Bumper March makes for a strong Q1 for Plumbing & Heating merchants

Driven by strong March sales, the latest Plumbing & Heating Merchant Index (PHMI) report, published in May, shows specialist plumbing & heating merchants’ Q1 2021 value sales improving year-on-year. The PHMI data is from GfK’s Plumbing & Heating Merchant Panel, which represents over 80% of Britain’s specialist plumbing & heating merchants’ sales.

Q1 2021 value sales of plumbing and heating products were 6.8% up on Q1 2020, with one less trading day this year. Sales in March 2021 were up 26.0% on March 2020, with one more trading day this year.

Comparisons with March last year are not especially informative as merchants were closing branches at the start of Lockdown 1 on the 24th of March. Consequently, year-on-year comparisons with that period show considerable gains, but with such volatility it’s difficult to assess the strength of recovery.

However, looking back two years and benchmarking 2021 against more normal trading in 2019, sales in the first quarter of 2021 were 3.5% higher than the same period in 2019, with no difference in trading days. March 2021 was 13.7% stronger than March 2019, with two more trading days this year. So, the recovery is strong.

The PHMI Index for Q1 2021 was 106.6, an improvement from 99.9 in Q1 2020.

To download the latest report visit www.phmi.co.uk.

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