Fast Market Research recommends "Department Store Retailing in the UK | Verdict Channel Report" from Verdict Research, now available
Boston, MA -- (SBWIRE) -- 03/14/2013 -- Despite the challenging economic climate, the UK department store market achieved growth of 13.2% between 2007 and 2012 – outperforming overall retail. While the channel has shown some resilience, it has needed high levels of discounting to remain competitive and attract shoppers from specialists in the various sectors in which it operates.
Scope of this Report
- Benchmark your performance against your rivals using our market shares and major competitors analysis.
- Gain insight into the current state of play in UK department store retailing using our market size analysis.
- Use our market forecast analysis to help shape your business plan out to 2017.
- Update yourself on current industry trends and inform your future business decisions using our trends analysis and recommendations.
Premium department stores Harrods and Selfridges performed strongly in 2011/12, with Harrods’ sales (excluding concession sales) increasing 11.2% to £651.7m in the year to the end of January 2012 and Selfridges breaking the £1bn barrier in the same period.
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While department stores’ share of the clothing & footwear market has decreased from 17.7% to 17.5% in the five year period to 2012, the category has increased in importance for the channel, with product mix growing by 2.0 percentage points to 58.0% and sales growing by almost £1.4bn.
We forecast the online channel to generate almost 9% of department store sales in 2012 and to grow to 13.7% by 2017, as retailers continue to enhance their multichannel propositions and as more smaller players introduce e-commerce to their offers.
Reasons to Get this Report
- Who are the top performing department stores in terms of UK turnover, profitability and market share?
- Which retail sectors are growing and require more focus, and which, if any, are declining in popularity?
- Who are my key customers, and how can I broaden my appeal to attract underserved demographics?
- How can I improve engagement with consumers and reach out to the local communities in the regions in which I operate?
- How can I strengthen my online proposition and make it stand out from the competition?
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