Good news for the KBB sector with 2016 set to be a record year in terms of kitchen sales and installations, driven mainly by the refurbishment market, according to the 2016 Overview Report by JKMR, with numbers already having exceeded 1.1million last year for installations last year.
The report expects Kitchen sales to grow, anticipating the market to reach £3.7bn in value this year, having already grown by 8% last year to reach £3.5bn. However, JKMR notes that “external factors” will have some impact on growth rates, but the market still looks positive despite slowing growth.
The owner-occupier refurbishment market is still the dominant sales driver in the industry, the report found, with the sector commanding a 57% share of installations by client type in 2015, rising by 7.5%.
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The report also found that the number of kitchen retailers in the UK increased slightly last year thanks to “new store openings by Howden and Benchmarx off-setting B&Q and Homebase closures”. However, independents still command the largest market share, accounting for more than 40% of total market value. But despite a slight increase in 2015, store numbers are expected to drop in the next few years, JKMR said.
“JKMR analysis shows the market in 2015 saw owner-occupier refurb sales continue to grow, while sales to new build showed notable improvement, driving through growth for companies supplying the direct contract and trade sectors,” the report said. “All product sectors saw growth of at least 6.5%; but the sink/tap sector did particularly well, with sector growth in excess of 10%.”
Photo: Stock Photo: Woman picking oven for domestic kitchen in studio or furniture store
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