NIPS

THE MARKET

The total industry revenue in 2013 was an estimated £43bn, with 

residential construction industry experiencing the greatest future 

growth potential. Within the industry, the barriers to entry for 

individual contractors are relatively small, creating a highly 

competitive environment that grants consumers power. There are 

few substitutes to hiring a residential construction contractor, 

particularly for highly skilled work, but the competitive 

environment makes contractors seek out all mediums for leads.

The competitive landscape that was exacerbated by the recession has created a need for contractors to 

efficiently and effectively close leads. Sending a contractor to assess a project in attempt to close leads is 

only effective if no other contractors are doing the exact same thing. This creates a challenge for 

consumers that must meet contractors, receive quotes and conduct screening. NIPS can significantly 

reduce this consumer risk and time commitments to finding and screening contractors and suppliers. By 

doing this, it generates leads of consumers in the search phases and closes them on the website for both 

suppliers and contractors.

In the year 2013, user experience is seen as an investment area to drive future revenue. Additionally, 

securing methods for reducing shopping cart abandonment rates are key areas of focus for companies 

during the year. Smart Tech will focus on creating a competitive user experience that conveys a 

trustworthy business platform and continuously strive to reduce the shopping cart abandonment rates 

through consultation of web experts. Extremely fast shipping options such as same day shipping is being 

tested by many large corporate retailers. Smart Tech will offer fast distribution options and may, with 

dense demand, such as high demand in target cities, may offer same day fulfillment with a strategic 

partnership. 

Residential construction growth has declined since the recession, but has recently been increasing its 

growth at a rapid pace. A recent article in Reuters presented that the construction industry activity 

increased to its highest levels in three years on July of 2013. This growth was directed from the residential 

construction industry. The industry from 2009-2013 has annual growth of 0.7%, according to IBIS world, 

however, this growth is expected to accelerate this year and in subsequent years. The overall lack of new 

construction post-recession creates an immediate competition for clients to covert contractors, but 

shortly later result in an increased consumer demand. 

MARKET NEEDS

MARKET TRENDS 

MARKET GROWTH

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[email protected]

435 765 8799

www.nips.com