Business and product trends for 2024
On day 9 of our 12 Days of Trade, we’re looking at trends for 2024. We’ve had a chat with NuStock Regional Manager, Christian Hollier, about what he thinks next year will hold.
What are the business trends you foresee for 2024?
2023 has seen a tough economic environment and we’re all hoping for a more positive 2024. We do know that our customers are spending more time shopping around than they have previously, which means we all have to offer something over and above our competitors.
Convenience has - and continues to be - important for many customers, and this is a trend we expect to continue into 2024. Click and collect is not new, but it is set to become more prominent next year, with customers wanting to collect products within 24 hours or less. This is a facility suppliers may have to adopt, if they haven’t already, to ensure they keep up with the competition.
Ecommerce and social media will also continue to play a key role in 2024. Whilst many customers still like to visit their local branch and see products firsthand, buying on line is growing in popularity, with convenience - again - being cited as the reason.
Whilst social media is not everyone’s cup of tea, it is an effective and efficient way of keeping in touch with your customers, as well as monitoring customer behaviour and buying habits.
What are the product trends for 2024?
Product trends will always come and go, but next year we believe external cladding, decorative panels and colours will be the key trends.
Recently, external cladding has shifted from being a necessity to protect your home to an aesthetic choice, adding texture and colour. With regards to colour, grey is still extremely popular and will continue to be so, whereas the popularity of green tones is starting to wane.
Decorative panels are fast becoming a viable – and popular, alternative to traditional tiles and we’re sure they will become the wall covering of choice next year. Easy to install and even easier to maintain these panels offer a wide range of authentic, often textured, finishes at a fraction of the cost of the real thing.
Overall, we are feeling positive about 2024. We know the first three months will be tough for all of us, but we’re confident the market will improve as the year goes on.
