Businesses in Wales who trade globally faced challenges in Q2 of 2024, according to Chambers Wales South East, South West and Mid’s latest Quarterly Economic Survey.
46% of businesses in Wales reported in the survey that their export sales had decreased over the last three months, with 38% stating that their sales had remained constant during this period. Over half (54%) shared that export orders and advanced bookings had also decreased in Q2.
This contrasted with the performance of Welsh businesses who traded domestically. 48% of the firms who took part in the survey trade goods and services in the UK only. Three quarters of these businesses saw sales increase or remain at a constant level over the last quarter and 29% saw domestic orders and bookings increase.
To overcome these challenges, businesses in Wales highlighted access to new markets and new international markets as opportunities to help their business recover.
Paul Butterworth, CEO of Chambers Wales South East, South West and Mid, said: “Wales has so much to offer to the world but, as our latest survey shows, more exporting support is needed. It is imperative that businesses who wish to trade internationally receive the correct support and guidance to connect, trade and thrive on the global stage, whether that is from specialist teams within our Chamber network or through government programmes.”
The Quarterly Economic Survey for Q2 also revealed optimism. Half of those surveyed predict that profitability will improve over the next 12 months, and 59% expect turnover to improve.
There were also small rises in the number of businesses in Wales who increased their investment plans for training, equipment, plant and machinery over Q2.
Paul Butterworth added: “It is heartening to see the positivity of the Welsh business community, particularly the gradual shift in confidence that has allowed some businesses to make plans to invest in their resources, people and skills.
“With inflation now at its lowest level in years, and interest rates hopefully soon to follow suit, we hope that the incoming government will foster an environment of economic stability that puts Welsh business on a trajectory to a higher-growth future.”
Holly Neal, a digital performance strategist at Door4, which specialises in helping homes and interiors businesses drive traffic, conversion and sales, explains why home movers are a compelling market segment to target in 2024.
Despite the Home & Garden sector expecting to see slow growth in 2024, projected at 1.7% YoY to £46.42 billion*, home movers’ propensity to spend makes them a prime target for furniture retailers seeking growth opportunities.
Current estimates are that this audience spends on average £42,000 on goods and services in the months surrounding their move**. So recognising and speaking to the unique needs and preferences of this market segment during their home-buying journey can be an important ingredient in an effective marketing plan.
However there has been a significant shift in how this audience behaves that businesses must take heed. Analysing property and homemover data, four key shifts in how recent movers in suburban and rural areas behave, particularly those interested in DIY, home improvements and gardening.
A decline of 8% in engagement when this audience is researching products online
While finding information remains paramount, there has been a notable decline of 8% in consumer engagement in researching products online since 2020.
Search for knowledge has increased by 8%
Recent movers are increasingly turning to online platforms to seek guidance on ‘how to do things,’ indicating a growing interest in practical, hands-on information rather than just product specifics.
There is a declining interest in product research
Contrary to the broader market trend, recent movers within this segment are showing a decline in interest when it comes to researching specific products or brands before making a purchase decision and there has been a 7% decline in researching products/brands.
Inspiration is taking a back seat
The desire for inspiration is waning among this market segment, with a 7% decrease in consumers actively seeking new ideas or inspiration for their home and garden projects.
So what does this mean for furniture retailers?
Our research shows that applying a ‘Living, Learning, Buying’ approach when shaping a communication framework, which takes into account current trends in search priorities at different stages of home movers’ consideration journeys, can help to drive consideration in the moments that matter.
In the Living phase, consumers are immersed in the flow of their daily lives, not actively seeking out brands. However, certain channels naturally contribute to brand discovery as they go about their routines, it is here that it is important to build mental availability of future home movers.
Brand Discovery: Top 5
Audience %
Search engines
44
Word-of-mouth recommendations from friends or family members
44
Ads seen on TV
42
Online retail websites
39
Ads seen on social media
39
Transitioning to the Learning phase, home movers are now preparing to enter the market and become more intentional in seeking information about products and brands as their interest is piqued. Understanding and conveying category entry points become crucial during this phase.
Online product research: Top 5
Audience %
Search engines
65
Consumer reviews
52
Product/brand sites
41
Price comparison websites
37
Social networks
28
In the Buying phase, home movers are extremely active and ready to make decisions and these specific factors become paramount in influencing their online purchases.
Online Purchase Drivers: Top 5
Audience %
Free delivery
77
Coupons and discounts
53
Reviews from other customers
45
Quick/easy online checkout process
44
Easy returns policy
38
The power of relevance
Segmenting audiences in this way, based on variables such as behaviours, attitudes and interests, is crucial to crafting highly relevant messages that resonate with active buyers. Being highly targeted with your communication channels and tailoring your messaging to an active audience segment will ensure that your marketing budgets work even harder, driving up that ROI and helping you to navigate the year ahead.
If you want to harness the power of home mover marketing, Door4 can support you with strategic audience targeting and help you get more for your budget during uncertain times.
Swansea Building Society has reaffirmed its support for Swansea City Football Club with a renewed partnership for the 2024/25 season. As part of this commitment, Swansea Building Society will continue as the back of shirt sponsor, ensuring their logo features prominently on both the home and away kits.
Building on a successful four-year sponsorship deal with the Championship team, Swansea Building Society’s ongoing commitment solidifies the close ties between both organisations.
In a change to previous years, Swansea Building Society’s logo will appear slightly differently on the 2024/25 season away kit. While allowing the Society’s colours of green and white to stand proud on the home shirt, a colour change will appear on the away shirt to provide a fully immersive kit. The logo will be greyscale on the away shirt, aligning with the overall kit design and matching the new colour scheme adopted by all logos and sponsors. This change ensures a cohesive and stylish look for the team while on the road.
The partnership between Swansea Building Society and Swansea City AFC has flourished over recent years, with the Society providing valuable sponsorships to support the club’s success. Notably, the executive lounge at the Swansea.com stadium was renamed the Swansea Building Society lounge in recognition of this enduring collaboration.
Swansea Building Society has a long history of serving the South Wales area, offering a range of savings and mortgage products since its founding as a mutual in 1923. With its headquarters in Swansea and branch offices in Mumbles, Carmarthen, and Cowbridge, Swansea Building Society has become an integral part of the community, embodying a personal, face-to-face approach that caters to the unique needs of its members.
For over a century now, both Swansea Building Society and Swansea City AFC have played crucial roles in the fabric of Swansea’s history and growth. The Society celebrated its centenary last year, and it is 100 years since Swansea Town, as the football club was known at the time, earned its first league honour in 1924. Since then, both organisations have thrived, achieving significant milestones and contributing to the prosperity of the Swansea community.
Alun Williams, Chief Executive of Swansea Building Society, said:
“We are thrilled to renew our support as the back of shirt sponsor for Swansea City AFC for the 2024/25 season. Our longstanding partnership with the club highlights our shared dedication to the Swansea community. This year, with the new colours on the away kit, we continue to reflect our innovative spirit and commitment to the club’s success. We look forward to another exciting season and wish the team all the best on and off the field.”
Lee Merrells, Head of Partnerships at Swansea City AFC, added:
“We are delighted to continue our partnership with Swansea Building Society for the upcoming season. Their ongoing support is invaluable to us, and their presence on our kits exemplifies the strong bond between the club and the community. The updated colours for the away shirts not only enhance the overall design but also demonstrate our collaborative efforts to bring fresh and cohesive aesthetics to our fans. We are excited about the season ahead and the continued success of our partnership with Swansea Building Society.”
Inheritance recovery specialists Perane have unveiled a new one-stop-shop approach to streamline the coordination required between charities, executors and financial institutions where legacies are divided between a number of organisations.
The aim of the new service is to simplify processes when an individual leaves a residual estate to be divided between various charitable organisations.
If only one or two charities are the beneficiaries the process is relatively straightforward. However, more often than not, it can involve between six to ten different organisations and sometimes more, making the repatriation of funds time consuming and complex.
Specialists Perane and Co will now act as a one-stop-shop for the identification of unclaimed assets, act as a co-ordinator between the various charities and, at the same time, a single point of contact with the executor and financial institutions – simplifying communications and removing the stress from legacy managers and professional or lay executors.
Bruce Cane, CEO of Perane, (pictured above) says: “We work with the charities in order to facilitate the disbursement of these legacies. When it involves multiple beneficiaries, it is usual practice for one charity to take the lead and co-ordinate with the remaining parties.
“But navigating a process with increases in the workload for already overstretched and understaffed charities is difficult, which is why Perane can now offer this as a one-stop-shop service, removing stress from all parties involved.”
Utilising its in-depth knowledge of the dormant asset landscape and resources, Perane is able to source all the documentation, handle the paperwork and communications between the relevant charities and the executor, providing a professional service to all parties.
Cane adds: “We understand that in many cases charities are unfamiliar with what we do because this is new ground for them. Because of the technology we have developed at Perane, we are able to recover assets missed by the executors in the original winding up of an estate.
“There are huge sums involved in lost and dormant legacies, with an estimated £50bn held by financial institutions in unclaimed or lost assets. Perane has recovered and distributed £20m so far, with more funds being identified all the time.
“Our pioneering software enables us to search previously inaccessible databases showing deceased share and pension ownership. To date, we have identified more than £2m left to charitable organisations and we work hard to repatriate unclaimed assets to the charities they were left to.
“We’re always happy to talk to all charities and executors to see if we can facilitate the speedy disbursement of these funds to the organisations they were left to.”
If you’d like to know more about Perane, visit our website at https://perane.co.uk/ or call us on 01603 673260.
Stuart Bowen is living proof that dreams really do come true for those dedicated to developing their skills and career.
The former Llandrindod Wells student is now the globetrotting technical director of a Mid Wales company which is making waves in the luxury yacht market.
Stuart, 43 and managing director Jack Miller head up Custom Marine Developments (CMD) which provides bespoke engineering solutions for clients in the very high end of the luxury marine market.
With a workforce of 17, the company is based on Abermule Business Park, a few miles from Newtown, where parent company Makefast has its headquarters. Makefast has celebrated its 50th birthday this year.
CMD was launched in 2020 to provide custom products for superyachts, their tenders and dayboats. Bespoke products range from door and window systems, sun awnings and sliding roofs to automated anchor launchers.
The company’s design team works with many of the world’s leading superyacht builders, design houses and management services to provide innovative solutions for new build and retro fit projects.
CMD’s installation team travels the world to install products on superyachts and tenders, which are often a mini replica of the ‘mothership’.
Stuart’s exciting and challenging job is a far cry from doing an Advanced GNVQ in mechanical engineering course at Coleg Powys, the forerunner to NPTC Group of Colleges, as a teenager.
The course led to a place on a Shared Apprenticeship Scheme in 2001 when he first met Makefast, whose owner Bill Brown was also the scheme chairman.
Stuart made such a good impression that he was offered a permanent job in the design team at Makefast, which designs and manufactures equipment for the marine and safety industries.
He spent 16 years with Makefast before he and Jack persuaded Bill to let them launch CMD to fill a gap in the luxury yacht market for customised products. The initial team of five has expanded to 17.
“We are unique in the UK with the specialised services we provide,” explained Stuart. “It’s a really creative environment which is always challenging, with no two days the same.
“We are working with several of the world’s leading superyacht and tender builders. The boats we work on tend to spend the winter in the Caribbean and the summer in the Mediterranean.
“It’s going to be another busy year with three or four big projects coming through and these types of projects can each take from a month to a year to get into production, depending on their complexity. Our ambition is to grow the business and team as much as possible.”
Having benefited from an apprenticeship, Stuart says its rewarding to see CMD now employing two apprentices, with plans to add another with an electrical engineering focus later this year. Current apprentices would like to progress to Degree Apprenticeships to further their knowledge and skills.
“Apprenticeships are very beneficial because you learn in a dynamic work environment much more quickly than going to university,” added Stuart. “With CMD and Makefast, you also get opportunities to travel the world and meet people of different cultures in a work environment
“My advice to this year’s school leavers is to seriously consider the apprenticeship option with a good company. Makefast is a family-run business which has been so supportive to me and it’s a great place to work, with apprenticeship opportunities.”
The Martech Weekly (TMW) and Alium have formed a strategic partnership to disrupt traditional market intelligence research methods and transform the Martech decision-making landscape
Wednesday, 26 June 2024, The Martech Weekly (TMW), a global leader in Martech news, has today officially announced its partnership with Alium, a New York-headquartered buyer intelligence platform that shares what end-users are really saying about enterprise tech.
Globally, spending is big on shiny new marketing tech, navigating the minefield of 14,000-plus solutions. Indeed, many martech decision-makers have rushed into ill-advised and expensive purchases, fearing their business was at imminent risk of being outcompeted by earlier-adopting competitors.
Sensibly, CMOs and executives typically seek expert advice before making a significant Martech investment. But that ‘expert advice’ is frequently of questionable provenance and reliability.
Meanwhile, the data around the worryingly low utilisation of Martech suggests that something is going wrong somewhere along the line.
This is where prominent tech-industry players Alium and TMW have spotted a gap in the market. Their new joint venture will provide reassuringly transparent market intelligence. Market intelligence that prioritises providing honest customer reviews to those charged with making high-stakes purchasing decisions.
Introducing the new generation of market intelligence disruptors
Juan Mendoza is an Australian entrepreneur based in Melbourne. He worked for The Lumery, Conversionry and Fusion MusicTech before starting a marketing and technology newsletter at the height of the Covid lockdowns. Four years on, The Martech Weekly (TMW) is a fast-growing company whose content is avidly consumed by senior figures at some of the world’s largest media, technology, consulting, advertising and research companies. (Think Google, Facebook, The New York Times and many major global consulting brands.) TMW has an increasingly global presence, with customers and subscribers in over 65 countries.
Jonathan Sherry is a seasoned entrepreneur based in New York. In 2008, he co-founded CB Insights. Over the course of his 11+ years as its COO, he built and led the company to become the venture capital industry’s preeminent source of research and intelligence. In 2022, Sherry launched Alium, a buyer intelligence platform providing unfiltered access to what buyers are saying about enterprise tech. Alium is backed by Greycroft and Primary Venture Partners.
The introductory email that sparked a promising enterprise
Both Mendoza and Sherry believe the market-intelligence behemoths are torn between conflicting financial incentives.
Mendoza explains the venture was born out of a long-simmering frustration with the status quo. “What have CMOs who want a worthwhile insight into the capacities and performance of a marketing technology typically done?” he asks.
“Maybe they pay a consultant $50,000 to take responsibility for the decision. Perhaps they just buy from a brand in the upper right quadrant, believing they’ll never get fired for doing that. Whatever is happening, it’s not working. Until relatively recently, businesses were spending ever more on Martech but then failing to make much use of it. Inevitably, companies have now reacted by reducing their spend on Martech. That’s understandable, but short-sighted.”
After Mendoza published an essay highlighting, yet again, the unsatisfactoriness of the current arrangements, Sherry emailed him out of the blue. First, an online friendship and then a business plan was born.
“Like Juan, I’ve long had issues with the established players,” Sherry adds. “They clip the ticket at various points, taking money from both tech buyers and sellers. This leads to conflicting incentives, which degrades the quality of the analysis they provide.”
What the future looks like
Mendoza and Sherry have concluded the $50 billion technology research industry is ripe for disruption. Both have runs on the board, so it would be risky for complacent incumbents to assume they have little to fear.
With negotiations now finalised, Mendoza and Sherry are excited to announce their new joint venture. Here’s some further information on how the TMW-Alium tie-up will function.
Alium, a new entrant into the buyer intelligence space, interviews experts with first-hand experience purchasing, implementing, and using marketing technology. Alium compiles this data to provide unparalleled insights into the strengths, weaknesses and opportunities of various marketing technologies from the people whose opinions matter the most: practitioners.
TMW keeps busy marketing technology leaders ahead of the industry with their Wednesday Martech briefing and in-depth Sunday essays. Additionally, TMW identifies the most promising and innovative marketing technologies each year with the TMW 100, ranking the 100 most innovative marketing technologies globally from 1st to 100th place, decided by the marketing technology community and a panel of nine global experts.
From July 1, Alium and TMW will join forces to bring greater clarity to how marketing technology is being used, bought and sold. This will give marketing-industry executives an unprecedented, long-overdue understanding of which Martech tools are worth the outlay.
“We’ve settled on the slogan, ‘Transforming the Martech decision-making landscape’, ” Mendoza says.
“And that’s exactly what we’re about to do,” adds Sherry.
The Martech Weekly (TMW) is a media company that creates content consumed by leading marketing and technology executives in more than 65 countries. TMW also hosts the TMW 100, an industry-first awards program recognising the most innovative marketing tech companies from 1st to 100th place globally.
Alium optimises enterprise technology purchasing for buyers and sellers through actionable zero-party intelligence that is shared by both parties. Buyers leverage Alium to discover, select and evaluate vendors that meet their needs. Vendors use Alium to drive transparent, measurable ROI for their go-to-market teams. We help sales teams source and close more deals. We help customer success teams avoid churn and drive upsell. We help marketers optimise ad spend and unlock competitive intel. Alium is backed by Primary and Greycroft, and is built by the team that founded CB Insights.
In a move to enhance its advisor network, Swansea Building Society has partnered with Finance Advice Club (FAC), a distinguished whole-of-market network specialising in Mortgages, Loans, and Protection. Through this partnership, Swansea Building Society will now process mortgage applications from advisors linked to FAC, expanding the financial options and expert advice available to its clients.
This partnership strengthens Swansea Building Society’s position in the market and reinforces its dedication to delivering exceptional service and support to customers. Dedicated to prioritising client needs and delivering exceptional service, Finance Advice Club brings a wealth of expertise and resources to the collaboration.
With a strong emphasis on compliance and training, Finance Advice Club offers full compliance support to all advisors and appointed representatives, ensuring a safe and worry-free environment for all stakeholders. Extensive and in-depth training provided by FAC equips advisors to deliver the best possible service to clients while continuously improving themselves professionally.
Established in 1923, Swansea Building Society – with offices in Swansea, Mumbles, Carmarthen and Cowbridge – is one of only three remaining mutual building societies in Wales and the only one with its headquarters in South West Wales. The Society’s latest figures have shown it achieved record double digit growth in its total assets, mortgages, savings and capital. As of December 31, 2023, it had total assets in excess of £607 million.
Richard Miles, Swansea Building Society’s Head of Savings & Marketing / Area Manager East, said:
“We are delighted to join forces with Finance Advice Club to extend our reach and better serve our customers. This collaboration aligns with our commitment to providing tailored financial solutions and exceptional service. By partnering with FAC, we can broaden our network of advisors and offer our customers even greater choice and convenience.”
Matt Cassar, Managing Director of Finance Advice Group, added:
“We are thrilled to welcome Swansea Building Society to our network of trusted partners. This collaboration represents a fantastic opportunity for both parties to leverage their strengths and deliver enhanced value to clients. By working together, we can provide advisors with access to a diverse range of mortgage, loan, and protection products, empowering them to better meet the evolving needs of their customers.”
Investment in the UK has fallen behind the rest of the G7 countries since the 1990s, according to new research from the Institute for Public Policy Research (IPPR).
Ahead of planned potential cuts from the Conservatives or Labour candidates, should they be elected on July 4th, the IPPR urged the incoming government to rethink its approach to investment in the UK to avoid falling further behind.
The IPPR called for the next government to ‘lead from the front by designing and delivering high-quality public investments to crowd in public sector funds.’
Analysis from the think tank revealed that the UK ranked last in G7 investment in 24 of the past 30 years, based on data from the Organisation for Economic Co-operation and Development (OECD).
The lack of spending by UK companies on technology and innovation over the last three decades is a major factor in this underperformance, with public sector investment also ranked below the G7 average.
Technology tycoon Libero Rapsa, Director of adesso UK, commented: “Investment should be the cornerstone of innovation and a thriving economy, so the IPPR’s research indicating that the UK is lagging in this area is concerning. Technology, particularly AI, should be central to enhancing efficiency, and investment is crucial for successful tech projects that boost productivity and growth nationwide.”
Meanwhile, Michael Thornton, senior director, public sector at Investigo, part of The IN Group, said: “Potential investment cuts, against the backdrop of the UK lagging behind the G7, is a concerning sight for UK public services and economic growth. Public services continue to lag behind the European market and do not appear to provide a good return on an all-time high taxation burden, so the incoming government must put a clear focus on improving public sector efficiency, especially if cuts are due.”
“Staffing is a good starting point for the incoming government to boost the efficiency and productivity of public services, taking a smarter approach to interim versus consultancy staff. A sizable portion of public sector work is carried out on a project basis, requiring specialised skill sets. By taking a more intelligent approach and focusing more on the right skills and staff for each project, departments can streamline the delivery of services while also keeping costs down.”
Overall, IPPR analysis reveals that the UK ranked 28th out of 31 OECD countries for business investment, with Slovenia, Latvia and Hungary attracting higher levels relative to their economics.
Among OECD countries, only Greece, Luxembourg and Poland ranked lower than the UK for business investment during the past three years.
The travel duo join forces to upgrade passengers’ journeys from home to destination.
Veezu, the UK’s largest and fastest-growing private hire taxi technology platform, and Seatfrog, the rail ticketing app revolutionising train travel are excited to announce a strategic partnership to end the anxiety with trains and taxis.
From today, Seatfrog’s cutting-edge technology will be connected to Veezu’s extensive vehicle network, taking passengers from their home straight to the best seats on trains and then directly into a Veezu car on arrival at the best price available.
The partnership will eliminate the headache many passengers face across the UK, waiting in endless taxi queues or missing taxis because their train is running late, by connecting train journeys and taxi network data for the first time. Passengers’ rides will automatically connect to their rail departure and arrival times, so they can step out of the train station straight into their waiting Veezu ride.
Veezu passengers will also be able to easily upgrade their train tickets to first class on the way to the station, from as little as £13 – with Seatfrog’s unique app features, where Brits have saved over £80 million on first class upgrades.
Nathan Bowles, CEO of Veezu, commented, “Partnering with Seatfrog is an exciting step towards redefining travel in key UK cities. Together, we’re going to make it easier than ever for passengers to enjoy an integrated journey and sit in the best seats on the train.”
Seatfrog’s CEO, Iain Griffin, added, “Journeys should be easy, but in the UK, we’re constantly reminded that we’re mere mortals every time we jump off a train to catch a taxi – long queues, no vehicles available, surge pricing, stress. No one has seamlessly connected taxis to train journeys, changing that is long overdue.”
A new, high-end tattoo studio will open its doors for the first time this weekend in Pontardawe, offering a boost to the town.
Emerald Tattoo Emporium will open its doors in what is a well-known building in the town at 6 James Street. The site was previously the home of West Wales Gun Co, which traded from the premises from 1969 for some 50 years.
The new studio has been launched by experienced tattooist Sam Fisher and will complement his existing studio, Emerald Tattoo Company based in Talbot Green, Pontyclun.
Emerald Tattoo Emporium will hold an open day on Saturday June 8, starting at 12 noon. Anyone is welcome to pop in and chat with Sam and other artists.
Sam Fisher said:
“We are very excited to be launching a second studio in what is a thriving town in Pontardawe. When I first moved to the area a year ago, this amazing building caught my attention as a perfect location for a tattoo studio. I was lucky that it became available, and we are delighted to be launching this weekend.
“Anyone is welcome to pop by for a chat and a drink. We are happy to discuss any concepts around tattoos or art, or simply chat about the history of the building.”
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