2014-04-30 00:05:01 - Mixed Retailers in Ireland - a new market research report on companiesandmarkets.com
Ireland´s department stores continued to struggle during 2013 in the face of falling consumer demand and lower footfall, which resulted in department stores declining in current value by 5% and mixed retailers overall declining in current value by 4%. Despite clear signs that Ireland´s devastating economic recession was beginning to even out towards the end of the review period, many Irish consumers remained cautious with regards to all non-essential spending, limiting all purchases which could be regarded as indulgent in order to maintain more of a focus on debt reduction and saving in a continuation of trends which were evident throughout the review period. This was to the benefit of variety stores, a channel which was in decline during Ireland´s
boom years prior to the onset of the global economic crisis, with many Irish consumers shunning variety stores after the extremely buoyant performance of the category during the previous economic recession which plagued Ireland during the 1980s, mainly because the products offered in variety stores are regarded as being cheap and of low quality. Whilst the early stages of the review period saw values sales declining for variety stores due to significant reductions in overall spending by Irish consumers, this trend has since reversed as the severity and length of the current economic recession have become apparent.
Dunnes Stores Plc remained the leading company in mixed retailers in Ireland in 2013 with value sales of â¬1.1 billion and a value share of 39%. The company continued to benefit from the strong recognition of its retail brand and steadfast loyalty among Irish consumers. Dunnes Stores´ reputation is based on its offer of excellent value for money and the wide range of products it offers across a wide range of departments. The company´s private label line St Bernard is popular, as is its premium private label apparel line Savida. Dunnes launched its online store during 2013, reversing the company´s previous stance of shunning online sales. The site has been in development for a year, although it does not yet offer grocery products, focusing instead on apparel, homewares and gifts, thereby avoiding direct competition with Tesco Ireland Ltd.
Mixed retailers in Ireland is expected to decline in constant value at a CAGR of -2% over the forecast period, with many of the operators in the channel expected to continue with their attempts to hold their ground, at least during the initial years of the period, as the trading conditions remain challenging for Ireland´s mixed retailers. It can be hoped that the performance of mixed retailers will begin to improve towards the end of the review period as consumer confidence finally begins to improve in Ireland, resulting in rising spending levels.
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