2013-02-14 13:01:58 - New Retailing market report from Verdict Research: "Homewares Retailing in the UK | Verdict Market Report"

Following three years of sales declines, the homewares market grew in 2012, and will grow more significantly in 2013. Future growth in expenditure however will be dictated by the performance of the UK housing market, as shoppers continue to delay purchases until they see a brighter future. In order to stimulate spending, retailers must look to encourage newness, fashion and innovation in products.

Scope of this Report

* Evaluate your own brand strategy, and move into the right categories by understanding where gaps in the market lay, and how best to approach them
* As a new entrant, discover where growth areas lie in homewares with forecasts and key players for the value, midmarket and premium markets
* Plan your product

mix with detailed annual category forecasts to 2017, helping you understand which categories will gain, and which will lose share
* Target your customers better, by building knowledge of the important spending triggers among homewares shoppers and understanding drivers of loyalty


Full Report Details at
- www.fastmr.com/prod/538268_homewares_retailing_in_the_uk_|_verdi ..


Report Highlights

John Lewis has been overtaken at the top of the homewares sector in 2012 by specialist Dunelm Mill. We expect Dunelm to retain its market leading position through 2013 as the retailer continues to open stores and develop its online proposition. Its offer chimes well with homewares shoppers in the current climate, and is fundamental to its success.

Owing to Dunelm Mill's success, homewares specialists have grown their share of the sector, and Verdict expects specialist share to reach 19.2% in 2013. By 2017, we are forecasting that specialists will lead the market, 0.8 percentage points ahead of the current leaders, department stores.

New entrants in homewares will gravitate towards the online channel. It provides smaller players with a niche and the ability to reach a broad audience and a community of shoppers. Merchant sites will provide a platform for small players to get noticed and develop a brand following.

Reasons to Get this Report

* What motivates homewares shoppers to make a purchase, and how has this changed as shoppers adapt?
* Which homewares retailers will gain market share in 2013, and which are set to lose share?
* How will online growth impact homewares expenditure in the coming years, and how will this help smaller players to expand?
* Which store formats are the most successful for homewares retailers, and what needs to be done to maximise the benefit of these?

Partial Table of Contents:

OUTLOOK

* Introduction
* Stimulating demand is essential for market recovery

* Growth in homewares returns in 2012 – albeit at just 0.1%
* Substantial market recovery will rely on the housing market
* Fashion, newness and innovation will stimulate homewares purchases
* Value players will continue to be winners, accounting for 47.3% of the market in 2017
* Specialists grow share of the market – boosted by Dunelm Mill
* Textiles recovers quicker than hardware
* Kitchenware remains popular while lighting faces a challenging time
* Range and quality become more important to homewares shoppers
* Online channel is attractive to new entrants
* OOT format will remain a popular store concept for homewares

RECOMMENDATIONS

* Introduction

* Cater to changing spending triggers
* Utilise the benefits of online
* Maintain appeal of OOT formats
* Identify growth opportunities

MARKET SIZE

* Introduction

* Definition

* Homewares expenditure trends

* Sector returns to growth, but not to pre-recession levels
* Gradual homewares recovery begins
* More resilient than other home sectors
* Declining volumes drag sector down
* Inflation brings sector to growth
* Strength of value players and grocers restricts inflation growth
* Sector grows over 10 years, despite declines between 2009 and 2011

* Homewares sub sector trends

* Textiles recovers quicker, but hardware gains share on 2002
* Hardware loses share over 2007–12 as textiles picks up
* Long term trend shows hardware dominance
* Household hardware & lighting
* Textiles & soft furnishings

* Homewares sub sector breakdown

MARKET FORECAST

* Introduction
* Homewares expenditure trends

* Growth to accelerate gradually as housing market begins to pick up
* Few want to move – so most won't bother to spend
* First time buyers unable to invest …
* … so have no need to buy homewares
* Retailers will need to encourage spending
* Volume growth to drive sector recovery
* Pent up demand will be less than in other sectors
* Deflation to stunt homewares growth
* Homewares will continue to be outpaced by total retail
* Other sectors buoy total retail

* Online expenditure forecasts

* Rate of expenditure growth set to increase by 2017
* Spend per head online will grow faster than shopper numbers

* Expenditure breakdown

* Expenditure growth on value homewares will exceed mid and premium markets for another five years
* Midmarket will continue to be squeezed …
* … but premium share will recover post downturn at a faster rate than value

* Homewares sub sector trends

* Shift in demand will force shift in homewares share
* Household hardware & lighting
* Kitchen utensils and crockery will be popular
* Lighting will remain a low priority
* Textiles & soft furnishings
* Grocers and value players will stimulate demand
* Fashion players encourage spending
* Products provide quick fix

*

Full Table of Contents is available at:
-- www.fastmr.com/catalog/product.aspx?productid=538268&dt=t

About Verdict Group

With over 20 years' experience, Verdict Research is the UK?s leading authority on retailing, and publishes unrivalled independent analysis. Verdict reports, forecasts, briefings, consumer research and bespoke consulting services provide clients with a complete picture of the UK and international retail arena, helping retailers, manufacturers, service suppliers, city analysts and consultants to fully exploit opportunities within the sector. View more research from Verdict Research at www.fastmr.com/catalog/publishers.aspx?pubid=1005

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at www.fastmr.com or call us at 1.800.844.8156.