The pool and spa industry is ever-changing and 2023 is shaping up to be another eventful year. From product shortages to new innovations to evolving customer wants and needs, there are a lot of factors that can impact a pool and spa business in 2023. That’s why it’s so important to start preparing now to ensure a successful year in the pool and spa industry.
If you are in the pool and spa industry and are approaching the new year with some trepidation, here are a few things to consider so that you will be in a much better position for a successful year when 2023 rolls around.
Take Advantage of Current Pricing
There is no denying that the cost of practically everything has risen dramatically in the past two years. With costs for products up across the board and many businesses struggling to catch up, there is little reason to believe that prices will go down in 2023.
According to Pool Magazine citing statistics from the Associated General Contractors of America, concrete prices are up 11.6 percent from the beginning of 2021, lumber prices rose 79.5 percent between September 2021 and April 2022, steel is up 74.4 percent from the beginning of 2021, and PVC pipe increased by 36.9 percent from the start of 2021. And those are just a few of the numbers affecting this industry.
One of the most important things you can do to prepare for 2023 is to lock in your pricing now. Many suppliers are already starting to increase prices for next year, so if you wait to buy your products in 2023, you’ll likely have to pay more than you would if you bought them now. With ever-increasing material, fuel, and labor costs, manufacturers have no choice but to continue to boost prices for their products.
Many companies raise their prices at the start of each calendar year, meaning that those who buy early will benefit from greater savings. Doing so also reduces disruption for your customers/clients, as you will have supply already on hand. Your pool and spa manufacturer reps can provide advice on which items you should purchase now to get the best deals.
Buying before the start of the next year is the only guaranteed way of locking in current prices. Planning ahead for what your business is likely to need in the coming year and making your purchases now is a smart business decision.
Assess Your Product Lineup
Another important area to focus on is your product mix. As customer needs change and new technologies emerge, certain products move to the head of the pack. It’s important to make sure that you have the right mix of products so you can meet the needs of your customers. Try to stock quality items that stand the test of time and are backed by reputable manufacturers. This will help ensure customer satisfaction no matter what changes happen in the market.
To make sure you’re stocking the right products, review your sales from the current year and identify any items that are selling well. You can also talk to your pool and spa manufacturer reps for advice on which products have the best reputation for quality and innovation and what will be popular in 2023. Once you have a good idea of what people are looking for, you can start stocking up on these items.
Choose Quality Manufacturers
As pool and spa companies continue to produce hybrid products and new technologies hit the market, it’s important to make sure that you’re using/offering only high-quality pool and spa products in your business. Quality pool and spa products are high performing, innovative, and durable, giving customers more value for their money.
The best pool and spa manufacturers have a rigorous quality assurance process in place and use high-grade components that are designed to withstand the elements. When you invest in pool and spa products from established manufacturers, you can be confident that your customers are getting the highest quality pool and spa products available.
To maintain customer satisfaction and attract new business, it’s important to run leaner, stocking only quality pool and spa products, rather than a wide range of varying quality items. There are many product options available for pool and spa businesses, but not all of them offer the same level of quality or performance. By narrowing down your product selection to only include high-quality pool and spa products, you can help your business to run more smoothly and efficiently in 2023.
Make Smart Manufacturer Connections
Finally, it’s important to diversify your manufacturing sources so you’re not relying on just a handful of suppliers. Casting a wider net with manufacturers is especially important if you’re planning on offering new products in 2023.
By working with multiple manufacturers, you’ll be able to get the best possible products for your customers and have a backup plan if one of your suppliers has issues with their production process. This helps to ensure that you will have access to the products you need in 2023, allowing you to take advantage of all the opportunities available throughout the year.
Of course, you don’t have to do all of the legwork on your own. At Alpha West, we bridge the gap between pool and spa industry professionals and the industry’s top manufacturers. We only work with the best of the best in the pool and spa manufacturing industry so that our customers can have complete confidence in the products we represent. Teaming with our experienced team of pool and spa manufacturer representatives means that you have access to top-of-the-line products, in-depth knowledge and training, quality industry connections, and ongoing support.
As the year 2022 draws to a close, now is a great time for pool and spa industry professionals to start planning ahead for a successful 2023. Preparation at the end of this year helps ensure that businesses are ready and able to hit the ground running in the coming year. With the right preparations in place, pool and spa businesses can capitalize on the opportunities that come their way in 2023 for an even better year in business!
If you’d like to learn more about how we help pool and spa businesses grow and thrive, reach out to our team of experienced pool and spa manufacturer representatives at hello@alphawest.com.
