The turnover in the UK retail sector for non-specialized stores with food, beverages, or tobacco predominating is forecasted to increase steadily from 2024 to 2028. The year-on-year growth is modest, showing consistent increases of approximately 1.2% to 1.4% annually. In 2023, the sector stood at 179.80 billion pounds. Over the forecasted five-year period, the compound annual growth rate (CAGR) is approximately 1.2%, indicating a stable upward trend.
Future trends to watch for include:
- The impact of consumer behavior shifts post-pandemic.
- Increased demand for e-commerce and quick delivery services.
- Potential effects of inflation and economic policies on disposable income.
- Sustainability trends influencing consumer choices and retail supply chains.