Forecasted turnover in the UK retail trade sector (excluding motor vehicles and motorcycles) shows a consistent upward trend from 2024 to 2028, starting at £464.93 billion in 2024 and reaching £495.14 billion by 2028. The year-on-year increase is approximately 1.7%, reflecting steady growth. Compared to 2023, which marked the end of actual data collection, the forecast predicts gradual growth influenced by rising consumer spending and post-pandemic recovery. The five-year compound annual growth rate (CAGR) indicates an average annual increase of around 1.6%.
Future trends to watch will include the impact of innovative retail technologies, shifts in consumer preferences towards online shopping, and potential economic fluctuations due to geopolitical factors and regulatory changes. These elements could affect turnover and growth dynamics in the sector significantly.
