The last few years have taught us that no one ever knows what’s around the corner. So what can retailers do to make the most of any opportunities 2025 might throw at them?
Words: Mark Butler from Butler Interiors.
The KBB industry has been riding a Covid wave, but let’s be honest, that is well over.
As the year draws to a close, we must look ahead and work out a plan to benefit from any opportunities that arise in 2025 and beyond.
Although our commercial work has generally been unaffected, our domestic leads have been slower, with fewer numbers than in previous years. It feels as though many of our domestic customers have taken a ‘wait and watch’ stance before making decisions following the change in government and everyone has been notably more careful with spending during an uncertain period.
Robust readiness
Now that the budget has been laid out finances should begin to stabilise, for better or worse, and I would personally like to think that the market will improve in 2025.
The new government announcing changes to reduce planning constraints and allow the building of more houses cannot be anything but good for our sector.
Whether it is the opportunity to develop closer relationships with developers, or the sales and growth of the new-build market resulting in older houses ready for refurbishment, we can all take the chance to create more business.
For an independent retailer, having a robust financial model must be of paramount importance as we move into 2025. It would be very easy to chase the newbuild market, but if this is a route an independent retailer goes down, they must not under sell themselves to turn a quick profit.
If the quality is to carry on into the newbuild sector and the customer service remains, the services offered need to be financially quoted accordingly. Don’t fall into the trap of underselling yourself just to turn a quick profit!
In a challenging market retailers must maintain their core values. Have a clear business plan and stick to it but be open to adapting it to meet any new business direction that may be available.
Maintain careful, tight, and robust finances and cash flow processes, and ensure you continue to build great relationships with your suppliers – they’re less likely to let you down when times are tough.
We are currently in the process of building a new showroom which will hopefully open in Autumn 2025. This project will bring together our two showrooms into one super studio, allowing us to have more displays and create more innovative ways to entice customers into our showroom.
We have invested in more designers and support staff, and I have invested in a business coach, for myself and my team, to keep us accountable and to learn how to grow the business for further success.
I’ve spent the last year working ‘on’ the business rather than ‘in’ it. As well as investing in a business coach, I’ve joined a local business networking group in order to connect with – and learn from – other local professionals. These experiences have been invaluable so far.
Always moving
My advice for success in 2025 is to maintain who you are as a retailer but accept there is a need to continue to adapt.
Use technology to push your business forward and allow it to help you work efficiently and effectively, but retain what customers want and technology can’t yet deliver – a personal, individual approach and exciting designs that not only fits the customer brief but incorporate the emotions of building their home
In a changing world, it’s no longer acceptable to stand still, regardless of how good your business is, improving the skill set of your team and helping them understand how to connect with customers will future proof your brand.
Remember, the kitchen industry is entirely driven by relationships and emotions. Master both and you’ll be sure to experience amazing growth in 2025.