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Shopfitting (Industrial Report) - UK - June 2014

“Shopfitters will be heartened by economic indicators at the start of 2014, which suggest improved market conditions, though growth in demand is expected to be unevenly split across retail sectors.”

– Ben Harris, Industrial Analyst

This report explores the following issues facing UK shopfitters:

  • What is the balance between refurbishment activity and new store fit-out in the UK and how is this likely to change moving forward?
  • How are retailers’ actions affecting the price level in the shopfitting industry?
  • What retail sectors will offer the most new business opportunities over the coming year?
  • What trends in retail store environments will affect shopfitters in the next five years?
  • What factors are influencing retailers’ decisions on shopfitting investment?

The shopfitting market includes a wide range of products and services that are used in the fitting out of predominantly, but not exclusively, retail establishments. The market involves a wide variety of skills and products, the majority of which are also utilised in other market sectors in the construction industry. These include the production and installation of:

  • Internal wall cladding
  • Windows and doors
  • Raised access flooring
  • Suspended ceilings
  • Shop facias
  • Signs
  • Lighting
  • Shelving
  • Electronic point of sale equipment
  • Floorcoverings
  • Counters and furniture
  • Dressing rooms
  • Electronic display equipment
  • Heating and ventilation equipment

The requirements of shopfitters depend largely on the sector involved, and specialist work is often subcontracted out to non-shopfitting specialists.

Shopfitters typically offer design facilities, although specialist designers and architects, who have no in-house production or installation facilities, and the work of specialist non-shopfitting companies are beyond the confines of this report.

The following criteria are mentioned in the report:

  • Bespoke/standard fittings, with bespoke fittings representing custom-made products while standard products are often available “off the shelf”
  • New build/refurbishment, with both sectors offering substantial opportunities for shopfitting companies
  • Client sector, with different client sectors having vastly different requirements in terms of fitting, furniture, image and decor
  • Materials, which differ from sector to sector, with wood, aluminium laminates and composites the widely specified finishes in the shopfitting sector

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Table of contents

  1. Executive Summary

      • The market
        • Shopfitting revenues down in 2013
          • Figure 1: UK market for shopfitting, 2009-13
        • Retail construction activity down despite new shopping centre developments
          • Figure 2: Retail construction in the private sector, 2009-13
        • Shopfitting market to return to growth in 2014
          • Figure 3: Forecast UK market for shopfitting, 2014-18
        • Market factors
          • Consumer experience trends driving new store design
            • Discounters and toy and game retailers increase their presence in 2013
              • Figure 4: Change in number of retail outlets, by sector, 2012-13
            • Retail sales yet to take off but consumer confidence is rising
              • Figure 5: Total UK retail sales, 2009-13
            • Companies
              • Wates fails to halt decline in retail shopfitting revenues
                • Interior Services Group makes international investments to diversify revenue streams
                  • What we think
                  • Introduction

                    • Issues in the market
                      • Definitions
                        • Methodology
                          • Abbreviations
                            • Market positioning
                              • The supplier
                              • UK Economy

                                • Key points
                                  • UK economy
                                    • Inflation
                                      • Interest rates
                                        • House prices
                                          • Consumer spending
                                            • Manufacturing
                                              • Business investment
                                                • Imports
                                                  • Exports
                                                  • Market Factors

                                                    • Key points
                                                      • Market factors
                                                        • The economic environment
                                                          • Retail industry performance
                                                            • New store construction
                                                              • Planning regulations and related legislation
                                                              • Market Size

                                                                • Key points
                                                                  • Market size
                                                                    • Contraction in 2013 as store upgrade activity stalls
                                                                      • Figure 6: UK market for shopfitting, 2009-13
                                                                    • Technology and large retailer purchasing power affecting prices
                                                                      • Food retail demand strong while value retailers increase store presence
                                                                      • Market Trends

                                                                        • Key points
                                                                          • Market trends
                                                                            • Budget retail premises grow at expense of local shops
                                                                              • Figure 7: Change in number of retail outlets in the UK, by sector, 2012-13
                                                                            • Shopfitting complexity increasing as in-store experience grows in importance
                                                                              • Business rate relief extended to retailers
                                                                                  • Figure 8: Business rate multipliers, in England, 2008-13
                                                                                • London retail outlets grow while the rest of the UK declines
                                                                                  • Figure 9: Change in number of retail outlets in the UK, by region, 2009-13
                                                                                • Retail construction stronger in Q3 and Q4
                                                                                  • Figure 10: Seasonality of retail construction output, 2009-13
                                                                              • Supply Sources

                                                                                • Key points
                                                                                  • Production
                                                                                    • Figure 11: UK production of wooden furniture for shops, 2008-12
                                                                                  • Imports
                                                                                    • Figure 12: UK imports of wooden furniture for shops, 2008-12
                                                                                  • Exports
                                                                                    • Figure 13: UK exports of wooden furniture for shops, 2008-12
                                                                                • Industry Structure

                                                                                  • Key points
                                                                                    • Industry development
                                                                                      • Declining revenues lead to high profile industry insolvencies
                                                                                        • Project delivery firms dominate at top of the market
                                                                                          • Shop furniture manufacturer market consolidates
                                                                                            • Figure 14: Analysis of changes in the structure of the shop and office furniture manufacturing industry, 2009-13
                                                                                          • Structure by employment
                                                                                            • Figure 15: Analysis of the employment structure of the shop and office furniture manufacturing industry, 2012 and 2013
                                                                                          • Structure by turnover
                                                                                            • Figure 16: Analysis of the financial structure of the shop and office furniture manufacturing sector, 2012 and 2013
                                                                                        • Bowmer & Kirkland

                                                                                            • Figure 17: Financial analysis of Bowmer & Kirkland, 2008-12
                                                                                        • R G Carter Group

                                                                                            • Recent company activity
                                                                                              • Figure 18: Financial analysis of R G Carter, 2008-12
                                                                                          • Hutton Construction

                                                                                              • Recent company activity
                                                                                                • Figure 19: Financial analysis of Hutton Construction, 2009-13
                                                                                            • Interior Services Group

                                                                                                • Recent company activity
                                                                                                  • Figure 20: Financial analysis of Interior Services Group, 2009-13
                                                                                                  • Figure 21: Analysis of Interior Services Group turnover, 2012-13
                                                                                              • Morris & Spottiswood

                                                                                                  • Recent company activity
                                                                                                    • Figure 22: Financial analysis of Morris & Spottiswood, 2008-12
                                                                                                • Overbury

                                                                                                    • Recent company activity
                                                                                                      • Figure 23: Financial analysis of Overbury, 2009-13
                                                                                                  • Simons Group

                                                                                                      • Recent company activity
                                                                                                        • Figure 24: Financial analysis of Simons Group, 2009-13
                                                                                                    • Simpson (York)

                                                                                                        • Recent company activity
                                                                                                          • Figure 25: Financial analysis of Simpson (York), 2008-12
                                                                                                      • Styles & Wood

                                                                                                          • Recent company activity
                                                                                                            • Figure 26: Financial analysis of Styles & Wood, 2009-13
                                                                                                        • Wates Group

                                                                                                            • Recent company activity
                                                                                                              • Figure 27: Financial analysis of Wates Group, 2009-13
                                                                                                              • Figure 28: Financial analysis of Wates Interiors and Retail division revenues, 2009-13
                                                                                                          • Demand Structure

                                                                                                            • Key points
                                                                                                              • Retail construction activity
                                                                                                                • Decline in new construction dents shopfitting revenues
                                                                                                                  • Figure 29: Retail construction in the private sector, 2009-13
                                                                                                                • Retail sales
                                                                                                                  • Consumer confidence surge in summer 2013 not sustained through autumn
                                                                                                                    • Figure 30: UK consumer confidence monitor, 2013-14
                                                                                                                    • Figure 31: Households’ real disposable income, 2004-13
                                                                                                                  • Retail casualties demonstrate tough market conditions
                                                                                                                    • Retail sales still waiting for lift-off
                                                                                                                      • Figure 32: Total UK retail sales, 2009-13
                                                                                                                      • Figure 33: Total UK retail sales, by product segment, 2009 and 2013
                                                                                                                    • Large retailers increase dominance of total retail sales
                                                                                                                      • Figure 34: Retail sales, by type of outlet, 2009-13
                                                                                                                    • Online grows as share of total retail sales
                                                                                                                      • Figure 35: Non-store retail sales, 2009-13
                                                                                                                  • Forecast

                                                                                                                    • Key points
                                                                                                                      • Market size
                                                                                                                        • Growth to resume in 2014 as shopfitters report project pipelines up on 2013
                                                                                                                          • Figure 36: Forecast UK market for shopfitting, 2014-18
                                                                                                                        • ...but consolidation will continue in the short term among shopfitters and retailers
                                                                                                                          • Retail sales to increase slowly while focus on international expansion will curb domestic activity
                                                                                                                            • Retail construction to expand ahead of economic growth
                                                                                                                              • Figure 37: Forecast retail construction in the private sector, 2014-18
                                                                                                                            • Industry
                                                                                                                              • Mergers, acquisitions and industry consolidation
                                                                                                                                • Subcontracting will continue
                                                                                                                                  • Greater focus on international projects
                                                                                                                                    • Diversification to slow
                                                                                                                                    • Further Sources and Contacts

                                                                                                                                      • Trade associations
                                                                                                                                        • Trade magazines

                                                                                                                                        Companies Covered

                                                                                                                                        To learn more about the companies covered in this report please contact us.

                                                                                                                                        Shopfitting (Industrial Report) - UK - June 2014

                                                                                                                                        £995.00 (Excl.Tax)