Finance approvals in the Glass and Glazing sector for May/June 2015 were up approximately 32% on the same 60 day period in 2014 (from £23m to £30.5m). The figures add to the optimistic findings in the recent Insight Data Report which found the total turnover of the UK’s Top 30 fabricators rose by 6% rise in 2014.
Despite a slight contraction in the market last year and a slow start to 2015, both our national and regional installers are reporting sales have been more buoyant since the second quarter of the year and many are expecting this trend to continue.
Andy Wallace, Managing Partner at CCS, said, “It’s clear from talking to our partner installers that consumer confidence is definitely increasing, with homeowners willing to commit to ‘big ticket’ purchases and home improvements. Offering quality products and excellent service combined with attractive finance products can make all the difference in a highly competitive market like glass and glazing.”
A number of factors are contributing to growth at the moment, including: low inflation, increased disposable income, improved consumer confidence, and house price inflation. Many retailers are reporting that they’ve seen more interest from customers wanting to purchase a new conservatory.
Andy Wallace added, “It’s clear that sales are also being fuelled by the availability of very competitive finance options. CCS has seen a positive trend in glass and glazing installers rejecting old-school high interest credit products in favour of customer-friendly promotional finance that include loan instalment deferral periods coupled with low rates from 4.9% APR, and interest free credit.”