PROSPECTS AND OPPORTUNITIES
Projected decline for appliances and electronics specialists driven by growing retail e-commerce competition
Value sales of appliances and electronics specialists (at constant 2024 prices) are expected to marginally decline over the forecast period, driven by economic pressures and intensified competition from retail e-commerce platforms. Persistently high inflation and reduced disposable incomes have led to cautious consumer spending, with shoppers becoming increasingly reluctant to invest in large household appliances and high-cost electronics.
The rise of smart technology and home automation expected to drive sales
Smart technology and home automation will continue to drive future opportunities within appliances and electronics specialists in the UK over the forecast period. As local consumers increasingly adopt connected devices, retailers that offer a wide selection of smart home products will be better positioned to capitalise on this growing interest.
Strategic product mix expected to be vital in maximising in-store sales
With appliances and electronics specialists facing declines in both sales terms and outlet numbers over the forecast period, optimising product selection will be essential for retailers to drive in-store sales. Unlike retail e-commerce platforms that offer virtually unlimited product ranges, physical stores operate with space constraints.
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Overview:
Understand the latest market trends and future growth opportunities for the Appliances and Electronics Specialists industry in United Kingdom with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Appliances and Electronics Specialists industry in United Kingdom, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Appliances and Electronics Specialists in United Kingdom report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Appliances and Electronics Specialists in United Kingdom?
- Which are the leading retailers in Appliances and Electronics Specialists in United Kingdom?
- How is the rise of e-commerce and the expansion of modern grocery retail impacting traditional retail?
- How has the impact of COVID-19 and national lockdown impacted consumer demand?
- Which formats have benefited the most from stockpiling and enforced home seclusion?
- How will the wider economic impact of COVID-19 shape the retail landscape in the future?
- Where is future growth expected to be most dynamic?
Appliances and Electronics Specialists in the United Kingdom - Category analysis
KEY DATA FINDINGS
Weak channel performance amid changing consumer behaviour
Store transformation and strategic initiatives of Currys aim to enhance consumer experience
Sales via mobile network operators outperform traditional appliances and electronics specialists
Projected decline for appliances and electronics specialists driven by growing retail e-commerce competition
The rise of smart technology and home automation expected to drive sales
Strategic product mix expected to be vital in maximising in-store sales
Retail in the United Kingdom - Industry Overview
Retail in 2024: The big picture
Value-driven shopping continues to reshape UK retail landscape
Retail e-commerce thrives on convenience and competitive pricing
What next for retail?
Informal retail
Opening hours for physical retail
Seasonality
Valentine’s Day
International Women’s Day
Easter
Back-to-school
Black Friday
Christmas
DISCLAIMER
Appliances and Electronics Specialists
Appliances and electronics specialists are chained or independent retail outlets with a primary focus on selling one or more of the following categories: domestic electrical appliances, consumer electronics (including mobile phones), and/or computers and peripherals. Appliances and electronics specialists value sales excludes revenues derived from telecoms service plans and top-up cards. Example brands include Apple, Best Buy, and Gome.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Appliances and Electronics Specialists research and analysis database.
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