Locating new ways to grow in the post-COVID economy
Client
We worked with one of the most established joinery firms in the UK. Founded in the 1980s, the company generates over £30 million in annual revenue.
Situation
This specialist joinery contractor has completed a significant number of iconic projects over the years, serving prestigious commercial and private clients. The company's main source of revenue comes from high-end office projects. The client team felt the need to reposition the firm when millions of people started to work from home due to the COVID-19 pandemic.
Our task was to determine the sectors and regions that are likely to offer new growth opportunities in a post-coronavirus world and help the company plan ahead for the future.
Our task was to determine the sectors and regions that are likely to offer new growth opportunities in a post-coronavirus world and help the company plan ahead for the future.
Action
We were given a list of eighteen sectors to analyse, including residential, hospitality, retail, healthcare, public, education and many more. In order to predict how these sectors will evolve in the near future, our team conducted extensive research on consumer spending, economic activity, changing trends and investment volumes in the UK construction industry.
Additionally, we worked to understand the impact of the COVID-19 on consumer behaviour and the need for specialist joinery in the target sectors. Data was mainly collected from exclusive business databases, market research reports, expert articles and industry magazines. We periodically updated our analysis by monitoring the data throughout the project.
Once we presented our findings and arguments to the Board of Directors, we were given the go-ahead to conduct primary research in the next stage.
Our team reached out to over five hundred industry professionals, such as procurement and supply chain managers of large main contractors. The information provided by the respondents shed light on changes in the industry and how joinery contractors are hired. Furthermore, the work revealed immediate business opportunities for the client.
Additionally, we worked to understand the impact of the COVID-19 on consumer behaviour and the need for specialist joinery in the target sectors. Data was mainly collected from exclusive business databases, market research reports, expert articles and industry magazines. We periodically updated our analysis by monitoring the data throughout the project.
Once we presented our findings and arguments to the Board of Directors, we were given the go-ahead to conduct primary research in the next stage.
Our team reached out to over five hundred industry professionals, such as procurement and supply chain managers of large main contractors. The information provided by the respondents shed light on changes in the industry and how joinery contractors are hired. Furthermore, the work revealed immediate business opportunities for the client.
Result
We recommended that our client should target three sectors in particular and listed five other promising areas. For example, it was discovered that the client team must keep a closer eye on redevelopment and expansion projects of private jet airports. A 50-page report was produced to help shape the company’s marketing and sales efforts towards the selected sectors. The report also included a discussion on procurement practices and decision-makers within the industry.
Any questions?
Let us know. No sales pitch. No obligation.
Arrange a Call Back
Newsletter
Join 5000+ subscribers. Receive exclusive management insights from leading experts.
Copyright © 2014–2024 First Step Consulting. All Rights Reserved