The UK Electricals Market 2017-2022

2017-05-04
Price :
Published : May-2017
No. of Pages : 87

The UK Electricals Market 2017-2022

Summary

“The UK Electricals Market 2017-2022”, is part of GlobalData Retail’s sector analysis series, providing a detailed analysis of the electricals 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.

The UK electricals market will experience limited growth over the next five years. Price inflation coupled with an uncertain economic climate will dampen demand for electrical goods, particularly for discretionary purchases and upgrades. As a result electrical purchases will become more considered and consumers will be more likely to wait for promotional periods such as Black Friday in order to make their purchases.

The 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
– Thorough analysis of five key electrical brands
– Consumer analysis detailing how, where and why consumers are buying electrical products.

Scope

– Online electrical sales growth continues to outperform offline growth, in part as a result of major online pureplays AO.com and Amazon outperforming the market therefore shifting more sales away from stores. Both retailers have succeeded due to their highly competitive delivery propositions making them the go-to choice for distress electrical purchases. As offline sales continue to decline retailers will need to further incentivise consumers back into stores for example through in-store events and highly knowledgeable staff.
– In the next five years the brown goods market will gain some incremental growth from smart home products, in particular smart speakers such as the Amazon Echo and Google Home. These products have made smart home technology more affordable and accessible to consumers. In contrast, the TV market is forecast to decline over the next five years as innovation in the market such as OLED and 4K technology is failing to encourage consumers to upgrade, viewing less expensive HD TVs as an acceptable alternative. The challenging TV market, along with other poor performing categories such as optical equipment and visual players, will result in an overall decline in the brown goods market out to 2022.
– Overall penetration for consumers who shopped for electrical goods in the past 12 months increased, including among less affluent shoppers. This increase was in part due to the success of the 2016 Black Friday event, with widespread discounting tempting consumers to make electrical purchases. The Black Friday event was even stronger last year as shoppers were aware of impending price increases and saw Black Friday as the last chance to purchase these goods at the lowest prices.

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 electrical brands and 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.
– Realise the strength of the electricals online market, reviewing retailers who are growing online market share and using their tactics to develop your own online strategy.

Filed in: Consumer Goods, Retail
Publisher : GlobalData
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