An industry survey carried out by hardware distributor Window Ware has revealed that almost three quarters of businesses grew in the last 18 months.
Of that 73%, more than half (54%) grew between 1-24% and over a third (38%) grew between 26-50%.
The investigation, put together by Window Ware in conjunction with data supplier Insight Data, invited fabricators and installers to share their thoughts on how their business has fared over the last 18 months and speculate about what the future holds.
Unsurprisingly, many businesses (41%) agreed that rising prices was the biggest challenge they faced in the last year and almost half (44%) predicted price increases will be the biggest issue for them in 2023.
And when asked what key change they would have to make to their business to ensure success over the next six months, almost a third (31%) also said price increases.
Sam Nuckey, Managing Director of the award-winning Bedford-based hardware provider, Window Ware, commented: “We know the industry has been buoyant over the last 18 months, and this survey reinforces that, and it’s great to see a substantial number of companies have grown.”
“It’s no surprise to see that rising costs has been a huge concern for the industry over the last 18 months and this concern is definitely ongoing following the significant increases passed onto homeowners recently compared the projected austerity in future years.”
“Given today’s soaring energy and raw material costs, there really is no getting around the fact that the cost of producing goods today is going up and up. These challenging global economic factors are outside our control, so we must endeavour to navigate our businesses through them now as we have before. The balance between margin management and volume retention is always going to be a challenge for the end-to-end fenestration supply chain but it isn’t something we haven’t successfully faced before.”
“For our part, we will keep doing everything in our power to deliver the high availability, responsiveness and dependable OTIF our customers have come to expect from Window Ware, calling upon our strong inventory, skilled operational teams, and +35 years of supply chain expertise to provide the best service possible.”
The research also uncovered what products are becoming more popular now, compared to before the pandemic.
One in five businesses (18%) revealed windows were sold more often than other products – something Window Ware, as one of the biggest suppliers of window components, has seen with increased demand for its window hardware.
“While it’s hard to predict exactly what the future holds, surveys such as this help us gain valuable insight into the mood of the industry and the challenges businesses are facing, and this all goes into shaping and informing our decisions moving forward,” added Sam.
“It’s no surprise that aluminium, composite doors and bi-fold doors were identified as products in high demand by respondents. Window Ware has been watching this trend for some time and we’ve already strengthened our offering accordingly. In fact, we released a dedicated 132-page aluminium hardware e-brochure back in Autumn 2021, which is now available in hard copy, and packed with products that are perfectly suited to this growing market.”