The latest Monthly Construction Update from the Department for Business, Energy & Industrial Strategy (BEIS) features data from the Builders Merchant Building Index (BMBI). It’s a milestone for BMBI, achieving one of its main objectives in becoming a recognised index for construction by Government, economists, business and the media.
The BMBI is a brand of the Builders Merchants Federation, set up and produced by MRA Marketing using ‘gold standard data’ from GfK, one of the largest global insight agencies. In the BEIS Construction Update, the Index is highlighted alongside other recognised data providers, such as the Office of National Statistics, the Construction Products Association, IHS Markit, Experian and the Bank of England.
The BMBI is described as “the most reliable source of data for RMI, the UK repair, maintenance and improvement market”. It’s based on actual sales data from GFK’s ground-breaking Builders Merchants Panel, which analyses sales by value from over 80% of the country’s generalist builders’ merchants.
Reports are published monthly, with more in-depth analysis and insight quarterly. Fourteen leading industry experts speak for their markets, explaining trends and issues and adding insight and context to the data.
Mike Rigby, CEO of MRA Marketing, one of the founders of the BMBI, said: “We set up BMBI in 2015, firstly to fill a gap in UK RMI statistics, which were unreliable and based on crude estimates, and secondly to raise awareness and understanding of builders’ merchants and their suppliers throughout construction and beyond.
“Outside the industry, people don’t think of builders’ merchants or their suppliers, and when they do they don’t understand what they do or how important they are,” added Mike. “This lack of awareness holds the industry back, not least when trying to recruit the next generation. We created the Builders Merchant Building Index so the BMF could speak for the industry, explaining the importance of builders’ merchants, suppliers and our markets, and so individual BMBI Experts could speak for their markets and explain them. BMBI is a platform to influence and argue for what matters to the industry, and it’s a unique platform for building brands.
“With growing interest by the media, including a couple of paragraphs in the Sunday Times in February, this latest development is extending our reach and potential to influence.”
To download the latest BEIS Monthly Construction Update, or for the latest reports, Expert comments and Round Table videos, visit www.bmbi.co.uk