BMBI Column
Neil Hargreaves BMBI Expert for Mineral Wool Insulation
23rd November 2022
QUARTER 3 2022
£4,347.
260%.
8 million.
Three numbers that tell the story of demand for mineral wool insulation over the coming months.
£4,347 is the latest prediction for a typical annual energy bill come April, for those households who won’t receive any support when the current universal price cap ends. 260% was the increase in sales of loft roll insulation reported by Kingfisher Group in September compared to the same three-week period in 2019, as the October price cap increase loomed.
And 8 million is the estimated number of uninsulated lofts in the UK. If we add “under-insulated” lofts, it’s many millions more. Bear in mind new build lofts are often insulated to a depth of half a metre nowadays. So, there’s a compelling impetus for more loft insulation, the trend is already noticeable, and the potential market is huge, even in the absence of a sorely needed national retrofit scheme.
After years of being driven largely by public policy (e.g. building regulations and the ECO scheme), sales of insulation are now largely being driven by a much simpler calculus for households. For those able to pay, it pays to top up their loft. That presents a significant market opportunity for merchants. These new DIY customers will need a level of support and expert advice that may not be available to them in large retail chains. By preparing branch staff, merchants will be well-placed to capitalise.
Staff will need to be ready to advise on:
- How much insulation a homeowner should install (what’s the newbuild standard, and what’s the value of going beyond it). Up-selling opportunities abound here, as in general, more insulation means lower energy bills.
- How to ensure a quality installation. That includes giving guidance on the right insulation product for the application, and also the potential challenges and pitfalls of retrofit jobs, and how proper preparation and equipment can mitigate them. This creates cross-selling opportunities, as customers may need ancillaries like sealants and eaves vents. More importantly, it makes a quality outcome more likely.
Merchants keen to serve this customer base can visit our website for a suite of DIY-friendly materials that answer these questions, and provide step-by-step installation instructions.