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Department Store Retailing in the UK | Verdict Channel Report, Verdict Retail

  • August 2014
  • 121 pages
  • GlobalData
Report ID: 3468671

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Summary
Following strong results from John Lewis and House of Fraser, we forecast department store expenditure to rise by 3.7% in 2014 - also aided by luxury players' on-going appeal among tourists. Shoppers continue to feel more confident about buying into discretionary sectors such as clothing and homewares, driving volume growth in the market.

Key Findings
- Benchmark your performance against your rivals using our market shares and major competitors analysis.

- Gain insight into the current state of play in UK department store retailing using our market size analysis.

- Use our market forecast analysis to help shape your business plan out to 2019.

- Update yourself on current industry trends and inform your future business decisions using our trends analysis and recommendations.

Synopsis
The number of UK consumers who shop regularly at department stores has fallen by 5.9 million in the five years to 2014, with the percentage of the population using department stores dropping from 49.0% to 35.7%. The closure of many TJ Hughes stores and a poor general merchandise performance from MandS have contributed to the decline.

The online department store market is forecast to grow by 71.9% in the five years to 2019, accounting for 26.7% of the market. The channel still represents a major opportunity for retailers as the convenience of shopping across both physical stores and online increases in popularity and the frequency of consumer online purchases rises.

While MandS still has the largest share of the market in 2014, by a lead of 2.9 percentage points, it continues to be eroded by stronger-performing rivals such as John Lewis, while its clothing and homewares sales have been hit hardest by Next.

Reasons To Buy
- Who are the top performing department stores in terms of UK turnover, profitability and market share?

- Which retail sectors are growing and require more focus, and which, if any, are declining in popularity?

- Who are my key customers, and how can I broaden my appeal to attract underserved demographics?

- How can I strengthen my online proposition and make it stand out from the competition to increase my online market share?

- How has the premium segment changed over the past five years and what does the market hold in the next five years?

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