Published on : Sep 13, 2017
Albany, New York, September 13, 2017: A new research report named “UK Discounters 2017-2022” is added to Market Research Hub (MRH)’s database that focuses on prevailing trends, hot issues, consumer attraction, success strategies and future growth opportunities in discount retail channel in UK. The report provides comprehensive analysis and also forecasts UK discount retail market between 2017 and 2022.
According to the report, the driving factors behind discount retail growth are price sensitive consumers, aggressive space growth from the retail discounters, enhanced shopping experience and increase in product range. The report also says that the UK retail discount market has significantly grown over the past ten years, so much that it has now become very attractive to the mass market consumer. According to the report, the growth in this market will continue to increase in the next five years, facilitated by consumers who trade down owing to lower disposable income & inflation, thereby contributing to the product prices.
The discounters must continue to understand the consumer needs & wants, and quickly adapt to trends for maximized results. The report also mentions different retailers in UK discount market and compares them in terms of products & services that consumers buy from them, consumer attractions, and consumer concerns, along with choices of consumers during shopping at discounters.
The report has estimated the discount market to grow at 36.1% CAGR between 2017 and 2022, showcasing an increase in revenues from 32.5bn in 2017 to 23.9bn by 2022-end. It further estimates a robust growth for the market, driven by the discounters evolving to attract larger consumer base, an aggressive geographical expansion, provide a variety of range in products, and a better in-store experience. The discounters that can appeal to a broad consumer base, without disaffecting its core customer, will grasp the greatest discount market share.
Moreover, the report examines expansion of DIY Gardening, homewares, and Health & Beauty for the next five years from 2017. DIY Gardening is much more prominent in UK than anywhere else in the world and it is benefitted from the consumers who look forward to do their home maintenance on their own. Homewares will be benefitted from consumers, who wish to redefine the aesthetics of their home, and feel the way they want about their residence. It allows consumers to inject their own personality into their homes and reflect their sense of design and comfort. This makes consumers buy several items at one go to complete their desires regarding their house.
The Food & Grocery is something nobody can avoid and if you get discounts over it, then no stopping in purchasing it with higher discounts. It has been the most popular discount category, claiming 70% of the total discount retail market in UK. According to the report, another most popular category is the clothing & footwear category that commands 0.6% of the clothing & footwear market in UK however this category is still coming up as a new growth opportunity for the retail discounters.
Apart from above insights, the report has offered detailed insights on growth of UK retail discounters market, including topics related to hot issues, strategies for success, opportunities for growth, what people purchase, the way they purchase, the place from where they purchase, and why people purchase.
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