B&Q has seen rocketing demand for energy-saving products and customers expect retailers to help them bring down their bills, writes chief executive Graham Bell

Retailers are undoubtedly operating in an ongoing challenging environment, with consumers facing the challenges of the increased cost of living against the backdrop of a looming recession. 

As a nation, we have shown considerable resilience and agility over the last few years, flexing our lives to the changes we face. While we’re continuing to embrace hybrid working, we’re also adapting and improving the way we live in our homes. 

As we enter the colder months with unprecedented energy price rises, consumers have been making changes to increase their homes’ energy efficiency, using less energy and making them more sustainable. 

“We need widespread support to use less energy in the long term”

While it is promising that the government has acted in helping households reduce their energy bills – and announced a further £6bn of future measures for insulation and energy efficiency in last week’s autumn statement – it is clear that higher energy bills are not going away any time soon. 

Managing energy prices in the short term does not address the root cause of the issue – we need widespread support to use less energy in the long term. 

At B&Q, we have seen exceptional demand for certain energy-saving products, such as loft insulation rolls. However, only 45% of UK homes have sufficient loft insulation and two-thirds have an EPC rating of D or worse. This must change. 

The chancellor’s announcement of future measures to help households become more efficient in warming homes and heating water is a step towards a more effective policy than simply taking money off household energy bills.

However, the solution does not just sit with governments. Retailers can play a role too and, across categories, we are seeing a number of initiatives from launching new everyday value ranges – by Boots and the grocers, for example – to freezing prices on essential products. All of which are aimed at helping consumers to navigate the growing cost of living.

Customers also continue to prioritise ease and so, for retailers, making it as convenient as possible for customers to shop needs to remain a priority. 

We have acted to manage cost increases in our own way too, and have recently launched our Prices Nailed Down commitment, which saw us freeze prices for 100 of our most popular products for 100 days. That means customers can progress their home improvement projects as planned and at great value. 

“For retailers, making it as convenient as possible for customers to shop needs to remain a priority”

This month, we are launching our Energy Saving Service, where specially trained advisers talk customers through how they can save energy in their homes.

Starting with their EPC rating, we offer personalised advice on which home improvements will make the customer’s home more efficient, reducing their energy bills too. This is just one way in which we are making it more convenient and accessible for customers to get what they need. 

We know that retailers must make the process from needing something to getting it as easy as possible. Our annual A Slice of Home Life report highlighted that 63% of consumers are not as satisfied with their homes as they could be. 

What is more, three in four consumers are looking for home improvement projects to be faster and more affordable, while also expecting a frictionless retail experience – and it is the retailer’s job to meet those needs. 

“Improving homes makes life better and retailers have a role in helping people create better, safer places to live”

Our aim at B&Q is to make transforming the home easier than most people imagine. This mindset has driven us to embark on a renewed approach that ensures shopping at your local B&Q is more convenient than ever, providing customers with greater choice and accessibility by ensuring our focus stays on convenience and value alike. 

Improving homes makes life better and retailers have a role in helping people create better, safer places to live.

The retail sector continues to face a multitude of headwinds, from increasing costs and supply chain challenges to a recession. 

However, I believe that by focusing on value and convenience and helping consumers weather the cost-of-living storm, we are well-placed to meet consumer needs and deliver success for our businesses.