Inspiring Business by Sharing Success

Flooring boss asks shoppers to brace themselves for ‘inevitable price hike’ in 2021 due to sharp world changes

Flooring boss asks shoppers to brace themselves for ‘inevitable price hike’ in 2021 due to sharp world changes

Factory Direct Flooring’s MD has warned that a combination of Brexit, a shipping hike and unprecedented demand will force prices of all goods up next year

The head of one of the UK’s biggest online flooring retailers, Factory Direct Flooring, has advised consumers to prepare themselves for an ‘inevitable’ price hike in all durable and consumable goods due to a triangle of change coming our way in 2021.

Paul Hambidge, founder and managing director of the East Midlands based company, has said an immense 450% hike in shipping costs, the backlash of Brexit and also a spike in demand will hit prices in spring 2021.

He said:

“It’s a trio of change that has arisen due to the COVID-19 pandemic and people stockpiling, shipping lines raising their prices and the inevitable Brexit change which is going to be the perfect storm next year that I wanted to highlight to customers. But not just for flooring, this is something that is hitting all online and offline businesses for all goods in the coming year, and it’s time to be a little bit savvy about it.”

Mr Hambidge said the shipping lines had already put their prices up drastically over the last few months, and people were also looking closer to home in Europe before Brexit so they can get products into the UK quicker, which was causing them to stockpile.

‘There is a huge demand that many couldn’t have predicted. For example when our new Herringbone product was launched just a few months ago - usually a flooring style will take around six months to become popular. Ours was within a few weeks which has meant on some lines we are out of stock until mid-January. It’s the quickest selling range we have had,” he added.

However Paul said there was still reason for positivity as he advised people to buy high-ticket items in the next two months rather than wait; especially if they had a project planned for the new year.

“There will be a price increase for basic necessities; such as household goods, but that will only be minimal when you look at the price. But with everyone’s base rate going up, on high ticket items such as flooring, a similar percentage price increase will make a huge difference, so the time to buy is now,” he said.

The flooring expert also predicted that the more expensive items, such as a wood flooring, would also dip in popularity, but cheaper items such as LVT, Laminate and vinyl would become key.

“With furlough coming to an end in March and increased costs in living, people will have to become more frugal with their money - consumers will have to shop around. Now is the best time to buy from somewhere directly. I do hope all businesses are able to weather the storm,” he said.

Factory Direct Flooring, which has been running alongside its sister company Carpet World, for 32 years, has a retail store in Hinckley (which is currently closed in line with government guidelines) and warehouses in Nuneaton. As a result of such growth over the past year-and-a-half, Factory Direct Flooring increased its warehouse storage size to 20,000 square foot to keep up with orders.

Factory Direct Flooring supplies wood, vinyl and laminate flooring to retailers, commercial sites and residential customers throughout the UK.

For more details, visit www.factory-direct-flooring.co.uk

 


< Back