For once the oft-used expression "mixed messages" seems the most apt way to describe the latest lending stats from the Bank of England.
Total net lending to individuals rose by £0.3 billion in July. The twelve-month growth rate was unchanged at 0.8% in July. The three-month annualised growth rate fell to 0.5% in July, from 0.6% in June.
Within the total, net lending secured on dwellings increased by £0.1 billion, below the June increase of £0.5 billion and the previous six-month average of £0.8 billion.
The twelve-month growth rate rose slightly in July to 1.0%, from 0.9% in June, and the three-month annualised growth rate decreased to 0.4%, from 0.6% in June.
The number of loan approvals for house purchase (48,722) was broadly in line with the June figure (48,562) and the previous six-month average (48,546). Approvals for remortgaging (26,951) however, were up on June and also higher than the previous six-month average (26,235).
This could suggest that home owners are cashing in on the equity of their homes to fund major improvements such as buying a new kitchen or bathroom. Equally, they could be using the money to pay off other loans.
Consumer credit rose by £0.2 billion in July, in line with the previous six‑month average and above the June decrease of £0.1 billion, and credit card lending increased by £0.2 billion, in line with the previous six-month average. Other loans and advances remained stable, also in line with the previous six-month average.
The annual growth rate of consumer credit rose by 0.2 percentage points to 0.2% and the three-month annualised growth rate rose to 0.9%.
31 August 2010
Lean and mean selling machine
Forgive me, but I'm getting just a tad fed up with those in KBB Land banging on about how bad business is because property prices are not racing ahead out of control.
Again.
I've been through at least four property roller coaster rides since the 1960's (no, the 60's weren’t all peace and love and sadly not all sex and drugs and rock'n'roll either), and they all followed the same pattern.
House prices go up and everyone thinks the rise will last for ever. People get very excited and over-extend themselves. House prices plummet and everyone looks surprised.
Wounds are licked, house prices come down slightly, wages go up slightly, and the pain of negative equity fades, and off we go again. That's basically all there is to it
Oh yes, one other small but interesting point. Since 1968, every housing bust has lasted the same time as the boom that preceded it.
If that's repeated this time (and don't be misled by the temporary 'spike' in property prices that - happened in the last crash too), we have another seven or eight years to wait before we see property prices shoot up again.
Now you can spend the next eight years looking over your shoulder at the "good old days" if you wish, but you are going to miss a lot of the opportunities that lay ahead if you do.
We've lost the 'froth' of year-on-year property price hikes, but when did anybody doing up an investment property for a quick sale buy quality kitchens and bathrooms?
Why do builders (mostly) only focus on how low they can drive the prices of the kitchens and bathrooms they buy too?
It's because neither had to live with the consequence of their purchase decisions.
The private buyer who is going to live in their 'home' - and the key word here is 'home not 'property investment' - is the bedrock of the UK's kitchen and bathroom business.
Oh sure, the private buyer can drive a hard bargain because it's a buyer's market. But you've trimmed your costs and you are now leaner and meaner, thanks to your froth-free diet.
The independent kitchen or bathroom supplier is best placed to do serious business with serious customers, but you won't see them coming if you are always looking behind you.
Again.
I've been through at least four property roller coaster rides since the 1960's (no, the 60's weren’t all peace and love and sadly not all sex and drugs and rock'n'roll either), and they all followed the same pattern.
House prices go up and everyone thinks the rise will last for ever. People get very excited and over-extend themselves. House prices plummet and everyone looks surprised.
Wounds are licked, house prices come down slightly, wages go up slightly, and the pain of negative equity fades, and off we go again. That's basically all there is to it
Oh yes, one other small but interesting point. Since 1968, every housing bust has lasted the same time as the boom that preceded it.
If that's repeated this time (and don't be misled by the temporary 'spike' in property prices that - happened in the last crash too), we have another seven or eight years to wait before we see property prices shoot up again.
Now you can spend the next eight years looking over your shoulder at the "good old days" if you wish, but you are going to miss a lot of the opportunities that lay ahead if you do.
We've lost the 'froth' of year-on-year property price hikes, but when did anybody doing up an investment property for a quick sale buy quality kitchens and bathrooms?
Why do builders (mostly) only focus on how low they can drive the prices of the kitchens and bathrooms they buy too?
It's because neither had to live with the consequence of their purchase decisions.
The private buyer who is going to live in their 'home' - and the key word here is 'home not 'property investment' - is the bedrock of the UK's kitchen and bathroom business.
Oh sure, the private buyer can drive a hard bargain because it's a buyer's market. But you've trimmed your costs and you are now leaner and meaner, thanks to your froth-free diet.
The independent kitchen or bathroom supplier is best placed to do serious business with serious customers, but you won't see them coming if you are always looking behind you.
26 August 2010
New kitchen component showcase launched
Kitchen component companies come together for three-day showcase.
The launch of Kx v.10, a three day kitchen component event showcasing the next generation of kitchen storage and accessory solutions from leading manufacturers and distributors, has been announced.
Kx v.10 will be held at the, centrally located Blum headquarters in Milton Keynes from Tuesday 21 September to Thursday 23 September.
In addition to the launch of new and innovative products from each exhibitor, there will also be a series of product demonstrations and seminars.
Click here for further info
The launch of Kx v.10, a three day kitchen component event showcasing the next generation of kitchen storage and accessory solutions from leading manufacturers and distributors, has been announced.
Kx v.10 will be held at the, centrally located Blum headquarters in Milton Keynes from Tuesday 21 September to Thursday 23 September.
In addition to the launch of new and innovative products from each exhibitor, there will also be a series of product demonstrations and seminars.
Click here for further info
23 August 2010
Making a virtue out of a necessity
You have to hand it to Siemens Appliances. In one fell swoop they give the nervous customer peace of mind while at the same time slamming the kitchen door shut on its competitors.
The brand has just launched a free, five year warranty covering call out, parts and labour on selected built-in appliances. And before you start having naughty thoughts about the ‘selection’, the list includes the latest aCool refrigeration, designer chimney hoods, plus a broad cross section of built-in ovens, hob, compact appliances, and integrated dishwashers.
To qualify for the warranty and get the reassurance that, in the unlikely event of one of the Siemens appliances turning up its tail during the first five years of its working life, the consumer has to select five appliances for their new kitchen or remodelling project.
The promotion runs through to 1st January, so its timing is perfect for those “Beat the VAT Increase” sales in the run-up to the end of the year, and the appliances themselves have be installed by June 2011.
No matter how reliable the brand, the consumer wants a guarantee – and the longer the better too. A free five year all-embracing warranty is highly desirable and I would wager most customers would happy to have a kitchen full of Siemens appliances in return for the peace of mind such a guarantee will give them.
Cunning eh?
The good, the bad and the dangerous kitchen appliances - according to Which?
The latest report by Which? includes the usual mixed bag of advice about kitchen appliances from the Consumers Association.
Things get off with a bang on page 6 with a report of two exploding washing machines in Germany. The manufacturer (Candy) was unable to say whether UK models could go bump in the night as well but did offer the reassurance that the problem related to a "very rare and now historic anomaly seen sporadically in a tiny fraction of high spin models made prior to September 2009".
"Tiny fraction" could also apply to the amount of dust a Tesco vacuum cleaner picked up in a recent Which? test. "Every little helps" may be a catchy advertising phase but Which? were clearly looking for a little more than the 2% of dust the machine picked up and stated the appliance was "the worst model we have reviewed in recent years".
There was much better news for AEG (AEG-Electrolux surely? Ed.) on page 11 as Which? said its AUS 3965P vacuum was not only "the quietest we've tested in recent years" but also delivered "excellent" cleaning of carpet laminate and floorboards.
There was also praise for the new Bosch SMS63E12GB dishwasher which reduced the amount of water it uses on a full load by around five litres less than other full size machines.
It looks like there has been a change of policy at the Consumers Association. The Which? review of kitchen appliances that should have been a weighty tome was just three pages long. Most of the information - and there is quite a lot of it - is now online. For example visit www.which.co.uk/kitchenappliances and you can click through to reviews of 86 built-in ovens, 106 dishwashers and 125 fridge freezers.
But you need to be a member of Which? to read the full results - and that has to be bad news for dentists' waiting rooms throughout the land. It also gives Which? the chance to plug other services such as its list of expert tradespeople.
In terms of the appliances mentioned in the magazine, top marks go to: Indesit for its VIA 640C hob; Electrolux for its Intuition single oven; Miele for its W5740 washing machine; and Samsung for its RL38SB fridge-freezer.
Things get off with a bang on page 6 with a report of two exploding washing machines in Germany. The manufacturer (Candy) was unable to say whether UK models could go bump in the night as well but did offer the reassurance that the problem related to a "very rare and now historic anomaly seen sporadically in a tiny fraction of high spin models made prior to September 2009".
"Tiny fraction" could also apply to the amount of dust a Tesco vacuum cleaner picked up in a recent Which? test. "Every little helps" may be a catchy advertising phase but Which? were clearly looking for a little more than the 2% of dust the machine picked up and stated the appliance was "the worst model we have reviewed in recent years".
There was much better news for AEG (AEG-Electrolux surely? Ed.) on page 11 as Which? said its AUS 3965P vacuum was not only "the quietest we've tested in recent years" but also delivered "excellent" cleaning of carpet laminate and floorboards.
There was also praise for the new Bosch SMS63E12GB dishwasher which reduced the amount of water it uses on a full load by around five litres less than other full size machines.
It looks like there has been a change of policy at the Consumers Association. The Which? review of kitchen appliances that should have been a weighty tome was just three pages long. Most of the information - and there is quite a lot of it - is now online. For example visit www.which.co.uk/kitchenappliances and you can click through to reviews of 86 built-in ovens, 106 dishwashers and 125 fridge freezers.
But you need to be a member of Which? to read the full results - and that has to be bad news for dentists' waiting rooms throughout the land. It also gives Which? the chance to plug other services such as its list of expert tradespeople.
In terms of the appliances mentioned in the magazine, top marks go to: Indesit for its VIA 640C hob; Electrolux for its Intuition single oven; Miele for its W5740 washing machine; and Samsung for its RL38SB fridge-freezer.
19 August 2010
Vintage festival at Goodwood
Curating a festival for four decades of British cool in the open air, is a risky business, writes Johnny Grey on his blog, especially if it is not music focused and aims at family appeal.
Situated on the edge of the South Downs, normally used for hosting horse racing, the venue rolled out an easy charm; a mix made for designers, music lovers and nostalgia seekers; many dressed up in clothes older visitors had in their attics and younger ones bought in charity shops, market stalls or village fetes.
Read more: Vintage festival at Goodwood
18 August 2010
Customer service survey
 |
| Taken from an article by Joilet Junior College |
Yeah, I know, "essential", but a little more information would be really helpful, especially as the topic has been in the news - well on this blog anyway - recently.
You may remember an earlier post: Top Ten Customer Service Trends. This was taken from an article by Joilet Junior College (who we also 'borrowed' the above image from), and recently on the kbb News website, we reported on the BSH Group winning - for the second year running no less - the Domestic & General TEQ Customer Service Award.
Clearly they take customer service pretty seriously - how about you?
Now its your turn to say how importantly you take customer service. Please take a few minutes to complete the online survey kbb News and the Bathroom Manufacturers Association (BMA), have put together.
kbb News will use the information in a report that will be published in October and the BMA will share the data with its Facilitator at this year's Conference, the theme of which is: "Customer Service, Making Good Business Sense".
Click here to find the survey and we look forward to receiving your response.
Meanwhile, if you would like any details about the Annual Bathroom Conference 2010, please click here to visit the BMA's Conference website.
Top 10 Customer Service Trends for 2010
In 2010, customer service makes a big comeback. It becomes the new marketing.
Forget about paying lip service to offering "great customer service". Let go all of those "the customer is always right" myths. It's time to offer outstanding customer service only because it makes economic sense for your small business. It is the only truly sustainable competitive advantage.
Click here further info
Forget about paying lip service to offering "great customer service". Let go all of those "the customer is always right" myths. It's time to offer outstanding customer service only because it makes economic sense for your small business. It is the only truly sustainable competitive advantage.
Click here further info
13 August 2010
The tree of life?
"They took all the trees
Put 'em in a tree museum
And they charged the people
A dollar and a half just to see 'em"
Joni Mitchell's 1970 classic Big Yellow Taxi may not have got to the top ten - it reached 67 in the all-important Billboard chart of the day - but it got a lot of airplay.
IKEA's big yellow presence (get the link?) in the home interiors market is too large to be ignored and it is probably in the top ten of retailers in this sector. So it is wholly appropriate (and just a tad ironic) that it sponsored the art installation above and invited the press to discuss a report it has commissioned: "The Future of Kitchens".
Why appropriate and indeed why ironic? The Future Laboratory, who produced the report for IKEA, looked at what life is likely to be like in 2040 when, according to the Untied Nations, it is predicted around 60% of the world's population will live in cities.
The cities themselves will expand considerably and may even cross country boundaries. A little difficult in an island like Britain I grant you (please, no emails from Scotland or Wales), but easier to imagine on a landmass like continental Europe. So s the cities get bigger, trees will get fewer.
If anybody when to IKEA's press conference at the Barbican on 12 August expecting to find out what colour the kitchens of next year were likely to be or what consumers would be cooking their food on, they would probably have been disappointed although I did manage to get a hint or two out of Gerry Dufresne - Kitchen Range Strategist for IKEA.
However if you believe that form follows function, the presentation had much to offer because function is going to change - big time.
Food prices are going to increase, which means more people are going to grow their own. Energy costs are going to shoot up, so even if Jo Public could not care less about the fate of polar bears, there will be a strong financial incentive to adopt a more energy efficient lifestyle. And we are running out of water.
Where does the kitchen it in? Even if 'Heart of the Home' statements get you pouring yourself a strong coffee, the truth is that the kitchen uses more energy than any other room in the household.
And while water use in a kitchen may not be as obvious as in a bathroom, when you take into account dishwashing and laundry as well as cooking and drinking, it runs it a very close second.
The kitchens of the future really will be the heart of the home, with the energy currently being wasted used to warm other areas, and with changes in storage requirements to cater for more homegrown produce - some of which will be growing in the house itself.
The kitchen will lose its status as a room and become a function within the living space of the home - a process that has already started.
Back to the now and the one finding we should all take from the report and embrace immediately is the need to specify more energy efficient appliances and kitchen furniture with a greater degree of longevity rather than just a short-term fashion statement.
And if we don't embrace the need to change? Take it away Joni baby!
"Don't it always seem to go
That you don't know what you've got
Till it's gone
They paved paradise
And put up a parking lot"
That you don't know what you've got
Till it's gone
They paved paradise
And put up a parking lot"
10 August 2010
With fire comes civilisation, via the kitchen
Kitchen designer Johnny Grey has published an inspired post on his blog.
Read the full post at: With fire comes civilisation, via the kitchen
It appears Darwin can shed light, or rather add fuel to the fire, to the debate about why kitchens are important, how they have helped humans jump up the evolutionary scale and explain why they are spaces on the ascendance, even though people cook less.
In this book Catching Fire: How cooking made us human, Richard Wrangman explains how cooking has made us more intelligent and sociable in evolutionary terms; cooking helps us have better sex, promotes (useful) division of labour and contributes to the concept of well-organised, domestic households.
Read the full post at: With fire comes civilisation, via the kitchen
5 August 2010
Bring me sunshine?
UK businesses need to be ready to face the risks and benefit from the opportunities that climate change could bring, Environment Secretary Caroline Spelman said today.
A new survey of UK businesses and other organisations carried out for Defra by Ipsos MORI has found that while many businesses have been affected by the type of weather that climate change may bring, preparations for the impacts of climate change are not well advanced.
Three quarters of the businesses surveyed were concerned about the effects of climate change on the UK and one in three (31%) had been significantly affected in the last three years by extreme weather such as flooding and drought.
However, less than a quarter (23%) had actually started to do something about the risks and opportunities that climate change poses.
The survey also shows that businesses generally perceive a changing climate to be a threat rather than an opportunity. However recent Defra-funded research has shown that the impacts of climate change will present opportunities for UK businesses across a range of sectors such as construction and retro-fitting, water management, tourism, transport and food production.
But greater effort is needed by companies to factor climate risk and opportunity into their business if they are to exploit these new opportunities and areas for significant growth.
Speaking at the Met Office Hadley Centre, in Exeter, the UKs foremost climate change research centre, Environment Secretary Caroline Spelman said:
“We know that some level of change is now unavoidable and it is the responsibility of us all to think about what a changing climate will mean for our health, our businesses and our way of life. By planning for the adaptation we need now we can ensure that the UK is best placed to meet the challenges of climate change head-on.
“A warmer climate will bring both opportunities and challenges for businesses of all sizes. I want to ensure that UK businesses are well placed to take advantage of the new opportunities that arise as well as ensuring they are ready for the difficulties that higher temperatures and more adverse weather could mean for their staff and working practices.”
A new survey of UK businesses and other organisations carried out for Defra by Ipsos MORI has found that while many businesses have been affected by the type of weather that climate change may bring, preparations for the impacts of climate change are not well advanced.
Three quarters of the businesses surveyed were concerned about the effects of climate change on the UK and one in three (31%) had been significantly affected in the last three years by extreme weather such as flooding and drought.
However, less than a quarter (23%) had actually started to do something about the risks and opportunities that climate change poses.
The survey also shows that businesses generally perceive a changing climate to be a threat rather than an opportunity. However recent Defra-funded research has shown that the impacts of climate change will present opportunities for UK businesses across a range of sectors such as construction and retro-fitting, water management, tourism, transport and food production.
But greater effort is needed by companies to factor climate risk and opportunity into their business if they are to exploit these new opportunities and areas for significant growth.
Speaking at the Met Office Hadley Centre, in Exeter, the UKs foremost climate change research centre, Environment Secretary Caroline Spelman said:
“We know that some level of change is now unavoidable and it is the responsibility of us all to think about what a changing climate will mean for our health, our businesses and our way of life. By planning for the adaptation we need now we can ensure that the UK is best placed to meet the challenges of climate change head-on.
“A warmer climate will bring both opportunities and challenges for businesses of all sizes. I want to ensure that UK businesses are well placed to take advantage of the new opportunities that arise as well as ensuring they are ready for the difficulties that higher temperatures and more adverse weather could mean for their staff and working practices.”
2 August 2010
Hair we go again
A close shave in a good cause by Martin Gill of Poggenpohl.
A casual conversation by Martin Gill, head of global retail for Poggenpohl, on the Facebook networking site is turning into a substantial fund raising activity for Cancer Research UK.
In a post to his contacts Martin offered to shave his head if sufficient ‘friends’ promised to make a donation to the charity - and £1000 was soon pledged. And as can be seen from this picture, Marin Gill was true to his word.
He is now keen to push this imitative as far as he can and has set up a Just Giving page to make it easier for people to make donations to his campaign. This is at: http://www.justgiving.com/poggenpohl.
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