I’ve tried my best to avoid the dreaded ‘B-word’ and I feel I’ve done such a good job of avoiding it, for the sake of this article; I will be referring to it as the ‘B-word’ and the ‘B-word’ only.
The reason I am bringing up the dreaded, ongoing, frustrating, flabbergasting, infuriating ‘B-word’ mess is because it features somewhat heavily in a list of concerns across two surveys that landed in my inbox recently. In a survey by OGL Computer of 255 Managers of wholesalers and distributors in the UK, the ‘B-word’ came out as the key factor affecting company profitability, with 47% of respondents citing it as a top three reason, followed by employee costs at 44% and inaccurate data at 38%. Comparatively, in the recent EDA survey which received 298 responses from 144 electrical contractors, 79 manufacturer representatives and 75 wholesale representatives, ‘political, economic market change’ featured as the answer for 15% of wholesalers and only 4% of contractors. It’s interesting to get the viewpoint of the contractor in the second set of results as it shows they are fairly upbeat about the current economic and political uncertainty, which manufacturers and wholesalers less so. Uncertainty is the key word, with many manufactures and wholesalers that I have spoken to telling me that they are ready to implement a plan and adapt as soon as the blasted thing is sorted either way – here, here!
The survey from OGL computer goes in to more depth about inaccurate data and how it has impacted traditional wholesale businesses that have yet made the switch to more modern systems. In some cases this has even resulted in the loss of earnings. The survey includes some other really interesting results that will make for good insight into the industry, be sure to take a look at pages 28-29.
The EDA yearbook that includes the annual survey is available for download at: www.eda.org.uk and again I would encourage you to have a look, as some of the findings will certainly be of interest.
This issue of PEW includes features on electrical accessories with a look at why sometimes the simple, less fashionable products are the easiest to sell. Whilst in the new business and opportunites feature we look at the rise of infrared heating, electric vehicle charging needs and multi-purpose lighting accessories – all of which you should be considering as business-boosting products for your store.
Finally I would like to wish all a merry Christmas and a happy new year as I sign off the final issue of 2019. Next year we increase our offering to a bumper eight issues per year – what more could you have asked for at Christmas?
Have a great remaining 2019 and enjoy the issue.