Recently published research from Verdict Research, "International Retail Spend in the UK", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 09/23/2013 -- Overseas visitor retail spend will grow by GBP0.9bn in 2013, owing to an influx of inbound visitors, the popularity of retailers operating in the UK, particularly in the fashion sector, and the weak pound, which remains favourable to overseas visitors. Retailers must look to take advantage of this increasing expenditure by targeting overseas visitors, especially those from China and the Gulf States.
Scope of the Report:
- Make informed investment decisions using forecasts to 2018 for international retail spend in the UK.
- Learn about our top five markets to target (China, the Gulf States, Russia, Nigeria and Brazil) in order to boost your own sales.
- Understand the different personas of overseas visitors in order to tailor your proposition accordingly.
- Uncover how the retail market is split by sector and see where the potential opportunities for your business are.
- Glean how the retail market is split by value/midmarket/premium/luxury and see where the potential opportunities lie.
View Full Report Details and Table of Contents
We forecast overseas visitor spend to grow at a higher rate between 2013 and 2018 compared to the preceding five years. The growing influx of visitors from emerging markets such as China will boost spend, but we expect additional visitors from the likes of South America and other Asian countries in light of their burgeoning middle classes.
Despite its prominence, the UK continues to suffer from connectivity issues, with a lack of direct flights, and London's limited airspace restricting visitor numbers from growing further. The rise in air passenger duties and visa restrictions also deter overseas visitors from entering the UK, with mainland Europe remaining more appealing.
European countries, such as France, Germany and Ireland, accounted for over 50% of inbound visits to the UK in 2012, and while their spend is lower than our selected top five target markets, the significantly higher visit numbers ensure these tourists cannot be ignored, as failing to appeal to these shoppers will hand sales to other retailers.
Reasons to Get this Report
- Which overseas visitors should I target in the next five years and what defines these visitors from these territories?
- What are the different tourist personas and how should I actively target these different consumer groups?
- What sectors do overseas visitors to the UK spend the most on? How will this differ in 2018?
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