own experiences. It also gives companies the tools to listen, respond and use review insights to improve service.
Trustpilot will join the BMF as a service member on 1 January 2020 and the BMF has negotiated at 10% discount for BMF members signing up for Trustpilot’s Lite, Pro or Enterprise plans after that date. To help companies get started with collecting reviews from their customers, Trustpilot also offers a free account with limited access to its full range of tools. Commenting on the partnership, Neil Bayton, head of partnerships – UK at Trustpilot said: “We are already working with a number of BMF members who recognise the value
of listening and engaging with their customers in a way that is helping them build greater trust. We are looking forward to developing our relationship with the BMF and helping even more merchants, both to track and analyse customer satisfaction and to showcase and grow their business.”
BMF CEO, John Newcomb added: “This is an exciting partnership promoting customer engagement. Trustpilot provides an independent platform on which to assess and showcase customer service, which fits well with the BMF’s strategy to help members build excellence in every aspect of their business. In particular, merchants can gain insights about their customers’ experience and identify trends and patterns in feedback. Should they identify a particular issue, the BMF is always able to provide assistance with training solutions to help develop a more customer centric approach.”
BMF forecasts short term slowdown in sales growth
For the second quarter in suc- cession, revisions to the Builders Merchants Industry Forecast of merchant sales show a drop in expected growth for 2019 over 2018. The slowdown in growth is now expected to continue into Q1 2020.
Published by the BMF, values
are forecast based on previous trends found within the Builders Merchants Building Index* (BMBI) data. As the forecast is unable to account for external factors, such as the uncertainty caused by con- tinuing Brexit delays and weather events that hinder construction activity, the BMF expects perfor- mance to go against previous industry trends and for growth to be lower in both Q4 2019 and Q1 2020.
Despite two successive quarters of negative growth in Q2 and Q3, 2019 overall is forecast to see a marginal increase with average year on year sales growth of 1.9% (revised down from the previous forecast of 3.0%). Year on year sales growth for
Q1 2020 has also been revised down to 5.7% (from the previous forecast of 6.5%). However, look- ing further forward, the forecast for overall average year on year growth in 2020 has improved to 4.6% (up from 4.3%). The Builders Merchants Indus- try Forecast is a comprehensive analysis of merchant market performance* from July 2014 to September 2019 coupled with an analysis of the key factors affect- ing builders’ merchants’ sales to project future sales from October 2019 to December 2021. A PDF edition of the 36pp
Q3 Forecast (Winter 2019) can be purchased for £195 + VAT. Contact Nyssa Patel, BMF Industry Analyst/Economist on 02476 854994 or email
nyssa.patel@bmf.
org.uk
*The BMF’s econometric
forecast model uses sales data from the BMBI as the main sales variable. BMBI data is collated monthly from 80% of generalist builders merchants sales through- out Great Britain and analysed by
January 2020
www.buildersmerchantsjournal.net
research company, GfK. It is the most accurate sales date within the construction industry. The forecast model also uses five other variables that indicated the highest level of correlation with builders merchants sales, namely: Repair, Maintenance and Improve- ment, Weekly Household Income, Season, All New Work, and Num- ber of trading days (per month).
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The BMF welcome the following new members:
Merchant
Service
Supplier
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