In the UK there are approximately 29 million homes; 18 million owned and 11 million rented. For many years now we have seen the market move from DIY to “done-for-you”. If people want a modern kitchen, they increasingly look to a small builder to fit it.
The consumer environment has been mixed over the last few years. Increases to stamp duty in 2016 affected purchases of 2nd homes, and the potential impact of Brexit led to subdued consumer confidence over the last two years. HoweverWe continue to see a good level of investment in new house builds and with a more settled political environment, we would expect the market to become more stable.
We are the UK’s biggest seller of kitchens in the UK.
We sell to small builders who work across many sectors of the market. Our kitchens are fitted in a wide range of end-uses, including private rentals and social housing, as well as all kinds of owner-occupied homes.
Our contracts division which was started in 2017 is continuing to grow rapidly, creating opportunities for us to expand our presence in the new-build contract market, a growing area of the UK housing landscape.We also supply a wide range of doors, joinery, appliances and everyday hardware products used by joiners meaning that our customers have a one-stop-shop for everything they need to complete the kitchen job.
Increasing our total addressable market and bringing us even closer to our existing customers.
We believe that there is some way to go before we have saturated the UK market and we see continue to see significant opportunities to grow our business
Howdens’ success is based on customer service: we do what we say and say what we mean.Our business benefits from the investment we make in developing our people. When we invest in the right people, we can grow our own leaders. Leaders who already understand the Howdens business model and culture.
We are investing in our digital capability as a means of further strengthening the human relationship between the builder, the builder’s customer and the depot. Increasing builder and consumer awareness of the Howdens brand and make it easier for our customers to sell Howdens products.