VAT and PAYE records from HM Revenue and Customs, compiled by The Furnishing Report, have revealed the number of flooring retailers with sales over £1m reached a record high in 2024.
The data shows 465 flooring retailers achieved over £1m in sales in 2024, up 8% from the previous year’s figure of 430. This increase was predictably felt most keenly in the £1-1.9m category, where there was a 15% jump, up to 315 total companies.
Additionally, The Furnishing Report notes, the data shows a marked increase in the ‘micro-flooring’ retail segment (companies with a turnover of £100,000-£249,000). This section of the market increased 15%, up to 1495 companies, with the jump reflecting both the success of many smaller companies and the comparatively weaker performance of larger ones.