The latest Business Pilot barometer confirms what many people in the industry will have already concluded about the previous 12 months, and that is that 2024 will be a year to forget.
It wasn’t disastrous, in fact some of the fabricators that I spoke to at various points throughout the year said it was the inconsistency in sales that was the problem, rather than any sudden or significant drop-off in turnover.
That was evidenced in good patches of activity, followed by periods of drought, but looking at the average over the long term, things ‘weren’t too bad, although they could be better’. It was the uncertainty that seemed to be keeping people on edge.
With that said, there’s no way to sugar coat the market conditions. We saw the closure of Dempsey Dyer in November, a firm that had been in business for 40 years, plus the ‘significant financial restructuring’ of Customade Group late in December, which included the loss of the Virtuoso name.
And if the rumours are to be believed, we may see more high-profile names struggling in the coming months as well.
Business Pilot’s latest data shows a typical seasonal dip in sales over the Christmas period, but also a ‘concerning’ drop in leads, year on year, of 42%.
But what about some positive news I hear you say! Well, the Barometer also suggests the possibility of a reduction in in interest rates, and a mortgage price war that could boost the housing market and – potentially – provide a shot in the arm for home improvements.
There has also been some positive forecasts for 2025 in other industry reports, including Keystone Market Research which has highlighted that consumers are looking to spend more on home improvements this year.
Again, the key to being able to capitalise on any opportunities in the year ahead, will increasingly rely on making the most of the vast range of tools and services available to installers and fabricators, from lead generation and marketing, to software and business managements systems – including Artificial Intelligence – that are designed to introduce efficiencies and gain a competitive advantage.
Welcome to 2025
The latest Business Pilot barometer confirms what many people in the industry will have already concluded about the previous 12 months, and that is that 2024 will be a year to forget.
It wasn’t disastrous, in fact some of the fabricators that I spoke to at various points throughout the year said it was the inconsistency in sales that was the problem, rather than any sudden or significant drop-off in turnover.
That was evidenced in good patches of activity, followed by periods of drought, but looking at the average over the long term, things ‘weren’t too bad, although they could be better’. It was the uncertainty that seemed to be keeping people on edge.
With that said, there’s no way to sugar coat the market conditions. We saw the closure of Dempsey Dyer in November, a firm that had been in business for 40 years, plus the ‘significant financial restructuring’ of Customade Group late in December, which included the loss of the Virtuoso name.
And if the rumours are to be believed, we may see more high-profile names struggling in the coming months as well.
Business Pilot’s latest data shows a typical seasonal dip in sales over the Christmas period, but also a ‘concerning’ drop in leads, year on year, of 42%.
But what about some positive news I hear you say! Well, the Barometer also suggests the possibility of a reduction in in interest rates, and a mortgage price war that could boost the housing market and – potentially – provide a shot in the arm for home improvements.
There has also been some positive forecasts for 2025 in other industry reports, including Keystone Market Research which has highlighted that consumers are looking to spend more on home improvements this year.
Again, the key to being able to capitalise on any opportunities in the year ahead, will increasingly rely on making the most of the vast range of tools and services available to installers and fabricators, from lead generation and marketing, to software and business managements systems – including Artificial Intelligence – that are designed to introduce efficiencies and gain a competitive advantage.
Glass Times
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