Page 12 - BOSS Today Issue 49

BOSS Today #49 SPECIAL REPORT

BOSS SOS

EXECUTIVE SUMMARY

Industry confidence took a hit in Q2 2020 but has bounced back in Q3

59% of survey respondents reported Demand And Supply Are The Main Over 80% of companies expect that
that their confidence in the general Operational Challenges Thrown-Up By sales staff will be ‘out on the road’ by
state of trade in the UK office supplies COVID-19 the end of the year; a similar proportion
industry worsened in Q2 (April to June). A sheer lack of demand is by some way the expect to be ready to allow external guests
However, the remaining 41% reported most critical operational issue magnified on their premises.
that their confidence had improved. All by COVID-19. There are also challenges on
things considered, confidence has held maintaining supply, both from imported For further details concerning this survey
up remarkably well – the overall balance and domestic sources. contact: Kyle Jardine,
(the difference between those reporting Economist, BOSS
an improvement and those reporting a Return To Office Is Gaining Momentum T 028 9002 0135
deterioration) was -18 for Q2. 87% of businesses expect to have at least E kyle@bossfederation.co.uk
Looking at the current quarter (Q3, 50% of their employees, who are currently Interested in sponsoring future
July to September) – 8% of respondents working from home, back in the office – BOSS research? Please get in touch.
have a reported a further deterioration in at least to some regular degree. www.bossfederation.com
confidence and 18% no change. That leaves
74% reporting that confidence in Q3 has
improved from Q2 levels. The forecasted
confidence balance for Q3 is therefore +66.
The quarterly balances reflect
the major economic impact of the COMING SOON
COVID-19 pandemic hitting in Q2, yet Summary Report covering:
the industry is benefiting from strong
underlying demand in certain sectors;
and a subsequent improvement in Q3. n Confidence in the general state of trade
However, the confidence forecast for Q3 n Current industry trends for: employment, sales, output, prices,
2020 is expected to remain at a lower costs, margins etc.
level that it was in Q3 2019. n Trends via channel: OP, high street retail, supermarkets, online etc
n Benchmark net profit ratio
Online Sales Have Soared n Pay review benchmarks
It is not a shock to report that sales levels n Top business concerns
via online channels have benefited greatly n COVID-19-related operational challenges
from the COVID-19 disruption. n Further matter related to the economic restart
n Brexit concerns
Lingering Economic Impact Of n Investment priorities for Government
COVID-19 Is The Top Business Concern
There is a very high level of concern within Background
the industry of the ongoing economic The BOSS SoS (State of Office Supplies) Survey was carried out online during
impact of COVID-19. The next two ranked 11-31 August 2020. The report is based on a specially constructed weighted
concerns are also related – late payment analysis of responses from BOSS Federation contacts – consisting of 63
by customers and the survival of major companies employing 4,895 people, with a combined turnover of over £1.3
customers. Brexit is the fifth ranked billion.
concern.

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