Going into the second half, we suspected the market conditions would be a bit tougher for natural stone and porcelain paving, and a slow-down might be on the cards. We weren’t wrong!

Quarter three started with the outcome of the general election, and while we had hoped for an uplift in the market once the new government was appointed, this didn’t happen. Labour wasted an opportunity to boost business and consumer confidence with their warnings of tough times ahead, and this affected our RMI customer base.

Many of the high-end landscapers we work with have had work put on hold as customers awaited the outcome of the Autumn budget statement. Now the budget is out, people know the impact the changes will have on their finances, and there will be many more customers choosing to keep money in the bank while the interest rates are still high rather than spend on garden improvements in the short term, at least.

That said, there was one positive from Q3 – the turnaround in shipping prices. A drop in global demand meant that container prices have fallen sharply and as a result, Indian porcelain and sandstone have fallen in price too. To capitalise on low shipping prices, we are extending our range of products from India for 2025, and many of our merchant customers are placing large orders to stock up for the year ahead. It’s the right time to buy if you want to increase margins and encourage consumers with more budget-friendly options.

In terms of products, dark grey paving sales continue to decline both here and in Europe, with consumer tastes shifting towards neutral colours like cream, light grey and greige. Products to create unique features within an outdoor space, such as wall or step cladding and mosaic paving, are also trends to watch for 2024-25. Customers are increasingly looking for value for money too, so stocking products with different price points is really important to secure sales.

The market may be down now, but we believe that things will pick up next year, with a cracking pre-season in Q1 2025, and a return to a more buoyant RMI market in the spring.