Shift in consumer buying behavior evident
The window market showed little movement in September, according to the latest Business Pilot Barometer report. Senior Analyst Neil Cooper-Smith noted that key performance metrics remained mostly static, with average leads holding steady at 107 and a slight dip in sales from 52.1 in August to 48.9 in September. Cooper-Smith attributed the modest decline to the shorter month, reassuring that it was not a sign of a significant downturn: “Given that September was a shorter month, I don’t see this as a foreboding sign.”
More notably, the average order value held steady at £3,593, reflecting an active volume sector in the market, with higher order values indicating increased sales of high-margin products. Despite the minor sales decline, the conversion rate rose slightly to 41.7% in September, up from 41.3% in August. This marked the second-highest conversion rate of the year, highlighting a shift in consumer behavior. Typically, increased activity in the volume sector brings a rise in window shoppers, which tends to lower conversion rates. However, Cooper-Smith explained that the steady conversion rates suggest consumers are more decisive, likely conducting thorough research before entering the market. Instead of seeking multiple quotes from various suppliers, homeowners seem to be making more informed decisions and engaging with fewer companies before purchasing. “If every homeowner gets three quotes and then commits to buying, the conversion rate would be 33.3%. What we’re seeing suggests they are seeking fewer quotes,” he explained. Cooper-Smith urged businesses to adapt to these behavioral changes by optimising their digital presence, ensuring they provide a consistent brand image across platforms like TrustPilot. He emphasised the importance of responding to more informed customer inquiries to maintain competitiveness. Looking ahead, Cooper-Smith pointed to broader market challenges, including rising house prices, soaring energy costs, and waning consumer confidence, particularly as the October Budget approaches. With nearly half of homeowners planning to reduce energy usage following the latest energy price cap increase, businesses must be prepared to navigate these shifts. “By having the tools to act on your metrics daily, you are much better positioned to react to changes – especially when those changes aren’t what you expected,” Cooper-Smith concluded.
