Retailing in the UK – Market Summary & Forecasts; Comprehensive overview of the market, consumer, and competitive context, with retail sales value and forecasts to 2019
Summary
The UK became fifth largest economy in the world by surpassing France in 2014 and it is also the second largest economy in Europe. Retail sales in UK were anaemic in 2009 due to the global financial crisis and recorded signs of growth since 2010. Online sector has seen a significant growth in the past five years and has doubled its market share as more and more customers are relying on online for their purchases. Consumers’ spending is one of the factors driving UK’s economy and retail sector accounts for approximately 6% of the economy. The retail sales in UK stand at GBP 306 billion in 2014 and is forecasted to reach GBP 346 billion by 2019.
Key Findings
The UK became the fifth largest economy of the world by surpassing France in 2014 and it’s also the second largest economy in Europe.
Consumers’ spending is one of the factors driving UK’s economy and retail sector accounts for approximately 6% of the economy.
A robust internet infrastructure and high internet penetration, increasingly at fast broadband speeds, have been driving the UK online retail market.
Chinese visitors remain as the major contributors to the UK’s retail market.
The increasing popularity of shopping through mobile devices has led to an increase in the share of m-commerce towards total e-commerce sales in the UK.
Online sales of food and grocery have superseded sales growth through the offline channel, as more consumers shopped for groceries online
Growth in clothing and footwear segments is fueled by the consumers’ expectations for a continuous up gradation in product offerings
The electronic and electricals market is going to witness sluggish growth over the forecast period as consumers continue to postpone their big ticket purchases.
A deeper housing market recovery and the governments “Help to Buy‟ scheme, to increase home ownership, will act as a catalyst for home and garden product sales.
Synopsis
“Retailing in the UK – Market Summary & Forecasts, 2014–2019” provides data for historic and forecast retail sales, and also includes information on the business environment and country risk related to the UK’s retail environment. In addition, it analyses the key consumer trends influencing the UK’s retail industry.
What else does this report offer?
In-depth analysis of the latest trends in consumer shopping, covering the factors driving shopping, consumer insights, market dynamics (covering 26 product categories), and reviews of the latest best practice in online retail site design
Market insights based on consumer trends, changing economic and demographic factors, technology innovations and other macroeconomic factors.
Retail sales and fastest-growing product categories that includes Clothing; Footwear; Books, News and Stationery; Electrical and Electronics; Food and Grocery; Health and Beauty; Furniture and Floor Coverings; Home and Garden Products; Music, Video and Entertainment Software; Sports and Leisure Equipment; Jewelry, Watches and Accessories; Luggage and Leather Goods
Qualitative and quantitative insights of changing retail dynamics across various channels
Reasons To Buy
Gain a comprehensive knowledge on 26 products across 12 product sectors in the UK’s retail market and develop a competitive advantage around consumer behaviour trends from the start of your supply chain
Explore novel opportunities that will allow you to align your product offerings and strategies to meet demand by analyzing the vital economic and population trends, key consumer and technology trends influencing the retail market
Investigate current and forecast behaviour trends in each category to identify the best opportunities to exploit
Analyze the recommended actions to align your marketing strategies with the crucial trends influencing the consumer behavior
Understand the fastest growing categories in the market with insights on performance of individual product categories, across key channels from 2009, with forecasts until 2019
Analysis of key international and domestic players operating in the UK’s retail market – including store counts and revenues that give you a competitive edge - identify opportunities to improve your market share
- 1 Introduction
- 1.1 What is this Report About?
- 2 Executive Summary & Outlook
- 3 Market Context
- 3.1 UK’s economy takes a deep lurch due to Global recession
- 3.1.1 UK economy saw a nascent recovery after global financial crisis
- 3.1.2 Uncertain economic conditions led to a surge in savings rate
- 3.1.3 Service sector remains the dominant sector for employment
- 3.1.4 UK’s unemployment rate falls to a record low
- 3.1.5 Inflation rate is down to a decade low
- 3.1.6 Consumer spending is one of the main drivers for the UK’s recovery
- 3.2 Britain registers a strong population growth in Europe
- 4 UK Shoppers
- 4.1 Click-and-collect services gained popularity among UK shoppers
- 4.2 Online retailing on special days such as Black Friday, Cyber Monday, and Manic Monday have witnessed record-breaking sales
- 4.3 Price sensitive consumers drive Private-label sales in UK
- 4.4 Social media effects the purchasing decisions of UK consumers
- 4.5 Chinese tourists boost retail sales in UK
- 5 Doing Business in UK
- 5.1 Summary
- 5.1.1 Bureaucracy
- 5.1.2 Business culture
- 5.1.3 Geography
- 5.1.4 Infrastructure and logistics
- 5.2 Taxation in the UK
- 5.2.1 Corporate tax
- 5.2.2 Withholding tax
- 5.3 Trading Hours Law for Retailers
- 5.4 Data Protection Law requires Organizations to Respond
- 5.5 Accepting Returns and Giving Refunds: the Law
- 6 Internet &Technology
- 6.1 Internet users rise as more people access the internet through smartphones
- 6.2 Broadband infrastructure to improve, driven by government investments
- 6.3 Mobile devices will account for a larger share of online retailing in the future
- 6.4 Technology Trends
- 6.4.1 Waitrose introduced interactive touch screen customer experience kiosks
- 6.4.2 Argos offers digital receipts to its customers for counter purchases
- 6.4.3 Marks & Spencer deploys on-line-in-store interactive self-service terminals
- 7 Retail Topline
- 7.1 Total Retail
- 7.1.1 Online Sales & Growth
- 7.2 Summary of product sectors
- 7.2.1 Share of key product sectors
- 7.2.2 Key product sectors
- 7.3 Summary of channels
- 7.3.1 Spend per Channel
- 7.3.2 Online Penetration of Key Product Sectors
- 8 Retail – Product Sectors
- 8.1 Product Sector Analysis
- 8.1.1 Clothing
- 8.1.2 Footwear
- 8.1.3 Books, News and Stationery
- 8.1.4 Electrical and Electronics
- 8.1.5 Food and Grocery
- 8.1.6 Health and Beauty
- 8.1.7 Furniture and Floor Coverings
- 8.1.8 Home and Garden Products
- 8.1.9 Music, Video and Entertainment Software
- 8.1.10 Sports and Leisure Equipment
- 8.1.11 Jewelry, Watches and Accessories
- 8.1.12 Luggage and Leather Goods
- 9 Retailers
- 9.1 Clothing
- 9.2 Footwear
- 9.3 Books, News and Stationery
- 9.4 Electrical and Electronics
- 9.5 Food and Grocery
- 9.6 Health and Beauty
- 9.7 Furniture and Floor Coverings
- 9.8 Home and Garden Products
- 9.9 Music, Video and Entertainment Software
- 9.1 Sports & Leisure Equipment
- 9.11 Jewellery, Watches and Accessories
- 9.12 Luggage and Leather Goods
- 10 Appendix
- 10.1 Definitions
- 10.1.1 This report provides 2014 actual sales; while forecasts are provided for 2014 – 2019
- 10.2 Summary Methodology
- 10.2.1 Overview
- 10.2.2 The triangulated market sizing method
- 10.2.3 Industry surveys in the creation of retail market data
- 10.2.4 Quality control and standardized processes
- 10.3 About Conlumino
- 10.4 Disclaimer
- List of Tables
- Table 1: UK Clothing Retail Sales (GBP million), by Product Sub-Category, 2009–2014
- Table 2: UK Clothing Retail Sales (GBP million), by Product Sub-Category, 2014–2019
- Table 3: UK Footwear Retail Sales (GBP million), by Product Sub-Category, 2009–2014
- Table 4: UK Footwear Retail Sales (GBP million), by Product Sub-Category, 2014–2019
- Table 5: Major Domestic Retailers in the UK
- Table 6: Major International Retailers in the UK
- Table 7: Key Clothing Retailers in the UK
- Table 8: Key Footwear Retailers in the UK
- Table 9: Key Books, News and Stationery Retailers in the UK
- Table 10: Key Electrical and Electronics Retailers in the UK
- Table 11: Key Food and Grocery Retailers in the UK
- Table 12: Key Personal Care Retailers in the UK
- Table 13: Key Furniture and Floor Coverings Retailers in the UK
- Table 14: Key Home and Garden Products Retailers in the UK
- Table 15: Key Music, Video and Entertainment Retailers in the UK
- Table 16: Key Sports & Leisure equipment Retailers in the UK
- Table 17: Key Jewelry, watches and accessories Retailers in the UK
- Table 18: Key Luggage and Leather Goods Retailers in the UK
- Table 19: UK Exchange Rate GBP–USD (Annual Average), 2009–2014
- Table 20: UK Exchange Rate GBP–USD (Annual Average), 2015–2019 Forecasts
- Table 21: Conlumino Retail Channel Definitions
- Table 22: Conlumino Retail Category Definitions
- List of Figures
- Figure 1: GDP Value (US$ billion), 2008–2014E
- Figure 2: Growth Rate of GDP (US$ billion, %), 2008–2014E
- Figure 3: GDP Value and Growth (GBP billion, %), 2008–2014E
- Figure 4: Forecasts for GDP Value and Growth (GBP billion, %), 2014–2019
- Figure 5: Gross Domestic Savings Rate (% of Disposable Household Income), 2004–2014
- Figure 6: Share of Employment by Sector (%), 2004 and 2014E
- Figure 7: Unemployment Rate (%), 2004–2014E
- Figure 8: Inflation Rate (%), 2004–2014
- Figure 9: Household Consumption Expenditure in UK (GBP billion), 2004 and 2014E
- Figure 10: Household Consumption Expenditure of Major Countries (US$ billion), 2014E
- Figure 11: Rural and Urban Populations (millions) 2004, 2014, and 2019
- Figure 12: Total Population and Growth Rate (Millions, %), 2004–2019
- Figure 13: Population Split by Gender (%), 2014 and 2019
- Figure 14: Population Split by Age Group (%), 2014 and 2019
- Figure 15: Per Capita Spend on Retail (GBP), 2006 and 2014
- Figure 16: Per Capita Spend (GBP) and Total Retail Spend by Age Group (%), 2006 and 2014
- Figure 17: Click-and-collect services of retailers in the UK
- Figure 18: 2014 Black Friday and Cyber Monday E-commerce in the UK 2014
- Figure 19: Private label brands account for more than half of the UK grocery sales
- Figure 20: 2014 Popular Social Media sites in UK
- Figure 21: Chinese visitors in UK
- Figure 22: Total Number of Internet Users and Penetration (Millions, %), 2004–2014
- Figure 23: Total Number of Fixed Broadband Users and Penetration (Millions, %), 2004–2014
- Figure 24: Total Number of Mobile Phone Users and Penetration (Millions, %), 2004–2014
- Figure 25: Waitrose interactive touch screen kiosk
- Figure 26: Argos e-receipt for counter purchases
- Figure 27: Marks & Spencer’s polytouch self-service kiosks
- Figure 28: Retail Sales Value and Growth (GBP billion, %), 2005–2014
- Figure 29: Retail Sales as % of Total Consumer Spend (%), 2006 and 2014
- Figure 30: Total Retail Sales and Growth Rate (GBP billion, %), 2014 and 2019
- Figure 31: Online Sales and Growth Rate (GBP billion, %) 2014–2019
- Figure 32: Share of Key Product Sectors (%), 2014 and 2019
- Figure 33: Growth Rate of Key Product Sectors vs. Growth of Total Retail (%), 2014–2019
- Figure 34: Value Growth of Key Product Sectors (GBP billion), 2014–2019
- Figure 35: Spend Per Channel, 2014 and 2019
- Figure 36: Online Penetration of Key Product Sectors (%), 2014
- Figure 37: Online Penetration of Key Product Sectors (%), 2019
- Figure 38: Share of Clothing in overall Retail 2014 and 2019
- Figure 39: Retail Sales Value and Growth (GBP billion, %) of Clothing 2014–2019
- Figure 40: Spend per Head on Clothing 2014 and 2019
- Figure 41: Share of Clothing by Womenswear, Menswear and Childrenswear 2014 and 2019
- Figure 42: Womenswear Sales Value and Growth (GBP billion, %) 2014–2019
- Figure 43: Menswear Sales Value and Growth (GBP billion, %) 2014–2019
- Figure 44: Childrenswear Sales Value and Growth (GBP billion, %), 2014–2019
- Figure 45: Online Spend in Clothing and Growth (GBP billion, %), 2014–2019
- Figure 46: Online Share of Total Clothing Spend 2014 and 2019
- Figure 47: Spending per Channel in Clothing (%) 2014 and 2019
- Figure 48: Share of Footwear in Total Retail Sales, 2014 and 2019
- Figure 49: Retail Sales Value and Growth (GBP billion, %) of Footwear, 2014–2019
- Figure 50: Spend per Head on Footwear, 2014 and 2019
- Figure 51: Share of Footwear by Women’s Footwear, Men’s Footwear and Children’s Footwear 2014 and 2019
- Figure 52: Women’s Footwear Sales Value and Growth (GBP billion, %), 2014–2019
- Figure 53: Men’s Footwear Sales Value and Growth (GBP billion, %), 2014–2019
- Figure 54: Children’s Footwear Sales Value and Growth (GBP billion, %), 2014–2019
- Figure 55: Online Spend in Footwear and Growth (GBP billion, %), 2014–2019
- Figure 56: Online Share of Total Footwear Spend, 2014 and 2019
- Figure 57: Spending per Channel in Footwear (%) 2014 and 2019
- Figure 58: Share of Books, News and Stationery in overall Retail, 2014 and 2019
- Figure 59: Retail Sales Value and Growth (GBP billion, %) of Books, News and Stationery, 2014–2019
- Figure 60: Spend per Head on Books, News and Stationery, 2014 and 2019
- Figure 61: Online Spend in Books, News and Stationery and Growth (GBP billion, %), 2014–2019
- Figure 62: Online Share of total Books, News and stationery Spend, 2014 and 2019
- Figure 63: Spending per Channel in Books, News and stationery (%) 2014 and 2019
- Figure 64: Share of Electrical and Electronics in Total Retail Sales, 2014 and 2019
- Figure 65: Retail Sales Value and Growth (GBP billion, %) of Electrical and Electronics, 2014–2019
- Figure 66: Spend per Head on Electrical and Electronics, 2014 and 2019
- Figure 67: Online Spend in Electrical and Electronics and Growth (GBP billion, %), 2014–2019
- Figure 68: Online Share of total Electrical and Electronics Spend, 2014 and 2019
- Figure 69: Spending per Channel in Electrical and Electronics (%) 2014 and 2019
- Figure 70: Share of Food and Grocery in Total Retail Sales, 2014 and 2019
- Figure 71: Retail Sales Value and Growth (GBP billion, %) of Food and Grocery, 2014–2019
- Figure 72: Spend per Head on Food and Grocery, 2014 and 2019
- Figure 73: Online Spend in Food and Grocery (GBP billion, %) 2014–2019
- Figure 74: Online Share of total Food and Grocery Spend, 2014 and 2019
- Figure 75: Spending per Channel in Food and Grocery (%), 2014 and 2019
- Figure 76: Share of Health and Beauty in Total Retail Sales, 2014 and 2019
- Figure 77: Retail Sales Value and Growth (GBP billion, %) of Health and beauty, 2014–2019
- Figure 78: Spend per Head on Health and beauty, 2014 and 2019
- Figure 79: Online Spend and Growth (GBP billion, %)in Health and beauty, 2014–2019
- Figure 80: Online Share of total Health and beauty Spend, 2014 and 2019
- Figure 81: Spending per Channel in Health and beauty (%) 2014 and 2019
- Figure 82: Share of Furniture and Floor Coverings in Total Retail Sales, 2014 and 2019
- Figure 83: Retail Sales Value and Growth (GBP billion, %) of Furniture and Floor Coverings, 2014–2019
- Figure 84: Spend per Head on Furniture and Floor Coverings, 2014 and 2019
- Figure 85: Online Spend and Growth (GBP billion, %)in Furniture and Floor Coverings, 2014–2019
- Figure 86: Online Share of total Furniture and Floor Coverings Spend, 2014 and 2019
- Figure 87: Spending per Channel in Furniture and Floor Coverings (%), 2014 and 2019
- Figure 88: Share of Home and Garden Products in Total Retail Sales, 2014 and 2019
- Figure 89: Retail Sales Value and Growth (GBP billion, %) of Home and Garden Products 2014–2019
- Figure 90: Spend per Head on Home and Garden Products, 2014 and 2019
- Figure 91: Online Spend and Growth (GBP billion, %) in Home and Garden Products, 2014–2019
- Figure 92: Online Share of total Home and Garden Products Spend, 2014 and 2019
- Figure 93: Spending per Channel in Home and Garden Products (%), 2014 and 2019
- Figure 94: Share of Music, Video and Entertainment Software in Total Retail Sales, 2014 and 2019
- Figure 95: Retail Sales Value and Growth (GBP billion, %) of Music, Video and Entertainment Software, 2014–2019
- Figure 96: Spend per Head on Music, Video and Entertainment Software, 2014 and 2019
- Figure 97: Online Spend and Growth (GBP billion, %)in Music, Video and Entertainment Software, 2014–2019
- Figure 98: Online Share of total Music, Video and Entertainment Software Spend 2014 and 2019
- Figure 99: Spending per Channel in Music, Video and Entertainment Software (%), 2014 and 2019
- Figure 100: Share of Sports and Leisure Equipment in Total Retail Sales, 2014 and 2019
- Figure 101: Retail Sales Value and Growth (GBP billion, %) of Sports and Leisure Equipment, 2014–2019
- Figure 102: Spend per Head on Sports and Leisure Equipment, 2014 and 2019
- Figure 103: Online Spend and Growth (GBP billion, %) in Sports and Leisure Equipment, 2014–2019
- Figure 104: Online Share of Total Sports and Leisure Equipment Spend, 2014 and 2019
- Figure 105: Spending per Channel in Sports and Leisure Equipment (%), 2014 and 2019
- Figure 106: Share of Jewelry, Watches and Accessories in Total Retail Sales, 2014 and 2019
- Figure 107: Retail Sales Value and Growth (GBP billion, %) of Jewelry, Watches and Accessories, 2014–2019
- Figure 108: Spend per Head on Jewelry, Watches and Accessories, 2014 and 2019
- Figure 109: Online Spend and Growth (GBP billion, %) in Jewelry, Watches and Accessories, 2014–2019
- Figure 110: Online Share of total Jewelry, Watches and Accessories Spend, 2014 and 2019
- Figure 111: Spending per Channel in Jewelry, Watches and Accessories (%), 2014 and 2019
- Figure 112: Share of Luggage and Leather Goods in Total Retail Sales, 2014 and 2019
- Figure 113: Retail Sales Value and Growth (GBP billion, %) of Luggage and Leather Goods, 2014–2019
- Figure 114: Spend per Head on Luggage and Leather Goods 2014 and 2019
- Figure 115: Online Spend and Growth (GBP billion, %) in Luggage and Leather Goods, 2014–2019
- Figure 116: Online Share of total Luggage and Leather Goods Spend, 2014 and 2019
- Figure 117: Spending per Channel in Luggage and Leather Goods (%), 2014 and 2019
- Figure 118: The Triangulated Market Sizing Methodology
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