Bathroom accessories April 2016
The Bathroom accessories market in the UK whilst continuing to grow will underperform compared the rest of the Homewares market as consumers consider the bathroom less of a priority in terms of homeware spend. The market itself is increasingly becoming fragmented as a number of players have entered the market in the hopes of winning consumer spend, however, this has resulted in intense competition and subsequent deflation among the bottom end product ranges whilst bespoke and higher end retailers of bathroom accessories continue to keep their prices high to appeal to a demographic with a high disposable income subsequently leading to market polarisation. E-retail will enable retailers to expand their product ranges as bathroom accessories would require retailers to invest into increasing floor space which is a costly and option in a climate of high street decline.
- Bathroom Accessories spend boosted by fashion conscious consumers. High street retailers are looking to drive up spend with fashionable products in the hopes that this will spur impulse purchases. Retailers are targeting younger shoppers where fashion is a considered much more a concern being more likely to purchase a product that reflects their personality or a particular lifestyle.
- Replacement driven purchasing dominate volumes 85% of consumers declared that their prime motivation for purchasing bathroom accessories was necessity of replacement further underpinned by factors such as convenience and price sensitivity. The means would allow grocers to gain market share as they are the most widely accessible retailers.
- Mid-market players are losing share as the market becomes more polarised. Retailers are finding that Bathroom accessory purchases are becoming increasingly polarised as consumers purchase either high end or value goods. This has resulted in a large number of non-specialist value retailers especially grocers due to their range manoeuvrability looking to win spend from specialists by launching simple ranges that consist of the most popular trend led products in the bathroom accessories market.
- Convenience and broader product choice availability will encourage shoppers to buy online. The market has seen a significant portion of its expenditure moving to the online retail pace as retailers are finding that the costs needed to operate in the physical retail space no longer paramount to drawing in consumer spend. The costs saved from taking the retail operation out of the physical retail space can be passed onto the consumer or invested in making the product range.
“Bathroom accessories 2016”, a Trend Report by Verdict Retail, provides an executive-level overview of the UK bathroom accessories market today, with forecasts of values and volumes up to 2020. It delivers deep quantitative and qualitative insight into the bathroom accessories market, analyzing key trends in the market based on proprietary data from Verdict Retail’s aftermarket databases.It provides in-depth analysis of the following:
Reasons To Buy
- Market size and forecast; a look at the total market size and forecast size for bathroom accessories, with an overview regional analysis.
- Market value and forecast; a look at the total market value and forecast value for bathroom accessories, with an overview on consumer purchasing habits and retailer market shares.
- Summary of main influences; an overview on the factors driving the evolution of the bathroom accessories market.
- This Trend Report helps executives build proactive, profitable growth strategies by offering comprehensive, relevant analysis of the UK bathroom accessories market based on insights from within Verdict's team of analysts, consumer insight from our bespoke annual survey and interviews with industry experts.
- The report is designed for an executive-level audience, boasting presentation quality that allows it to be turned into presentable material immediately.
- The broad but detailed perspective will help manufacturers and retailers to understand and succeed in the challenging Bathroom accessories market.
- THE MARKET
- THE RETAILERS
- THE CONSUMER