Words: Belinda Dangerfield

Here at Qudaus Living, these last few months I’ve observed a noticeable slowdown in kitchen showroom footfall and a more protracted decision-making process for renovation clients. 

I think there are several factors contributing to this. Economic uncertainties – including job security concerns due to corporate streamlining driven by rising operational costs – are making consumers hesitant about large expenditures.

As well as that, businesses are facing tighter margins and escalating labour costs, particularly for installations, making overall renovations more expensive and prompting more considered purchasing decisions.

I’ve carefully considered how recent regulatory changes – pensions, minimum wage, and NI – might affect our historic clientele: business owners, mid-to-upper management, and “the grey pound”.

Feeling the pinch of increased National Living Wage and employer NI contributions, business owners & mid-to-upper management are acutely aware of rising operational costs and potential streamlining within their own sectors. This could lead to more cautious discretionary spending on renovations due to reduced confidence.

For older retirees, their pension income faces a nuanced impact. While the state pension increase offers a boost, rising living costs driven partly by increased business expenses could offset this.

Broader economic instability might also make them more cautious about drawing down private pension funds. Long-term inheritance tax considerations might however encourage some retirees to spend now rather than potentially lose it later.

Disposable income

The fluctuations in consumer disposable income and confidence are undeniable. Kitchen renovations are discretionary; economic unease often postpones them.

It’s time to hunker down and adapt. I anticipate a continued slowdown in footfall and longer sales conversion times. This will be driven by increased price sensitivity among customers, a potential shift towards essential home improvements rather than complete overhauls and extended decision-making processes as buyers grapple with economic anxieties. 

Faced with this, Qudaus Living is proactively adapting. Our strength as a nimble independent retailer lies in our customer focus and agility. 

A key initiative is introducing more budget-friendly kitchen ranges, carefully sourced to offer excellent quality and stylish design at accessible price points, catering to a wider range of budgets while maintaining our quality commitment. 

Reflecting on the Homebuilding & Renovating Show in March, while footfall returned to pre-covid levels, serious kitchen leads were lower, mirroring market uncertainty. 

Despite these challenges, our focus remains clear: providing exceptional value, nurturing strong customer relationships, and offering creative solutions aligning with their needs and budgets. 

By adapting our offerings and fostering collaborative partnerships, Qudaus Living is committed to navigating these shifting tides and continuing to provide beautiful and functional kitchens to an ever-shifting market.