LONDON, Aug. 23, 2017 /PRNewswire/ -- The UK Homewares Market 2017-2022
Summary
Homewares market is forecast to grow by just 0.4% in 2017, the slowest annual growth of any year over the last five years. Q1 2017 figures showed that the homewares market declined, with John Lewis, Dunelm, and Asda performing poorly at the start of 2017. Rising prices and falling real wage growth will endure through 2017, dampening consumer confidence and demand for non-essential items. Certain homewares sub-sectors will outperform in 2017, such as decorative accessories and home fragrances, benefiting from fewer people moving house, as customers improve their existing homes instead.
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Online homewares sales are forecast to rise from 2017 to five years' time. Online pureplay retailers Amazon, Shop-Direct-owned Very.co.uk, and Wayfair.co.uk will help drive online sales, especially as they invest in improving the convenience aspect of online shopping via shorter delivery times and lower delivery charges.
Instore experience, convenience and customer service have all risen in importance from 2016 to 2017 overall. Female consumers are more demanding than their male counterparts and found every store driver more important. 25-34 year-olds purchase homewares the most frequently and over-65s shop for homewares the least of all age groups. Young shoppers will be influenced by fast-changing interior trends, which fashion retailers can use to their advantage.
Multichannel retailers, such as Next and Tesco, have invested in their online offer through the launch of delivery saver schemes. IKEA is also now trialling click and collect in its order and collection point (OCP) stores; this should boost IKEA online sales, particularly if it is rolled out to all stores. However, many homewares retailers still do not offer transactional websites, including B&M, Flying Tiger Copenhagen, Lidl and Poundland.
The report "The UK Homewares Market 2017-2022" provides a detailed analysis of the homewares market, with value and volume forecast up to 2022. The report provides quantitative and qualitative analysis of the UK market, evaluating major trends, consumer attitudes and an in-depth analysis of key market players.
In depth, this report provides a comprehensive analysis of the following -
- Key issues in the market and success strategies
- Market sizing by category and growth forecasts
- In-depth profiling of major retailers including market share and outlooks
- Consumer analysis detailing how, where and why consumers are buying homewares
Companies mentioned in this report: Amazon, Argos, ASDA, B&M, Dunelm, IKEA, John Lewis, Sainsbury's, Shop Direct, Tesco, TK Maxx, The Range, Wilko
Scope
- Certain homewares sub-sectors will outperform in 2017, such as decorative accessories and home fragrances, benefiting from fewer people moving house, as customers improve their existing homes instead.
- Online pureplay retailers Amazon, Shop-Direct-owned Very.co.uk, and Wayfair.co.uk will help drive online sales, especially as they invest in improving the convenience aspect of online shopping via shorter delivery times and lower delivery charges.
- Instore experience, convenience and customer service have all risen in importance from 2016 to 2017 overall. Female consumers are more demanding than their male counterparts and found every store driver more important.
- General discounters B&M, The Range and now Poundland, which has recently launched a homewares range, are encroaching on grocers' share of the market. These retailers will support homewares market growth during a tough economic environment as consumers look to trade down.
Reasons to buy
- Utilise our five-year forecasts to 2022 for individual product categories to refocus your strategy on key areas of high growth.
- Review our analysis on key market issues and use our strategies to better compete in the current climate of economic uncertainty.
- Compare our analysis on major homewares retailers; enhance your understanding of their strengths and weaknesses and retailers' market share growth prospects.
- Recognise which consumers to target and how to attract them by utilising our shopper penetration data and understanding what influences their retailer selection and spending motivations.
Download the full report: https://www.reportbuyer.com/product/5068759/
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