UK Retail Futures 2012: Homewares

Publication Date	April 2008
Publisher	Verdict
Product Type	Report
Pages	156
ISBN Number	not applicable
Product Code	VDT00315

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Summary

UK Retail Futures 2012: Homewares

The homewares market is set to achieve growth of 3.8% in 2008, its highest level since 2002...
By 2012 we anticipate that the market will have grown by 17.3%, exceeding overall retail growth of 16.3%. It will comfortably exceed sales of 13.2bn by 2012 and is set to account for 4.1% of the total retail market, a new highest level. We forecast average growth for the next five years of 3.3%, ahead of the average growth of 2002-07 which stood at 3.0%. This is in spite of the rate
of average volume growth dropping from 3.6% to 3.3% and will be a result of deflation dropping from -0.6% to nil.
This new report published by Verdict provides comprehensive, authoritative analysis of the market going forward and supplies an extensive range of key data and metrics essential for participants to fully understand the dynamics of the market and form winning strategies.

Identify and understand the key drivers of market growth and gain insight into the channels of distribution...

Understand the key market drivers. Use the analysis of major trends in homewares to gain insight into the challenges and opportunities going forward.
Discover which categories look set to outperform. Compare projected growth rates of the key categories to assess new opportunities and make strategic decisions based on category information.
Identify which channels are gaining share. Gain insight into distribution channel performance and fully understand the reasons behind the projected changes in market share.
Gain detailed insight into the specialists channel. Use the detailed analysis of the sector specialists to understand the drivers of market growth, analyse inflationary/deflationary pressures and see the impact of projected store expansion.

This report answers key questions including...

How fast will the homewares market grow?
What impact will inflation/deflation have in each category?
What will be the fastest growing category?
Which channel is gaining the most market share and why?
How are specialists set to perform until 2012?
What is the forecasted space growth for specialists?
Which retailers will gain or lose market share in 2008?
Which retailer has gained the most market share between 2002 and 2007?
What are the sources of market growth?

Key issues examined in this report...

Specialists set to lose market share. With existing non specialists rapidly expanding their homewares ranges and further non-specialists especially fashion multiples set to enter the market, homewares specialists will continue to lose market share over the forecast period and with it their crown as the most important distribution channel for homewares.
Competition set to intensify. For specialists, with competition intensifying and consumer choice greater than ever before, investment in propositions, differentiation, product and service enhancements, and promotion of their homewares offer to consumers to encourage trading up and more frequent replacement purchases will be essential if they are to prevent any further loss of market share to the non-specialists.
Brand, fashionability & broad appeal essential. The dynamics of the market are changing. While strong price credentials will continue to play a pivotal role, to encourage consumers to spend, both specialist and non-specialists will need to develop a homewares offer with a broad product architecture and a strong brand that is fashion focused, differentiated and of high quality.

Content

Chapter 1 Executive Summary
- Key Findings
- Main Conclusions
Chapter 2 Forecast Summary
- Homewares Overview
- Homewares Expenditure Growth
- Inflation
Chapter 3 Key Market Issues
- Overview
- Competition Intensifies
- Shifting Balance of Power
- Attractiveness of Homewares to Non-Specialists
- Non-Specialists
- Winners and Losers
- Specialists
- Winners and Losers
- Dealing with The Threat of Non-Specialists
- Differentiating The Offer
- Educating The Consumer
- Raising The Profile of Homewares
- Space Growth
- Price Deflation Accelerates
- Multichannel Offer Becomes Essential
Chapter 4 Channels of Distribution
- Sales & Spending
- Sales Channels
- Online Sales Channel
- Category Channels
- Household Hardware & Lighting
- Textiles & Soft Furnishings
- Retailers Market Shares
Chapter 5 Category Forecasts
- Expenditure Summary
- Expenditure Analysis
- Expenditure Growth
- Household Hardware & Lighting
- Textiles & Soft Furnishings
- Category Winners & Losers
Chapter 6 UK Economic Forecasts
- Key Messages
- Gross Domestic Product - Gdp
- How Does IT Affect Retail?
- What's Happened?
- What Will Happen?
- Earnings Growth
- How Does IT Affect Retail?
- What's Happened?
- What Will Happen?
- Real Household Disposable Income
- How Does IT Affect Retail?
- What's Happened?
- What Will Happen?
- Employment
- How Does IT Affect Retail?
- What's Happened?
- What Will Happen?
- Inflation
- How Does IT Affect Retail?
- What's Happened?
- What Will Happen?
- Exchange Rates
- How Do They Affect Retail?
- What's Happened?
- What Will Happen?
- Interest Rates
- How Do They Affect Retail?
- What's Happened?
- What Will Happen?
- Savings Ratio
- How Does IT Affect Retail?
- What's Happened?
- What Will Happen?
- Consumer Debt
- How Does IT Affect Retail?
- What's Happened?
- What Will Happen?
- Equities
- How Does IT Affect Retail?
- What's Happened?
- What Will Happen?
- House Price Inflation
- How Does IT Affect Retail?
- What's Happened?
- What Will Happen?
- Housing Equity Withdrawal
- How Does IT Affect Retail?
- What's Happened?
- UK Retail Futures 2012: Homewares Dmvt0467
- What Will Happen?
- Housing Transactions
- How Does IT Affect Retail?
- What's Happened?
- What Will Happen?
Chapter 7 UK Retailing Forecasts
- Key Indicators
- Retail Expenditure 1997-2012
- Sales by Location 2007-2012
- Sources of Growth 1997-2012
- Store Numbers by Location 1997-2012
- Space by Location 1997-2012
- Sales Density by Location 1997-2012
- Average Store Size 1997-2012
- Average Store Sales 1997-2012
- Online Retail Spending
Chapter 8 Glossary
- Terminology
- Homewares Market Definition
- Location Definitions
- Town Centre
- out-of-Town
- Neighbourhood
- Non-Store Retail
- Forecasting Methodology
- Abbreviations
List of Tables
- Table 1: Homewares Expenditure Summary 1997, 2002, 2007 and 2012e
- Table 2: Non-Specialists Homewares Market Shares 2007-2012e
- Table 3: Expansion Plans of Main Homewares Non-Specialists 2007-2012
- Table 4: Homewares Retailers Market Shares 2002-2008e
- Table 5: Homewares Expenditure Analysis 2007-2012
- Table 6: Total Homewares Expenditure 1997-2012e
- Table 7: Household Hardware & Lighting Expenditure 1997-2012e
- Table 8: Textiles & Soft Furnishings Expenditure 1997-2012e
- Table 9: Category Growth Values 1997-2012e
- Table 10: Economic Drivers for Retail 2008
- Table 11: Measures of Inflation 2008
- Table 12: UK Retailing Forecasts Summary 2007-2012
- Table 13: Forecast Chronology 2008-2012
- Table 14: Total Consumer Retail Expenditure 1997-2012
- Table 15: Sales by Location 1997-2012
- Table 16: Total UK Physical Store Sales & Selling Space 1997-2012
- Table 17: Sources of Sales Growth for Physical Stores 1997-2012
- Table 18: Store Numbers 1997-2012
- Table 19: Space by Location 1997-2012
- Table 20: Sales Densities by Location at Current Prices 1997-2012
- Table 21: Average Store Size by Location 1997-2012
- Table 22: Average Sales per Store by Location at Current Prices 1997-2012
- Table 23: Homewares Market Definition 2008
List of Figures
- Figure 1: Homewares Sales Growth 1997-2007 and Forecast to 2012
- Figure 2: Homewares Annual Inflation/Deflation 1997-2012e
- Figure 3: Key Issues Facing Homewares Market 2007-2012
- Figure 4: Key Growth Factors of Homewares Market 2007-2012
- Figure 5: Factors Influencing Intensity of Competition in Homewares 2008
- Figure 6: Factors Shifting The Balance of Market Power in Favour of Non Specialists 2008
- Figure 7: Appeal of Homewares to Non-Specialist Retailers 2008
- Figure 8: Non-Specialists Market Share of Homewares Market 2005-2012
- Figure 9: Focus of Non-Specialist Homewares Strategies 2008
- Figure 10: Specialists Homewares Market Shares 2005-2012e
- Figure 11: Key Specialists Market Share 2007-2012e
- Figure 12: Dealing with The Threat of Non-Specialists 2008
- Figure 13: Strategies to Educate Consumers 2007-2012
- Figure 14: Strategies for Homewares Specialists to Raise The Profile of The Category 2007-2012
- Figure 15: Planned Increase in Selling Space of Homewares Retailers by 2012
- Figure 16: Homewares Inflation 2007-2012e
- Figure 17: Homewares Retailers Multichannel Operations 2008
- Figure 18: Homewares Channels of Distribution 2006, 2007 and 2012
- Figure 19: Forecast Changes in Shares of Homewares Market Major Channels 2012e on 2007
- Figure 20: Forecast Change in Sales among Key Homewares Channels 2012e on 2007
- Figure 21: Homewares Online Sales 2002-2012e
- Figure 22: Household Hardware & Lighting Breakdown of Categories as Channels 2006, 2007 & Forecast 2012e
- Figure 23: Textiles & Soft Furnishings Breakdown of Categories as Channels 2006, 2007 & Forecast 2012e
- Figure 24: Key Homewares Retailer Changes in Market Shares 2007-2012e
- Figure 25: Homewares Expenditure 1997, 2002, 2007 and 2012e
- Figure 26: Homewares Spend as A % of Total Retail Spend 1997-2012e
- Figure 27: Homewares Growth (2003 Constant Prices) 1997-2012e
- Figure 28: Household Hardware & Lighting as A % of Homewares Spending 1997- 2012e
- Figure 29: Household Hardware & Lighting Growth (Constant 2003 Prices) 1997- 2012e
- Figure 30: Textiles & Soft Furnishings Expenditure as A % of Homewares Spending 1997-2012e
- Figure 31: Textiles & Soft Furnishings Expenditure Growth (Constant 2003 Prices) 1997-2012e
- Figure 32: Sub Category Sales 2005-2007 & Forecast 2012e
- Figure 33: Real Gross Domestic Product (Gdp) at Constant (2003) Prices 1997-2007 and Forecast to 2012
- Figure 34: Inflation vs Average Earnings Growth 1997-2007 and Forecast to 2012
- Figure 35: Tax & Prices vs Average Earnings 1997-2007 and Forecast to 2012
- Figure 36: Real Household Disposable Income at Constant (2003) Prices 1997-2007 and Forecast to 2012
- Figure 37: UK Employment 1997-2007 and Forecast to 2012
- Figure 38: UK Unemployment 1997-2007 and Forecast to 2012
- Figure 39: Inflation Rates Y-O-Y 1997-2007 and Forecast to 2012
- Figure 40: Sterling, Dollar and Euro Exchange Rates 1997-2007 and Forecast to 2012
- Figure 41: UK Average Base Rates 1997-2007 and Forecast by Quarter for 2008
- Figure 42: UK Average Base Rates 1997-2007 and Forecast to 2012
- Figure 43: Savings Ratio 1997-2007 and Forecast to 2012
- Figure 44: Growth in Consumer Debt 1997-2007 and Forecast to 2012
- Figure 45: Ftse 100 Index 1997-2007 and Forecast to 2012
- Figure 46: UK House Price Inflation 1997-2007 and Forecast to 2012
- Figure 47: Housing Equity Withdrawal (England & Wales) 1996-2007 and Forecast to 2012
- Figure 48: Housing Transactions (England & Wales) 1997-2007 and Forecast to 2012
- Figure 49: Retail Spending Value, Volume and Inflation/Deflation Trends 1997-2007 and Forecast to 2012
- Figure 50: Retail Spending as Percentage of Total Consumer Spending 1997-2007 and Forecast to 2012
- Figure 51: Consumer, Retail and Non-Retail Spending Trends % 1997-2007 and Forecast to 2012
- Figure 52: Retail Sales by Location 2007 and 2012
- Figure 53: Share of Turnover by Location 1997, 2002, 2007 & 2012
- Figure 54: % Share of Store Numbers by Location 1997, 2002, 2007 & 2012
- Figure 55: % Share of Space by Location 1997, 2002, 2007 & 2012
- Figure 56: Online Retail Spending 1997-2012
- Figure 57: Verdict Forecasting Methodology 2008