Kitchen Storage, 2017

2017-05-05
Price :
Published : May-2017
No. of Pages : 86

Kitchen Storage, 2017

Summary

Kitchen storage will grow in line with the overall United Kingdom (UK) Homewares market in 2017 but will not keep pace to 2022. By volume, though, kitchen storage will outperform homewares to 2020, helped by customers wanting to cut spending, by preparing lunch from home and storing leftovers, as well as maximising the space in their kitchen. Food storage will be the most buoyant component of kitchen storage to 2022, as greater levels of austerity mean consumers prepare more food at home, and because of the necessity of the item.

Tesco ranked first in the United Kingdom (UK) Kitchen storage market in 2016 with an 8.5% market share, having gained 1.5 percentage points after significantly expanding its range. IKEA, the retailer Tesco overtook in 2016, had a share of 8.3%. In 2017, Tesco will stay top of the kitchen storage market, alongside IKEA, after both gain shares. IKEA’s share will grow 0.2 percentage points, with its strong value for money and two new stores supporting growth. Wilko and Dunelm will both lose share in 2017 due to Wilko’s uninspiring products and Dunelm focusing its intention elsewhere on its online offer.

Being price competitive was a factor in choosing a retailer for 71% of kitchen storage customers. However, retailers must not solely focus on price as design becomes more important and quality remains pivotal. 19.7% said they bought kitchen storage to achieve a new look, 2.1 percentage points up on 2015, reflecting the growing trend of homewares customers wanting to coordinate storage products with existing fixtures.

Most of customers bought from a retailer that offered high quality products. The importance of both design and quality reiterate that customers want better value over low prices alone, making improving product innovation and aesthetics pivotal.

The report “Kitchen Storage, 2017”, offers comprehensive insight and analysis of the UK market, the major players, the main trends, and consumer attitudes. It also provides forecasts to 2022.

In particular, this report provides the following analysis –
– An analysis of the key strategies for success in this market, as well as the most important market issues.
– Detailed data on the size of the market, the key drivers, and how spend is distributed.
– Profiles of the major players, and analysis of the key trends driving the market.
– Insight on who’s consuming, what they are buying, where they are buying, and what makes consumers purchase

Companies mentioned in this report: Amazon, Argos, Asda, B&M, Dunelm, IKEA, Sainsbury’s, Tesco, Wilko.

Scope

– Grocers will account for over a quarter of the kitchen storage market in 2017 as customers can buy kitchen storage during their weekly food shop.
– In 2017, Tesco will stay top of the kitchen storage market, alongside IKEA, after both gain share. IKEA will gain share in 2017, with its strong value for money and two new stores supporting growth.
– 19.7% said they bought kitchen storage to achieve a new look, 2.1 percentage points up on 2015, reflecting the growing trend of homewares customers wanting to coordinate and buy into a look.
– 50.3% of customers bought from a retailer that offered high quality products. The importance of both design and quality reiterate that customers want better value over low prices alone.

Reasons to buy

– Utilise our five-year forecasts to 2022 for individual sub-categories, online penetration and channels of distribution to enable targeted investment in high performing areas.
– Recognise which consumers to target and how to drive spend from them by utilising our shopper penetration data and understanding what influences their retailer selection and spending motivations.
– Understand how the online channel will impact upon the bedroom furniture by using our online penetration and expenditure forecasts and analysis on channels and online fulfilment.

Filed in: Consumer Goods
Publisher : GlobalData
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