NEW YORK, Oct. 22, 2015 /PRNewswire/ -- 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.
- 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- Online sales of food and grocery have superseded sales growth through the offline channel, as more consumers shopped for groceries online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.
"Retailing in the UK - Market Summary and 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
Read the full report: http://www.reportlinker.com/p03248783-summary/view-report.html
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