Stay ahead of the curve in the electrical appliance retail market with Mintel’s UK electrical goods retail market report 2023. Our full report is packed with consumer-led market intelligence, the latest trends and consumer behaviours affecting your industry. Get a 360° view of the electrical goods retail market including market size, share and forecasted growth to help you align your business strategy with the needs of your audience.
Key Issues Covered in this Report
- The short-, medium- and long-term impact of the cost-of-living crisis on the electrical goods market, including changes in buying behaviours
- Opportunities from this disruption and how retailers are performing and innovating
- What electrical products are bought and how purchasing activity has changed
- How much consumers spend on electrical goods
- Where and how electrical goods are bought
- What factors prompt consumers to choose one retailer over another
- Electrical good buying behaviours and interests
UK Electrical Goods Retail Market Overview
The electrical appliance retail market was still somewhat insulated by consumers entering to replace worn out/broken items, but for less urgent purchases, financial pressures saw many holding onto their current electricals to wait for discounts, or opting for repair services to extend product lifespan.
As high living costs remain at play, financial prudence will likely continue, with the weak housing market serving as another hindrance to the path to recovery. There is also a risk of consumers prioritising other spending areas when their finances improve, with holidays high up on the agenda, potentially directing spending away from electricals.
The recovery of consumer confidence provides some optimism for the market, with almost half of electrical buyers planning to spend more on electricals in the coming year. The second-hand market, rather than being seen as a risk, can be turned into an added revenue stream, providing consumers with more flexibility in buying while tapping into the circular economy.
Purchase the full report for a complete overview of the UK electric goods retailing market, including market dynamics, consumer insights and opportunities for future growth.
Report Scope
This report uses market and consumer research and key retailer metrics to give an overview of the UK electrical goods market. The electrical goods market is a diverse one in terms of both the products sold and the retailers that sell them. The product market is split into four key segments:
- Household appliances – Consisting of major appliances, such as refrigerators and washing machines, and small appliances such as coffee machines and kettles.
- Audio-visual and photographic equipment – Consisting of audio-visual products such as TVs and stereo systems, and photographic equipment, such as digital cameras and projectors.
- Computing and telecoms – Consisting of information processing equipment such as personal computers and tablets, and telephone and telefax equipment, such as mobile and home phones.
- Personal care appliances – Consisting of electrical appliances of personal care, such as electric razors and hairdryers.
Expert Analysis from a Retail Specialist
This report, written by Sam Nguyen, a leading retail analyst, delivers in-depth commentary and analysis to highlight current trends in the UK electrical goods retail market and add expert context to the numbers.
2023 was another challenging year for electricals, but the recent improvement in purchasing activity and consumer confidence provide some optimism for 2024.
Sam Nguyen
Retail Analyst
Collapse All
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- Key issues covered in this Report
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Executive Summary
- Opportunities for the electrical goods retailing market
- Market dynamics and outlook
- Graph 1: core electrical goods segments as a % of the total market, 2018-23
- Graph 2: electrical goods specialists’ sector sales (including VAT), 2019-23
- Graph 3: number of property residential transactions with a value of over £40,000 completed in the UK, 2019-24
- Graph 4: the financial wellbeing index, 2016-24
- What consumers want and why
- Graph 5: engagement with the electrical goods market, by household income, 2022 and 2023
- Graph 6: types of electrical products purchased in the past 12 months, 2022 and 2023
- Graph 7: spending on electrical goods in the last 12 months, 2023
- Graph 8: channels of purchase, 2019-23
- Graph 9: retailers used, 2023
- Graph 10: electrical goods buying behaviour, 2023
- Graph 11: electrical goods buying behaviour, 2023
- Graph 12: drivers to choose one retailer over another, 2023
- Graph 13: attitudes towards electrical goods, 2023
- Retailer activity
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Market Dynamics
- Market size
- Graph 14: consumer spending on all electrical goods, 2018-23
- Market forecast
- Market segmentation
- Graph 15: core electrical goods segments as a % of the total market, 2018-23
- Channels of distribution
- Graph 16: estimated distribution of spending on electrical goods, 2022 and 2023
- Specialist sector size
- Graph 17: electrical goods specialists’ sector sales (including VAT), 2019-23
- Graph 18: average weekly retail sales in the electrical household appliance specialists and computers and telecommunications specialists categories, 2022-24
- Macro-economic factors
- Graph 19: annual % change in all retail sales, electrical household appliance specialists and computers & telecoms equipment specialists, non-seasonally adjusted value series, 2022-24
- Graph 20: annual % change in all retail sales, electrical household appliance specialists and computers & telecoms equipment specialists, non-seasonally adjusted volume series, 2022-24
- Graph 21: CPI inflation rate, 2022-24
- Graph 22: CPIH vs Wage growth monthly percentage change, January 2020-February 2024
- Graph 23: number of property residential transactions with a value of over £40,000 completed in the UK, 2019-24
- Graph 24: England housing tenure, 2018/19 to 2022/23
- Graph 25: the financial wellbeing index, 2016-24
- Graph 26: the financial confidence index, 2016-24
- Social, environmental and legal factors
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What Consumers Want and Why
- Electricals purchased
- Graph 27: engagement with the electrical goods market, 2019-2023
- Graph 28: engagement with the electrical goods market, by household income, 2022 and 2023
- Graph 29: types of electrical products purchased in the past 12 months, 2022 and 2023
- Graph 30: purchasing activity of entertainment electrical goods of parents with kids aged 18 and under, 2022 and 2023
- Graph 31: types of electrical products purchased in the past 12 months, by gender, 2023
- Graph 32: electrical products purchased in the past 12 months, by age and household income, 2023
- Graph 33: repertoire analysis of electricals bought, 2023
- Spending on electrical goods
- Graph 34: spending on electrical goods in the last 12 months, 2023
- Graph 35: spending on electrical goods, by household income, 2023
- Graph 36: electricals purchased, by spending level, 2023
- Channels of purchase
- Graph 37: channels of purchase, 2019-2023
- Graph 38: online purchasing, 2019-23
- Graph 39: in-store purchasing, 2019-23
- Graph 40: electricals purchased, by channel of purchase, 2023
- Graph 41: channels of purchase, 2023
- Retailers used for electrical goods
- Graph 42: types of retailer used, 2022 and 2023
- Graph 43: retailers used, 2023
- Graph 44: average age and household income of leading electrical retailer’s customer bases, 2023
- Graph 45: spending on electrical goods, by type of retailers used, 2023
- Graph 46: repertoire analysis of retailers used, 2022 and 2023
- Electrical goods buying behaviour
- Graph 47: electrical goods buying behaviour, 2023
- Graph 48: Black Friday electrical purchasing, 2022 and 2023
- Graph 49: waiting for a product to be on sale vs buying a cheaper brand, by household income, 2023
- Purchase drivers
- Graph 50: drivers to choose one retailer over another, 2023
- Graph 51: “cheaper prices” as an important purchase driver, by electrical purchase, 2023
- Graph 52: drivers to choose one retailer over another, by age and household income, 2023
- Graph 53: drivers to choose one retailer over another, by type of retailers used, 2023
- Graph 54: “availability of next day delivery” as an important purchase driver, by electrical purchase, 2023
- Attitudes towards electrical goods
- Graph 55: attitudes towards electrical goods, 2023
- Graph 56: technology products in the household, 2023
- Graph 57: interest in lease schemes which include the option to trade in/upgrade products at the end, by electricals purchased, 2023
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Retailer Activity
- Leading specialists
- Leading non-specialists
- Market share
- Online
- Graph 58: leading online retailers’ estimated share of online spending on electrical goods, 2023
- Launch activity and innovation
- Advertising and marketing activity
- Graph 59: total above-the-line, online display and direct mail advertising expenditure by UK electrical retailers, 2019-23
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Brand Research
- Graph 60: attitudes towards and usage of selected brands, 2024
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Appendix
- Supplementary data
- Graph 61: total above-the-line, online display and direct mail advertising expenditure by UK electrical retailers, by media type, 2022 and 2023
- Market forecast data and methodology
- Report scope and definitions
- Methodology
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