When measuring the success of your window and door business, it is often useful to assess how your performance compares to the industry average.
With several window and door companies using integrate, ranging from small family businesses to larger national companies, we can get a good feel for what is happening within the window and door industry.
This month we have compared Q1 of 2023 with Q1 of 2022. Looking at three-month periods reduces the risk of seasonal changes or some months having more days than others. When comparing these two quarters, we found some very interesting information about the change in quote and order value and the numbers of each that were produced.
Although the order quantity was up significantly by over 20% in the first quarter of 2023 compared to 2022, the average order value decreased by around 20%.
The average quote value and conversion rates have also remained virtually the same.
Cost of living affecting the window industry?
These trends could indicate that with the ongoing cost-of-living crisis customers are currently choosing to go ahead with smaller orders. With customers often assessing multiple options of quotes to proceed with, it is important to ensure that your quotations are as clear as possible.
At EndtoEnd IT, our software is designed to clearly lay out the work that is being quoted for. integrate also provides you with an email template to send across multiple quotes presenting the different options to your customer. The different prices for the quotes are then automatically outlined in a table within the email to provide customers with a quick overview comparison.
The fact that the average quote value has stayed roughly the same indicates that customers may be looking to phase work, rather than undertaking projects in one large order, by obtaining a quote for all the work and then choosing to proceed initially with the most urgent items.
Alternatively, as these figures are not adjusted for inflation, this could be the impact of companies not increasing prices, conscious that they want to maintain order levels.
This is reflected in the wider marketplace. With inflation remaining high, a recent Government survey conducted in April 2023 showed that two thirds of UK adults are spending less on non-essentials (source).
With around £250 million worth of work being quoted for on integrate in the first quarter of 2023, window and door companies are increasingly turning to integrate to help them grow their business.
integrate can help increase your profit margins by automating processes and making administration tasks quicker to complete, allowing you to concentrate on what will help your business grow.
The quotations produced using integrate are professional looking and can be produced to comply with your company branding guidelines. Quotes can be generated in minutes, meaning they can instantly be sent across to customers, enabling you to win more orders.
The information above may give us a broad view of what is happening in the market but our integrate software has multiple tools and reports to help our clients analyse the state of their business in more detail.