The discount market has grown so significantly over the past ten years that it now appeals to the mass market consumer, and the negative perception of shopping at discounters has arguably been removed. Growth in the next five years will continue, facilitated by consumers trading down as a result of lower disposable income and inflationary pressures driving product prices up.
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Pune, India, 11th September 2017: WiseGuyReports announced addition of new report, titled “UK Discounters 2017-2022”.
The "UK Discounters 2017-2022", report provides comprehensive insight into and analysis of the UK discount retail market, the prevailing trends, hot issues, consumer motivations, strategies for success, and opportunities for future growth. Consumer data is based on our discounter survey using a panel of nationally representative shoppers.
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The report looks at the discount retail channel from 2017 to 2022.
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Discounters must make the most of this by adapting to consumer needs and trends to maximise growth. In this report we analyse the different retailers in the discount market, what people buy from them, consumer motivations and concerns, as well as how and where people choose to shop at the discounters.
The report covers the following topics -
- The hot issues
- Strategies for success
- Opportunities for growth
- What people buy
- How people buy
- Where people buy
- Why people buy
- The discount market is set to grow 36.1% between 2017-2022e, rising to £32.5bn from £23.9bn. Strong growth has been driven by the discounters evolving to appeal to the broader consumer, aggressive geographical expansion, diversification of range, and improved in-store experience.
Discounters that can appeal to a broad consumer base without alienating its core customer will command the greatest discount market share.
- DIY & Gardening, Homewares, and Health & Beauty are the highest growth categories, all growing at above 40% for the five years from 2017. DIY & Gardening will benefit from consumers trading down to do their essential home maintenance; homewares will benefit from impulse purchasing and gifting as well as consumers seeking to buy small luxuries where they can; and Health & Beauty will grow due to the discounters’ ability to provide branded products at a lower price.
Although, the latter will be challenged in the future with inflation eroding margins.
- Food & Grocery has been the most successful discount category, commanding 70% of the total discount retail market. Strong growth has been driven by the frequency of purchase of F&G items and the lack of branded items has meant that the discount F&G retailers have manged to remove the perception and trust issue that surrounds own-label items.
- Clothing & Footwear presents a new growth opportunity for the discounters. At the moment, the discounters only command 0.6% of the clothing & footwear market, and with the predicted decrease in consumer spending it is likely that general retail clothing sales will decrease, thus leaving consumers looking for somewhere to obtain cheaper clothing.
The discounters could become that destination if they develop on-trend ranges which appeal to consumer needs.
Reasons to access
- Utilise our five year forecasts to 2022 for the discounter retail channel, and sector penetration to help form an effective growth strategy.
- Understand why the discount market has been so disruptive for the retail sector.
- Consider our analysis of hot issues, strategies for success, and opportunities for growth to understand the future of the market and potential for discount retail.
- Understand the discounter penetration for each category, and which are under/outperforming.
- Review how the discount market is outperforming the retail market, the reasons for this, and whether growth is sustainable.
- Recognise what consumers want from the retail sector, both discounter-specifically, and in the general retail perspective.
Table of Content: Key Points
The hot issues
What people buy
Where people buy
How people buy
Why people buy
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