The UK Electrical Goods Retailing report identifies consumer attitudes towards electrical goods, supply chain disruption, and multichannel specialists in the UK. This market report covers the market size, market forecast, market segmentation and industry trends for the Electrical Goods Retailing market in the UK.
Nearly two years on from the start of the pandemic, a significant level of demand for household electric goods remains online. The longer-term implications of this shift towards ecommerce in the electrical appliances market are already apparent, with the new audience and growing confidence among consumers, but also in the retailing landscape.
However, supply chain issues and price inflation means the market faces a period of great uncertainty. Although partially nullified by the fact that many purchases are triggered by necessity, households have been warned to expect the worst hit to real incomes since comparable records began 30 years ago. This will especially impact less affluent consumers, further exacerbating the polarisation of demand seen over the past two years.
At a company level, price hikes will undoubtedly limit, delay or change the shape of demand in the coming year. Any fallout could further fragment spending outside of the specialist sector, compounding those pressures on, particularly multichannel, player in the past two years. Moreover, expenditure on electrical goods is expected to fall as other areas of non-discretionary spending, such as clothing and travel, fully reopen after a period of restrained spending.
Nonetheless, disruption could in turn open up new opportunities in the market for more savvy retailers. There are two broad opportunities here, which share a great deal of overlap. Firstly, multichannel specialists can better leverage stores, regaining footfall by reinvesting in traditional face-to-face USPs, harnessing newer trends in-store and offering additional services, such as installation, repairs, and old product recycling. Building on this, specialists can cater to the need for value through credit, loyalty schemes, own-brand propositions, and newer initiatives such as circular business models.
Read on to discover more details or take a look at all of our UK Technology and Telecoms market research
Brands: Amazon, Currys, AO.com, Argos, John Lewis, The Very Group, Tesco, eBay, Apple Store, Asda, Sainsbury’s, Debenhams, Very.co.uk, Littlewoods, Co-Op, eBuyer, Euronics, Hughes Electrical, Buy It Direct, Brighthouse, Richer Sounds, Maplin Electronics, Game.
This report, written by Marco Amasanti, a leading analyst in the Retail sector, delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.
Spending on electrical goods slipped by 2% in 2021, as it stabilised after a bumper year of sales with the pandemic in 2020. The legacy of this is also set to eat into new demand and delay upgrade windows in the coming year; however, with inflation and supply chain problems, there is great uncertainty on the horizon.
Marco Amasanti
Retail Analyst
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