Industry report shows real signs of optimism amongst installers
Posted on 17/10/2013
A report released by the support body the Consumer Protection Association (CPA) has revealed an optimistic outlook amongst installers, regarding the glass and glazing industry and the economy generally.
The CPA commissioned Insight Data to carry out the extensive report, which asked over 12,000 installers a series of questions related to business performance and expectations for the years ahead.
The survey asked installers how they attract new customers and also asked how 2013 is comparing with 2012 within their business.
For this question, in relation to profit margins 36.7 per cent said profits had increased, with 24.5 per cent saying they had reduced.
A high number, 54.1 per cent, said that average order values were around the same amount so far this year, with 29.51 per cent saying they had increased.
Looking forward, 62.5 per cent of installers polled believe that sales will increase in 2014 compared to 5.36 per cent who feel they will decrease.
And 55.36 per cent of installers responded by saying that they believe their profits will increase, with 12.5 per cent saying that they will reduce.
Regarding the glass and glazing industry and economic climate in general 54.9 per cent of installers polled said that they believed growth would increase across the industry in 2014, compared to 9.8 per cent who said it would reduce. Furthermore, 56 per cent of respondents said that the state of the UK economy would improve, in contrast to 14 per cent who said they felt the economy would worsen.
In relation to UK debt levels, 54 per cent said they felt the level would stay the same, with 26 per cent saying that UK debt would increase.
Jeremy Brett, who is Director at the CPA comments: “Overall the figures are very positive and reflect a general feeling that the UK economy is turning a corner, and the glass and glazing industry as well.
“Our members often feedback to us that they’re getting tired of all the doom and gloom – it’s now about creating confidence, which I do believe is starting to happen.”
Jeremy went further by saying that it was great news that over sixty per cent of respondents believed that sales would increase in 2014, a figure which correlated with the performance of CPA’s members.
“Across the board the responses were positive, with the majority of companies expecting sales and profits to increase- over half also responded that growth is set to increase across the industry as well,” he comments.
When asked how they currently attract new customers, 93.2 per cent of installers said that that they did so through recommendation; with 88.37 per cent saying the majority of new business came from their website and 51.16 per cent said that advertising was a key way for them to attract new business.
“This barometer directly asked installers about their views on the economy and confidence within their business. The future is looking bright but it’s all about adding value – which is what we do for our members,” Jeremy concludes. Over the coming weeks and months the Consumer Protection Association will be publishing all of the results from their annual Installer Barometer.
