Research Reveals Potential Growth Electricals Carries In UK Market with 7.4%
"The UK Electricals Market 2018-2023", report offers comprehensive insight and analysis of the electricals market (including forecasts up to 2023), the major players, the main trends, and consumer attitudes. It provides in-depth analysis of the following: the hot issues impacting the market, strategies for success, market sizes and forecasts, retailer profiles, retailer market shares, consumer data and future outlook.
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The report focuses on 13 key sub-categories: major kitchen appliances, small kitchen appliances, small domestic appliances, personal care electricals, televisions, games consoles, optical equipment, set top boxes, home audio equipment, portable audio equipment, visual players, computers & tablets and phones & software. Consumer data is based on our 2018 UK How Britain Shops survey, using a panel of 10,000 nationally representative consumers.
Overall the electricals market is set to experience a stronger year in 2018, boosted by an influx of shoppers buying new televisions to watch the FIFA World Cup in June and also strong sales in the home audio market driven by smart speakers. GlobalData forecasts that growth for the electricals sector over the next five years will be slightly stronger than historical rates, growing 7.6% between 2018 and 2023, versus 7.4% growth between 2013 and 2017.
- With the proportion of private home owners remaining significantly below historical rates retailers must adapt their offers to cater for changing requirements in the electricals market. For instance, landlords are more likely to require durable appliances that are reliable but still offer good value, rather than looking for stylish appliances or products offering state-of-the-art technology.
- A greater number of major players are offering shoppers the opportunity to purchase electrical goods on credit. In the current climate of economic instability and high inflation, less affluent shoppers are increasingly using these services to afford big-ticket electrical products.
- Dixons Carphone is set to reap the benefits from Maplin's exit from the market as its consumers are most likely to shop at Dixons, aided by its large store estate.
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Reasons to buy
- Using our five year forecasts to 2023, learn which subcategories in the electricals market will be the fastest performing to enable focus and investment in these winning product areas.
- Understand how drivers of electricals purchases, such as range, price and quality, vary in importance among different demographics in order to maximise sales potential.
- Use our in-depth analysis of the challenges faced by market leader Dixons Carphone in order to understand how to steal its shoppers and market share.
- Discover which segments of the market are forecast to prosper out to 2023, and understand which retailers are best placed to take advantage.
- Utilise our online forecasts to 2023 to consider how to exploit online potential and decide which age groups to target via the channel.
Companies Mentioned in the Report
Currys PC World
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