The UK Retail Ranking Report provides the most current and comprehensive analysis of the UK Retail Industry, focusing on sale densities, performance and innovations of leading retailers and categories within the UK retail market during the 2022/23 financial year.
Mintel’s UK Retail Market Research includes market share calculations for leading players in each sector, using either ONS sales data or consumer spending data where necessary and explores the contextual information and discusses the impact on market size, market forecast, market segmentation and industry trends for the UK retail market.
Key Topics Explored
- An exhaustive overview of the UK retail industry ecosystem, highlighting the top retailers and their responses to the cost-of-living crisis.
- Deep-dive into online sales trends from 2022 to 2024, highlighting the growing dominance of digital commerce.
- Unpack the strategic moves shaping the retail industry with detailed analyses of administrative actions, mergers, and acquisitions.
- Sector-wise retail insights focusing and comprehensive market share analyses of leading retailers.
- Unearth emerging consumer trends, loyalty schemes, and the impact of AI on customer service.
UK Retail Market Overview
The UK retail industry faces challenges due to high inflation and a focus on essential spending, which has continued to influence retail trends and strategies, particularly in terms of the shift towards online retailing and the importance of a multichannel approach. While overall retail sales are growing in value terms, there’s an underlying volume decline. Grocery sales are outpacing non-food demand, but categories like home goods are struggling. Clothing and beauty retail sectors are performing relatively well, with clothing specialists seeing a modest sales growth forecast for 2024. Miscellaneous specialists are expected to see a mild recovery with an anticipated increase in sales.
- UK high street retail market share: WH Smith is the largest retailer in the books, news and stationary sector by sales.
Markets Featured in this Report
Our UK retail market research report explores key retail sectors from furniture, homewares, health and beauty, home shopping, jewellery, mixed goods to opticians, taking you deeper into the strategies and performances of leading players.
Retail Sectors: Books, News and Stationery, Carpet, Charities, Clothing, DIY, Electrical and Telecom, Food, Footwear, Furniture and Homeware, Garden Centres, Health and Beauty, Home Shopping, Jewellery, Mixed Goods, Opticians, Recreation, Supermarkets and Convenience Stores, Miscellaneous.
Retailers Featured in this Report
Understand the UK retail market landscape overview with in-depth analysis of leading retailers like Tesco, Sainsbury’s, Amazon, Morrisons, Clarks, M&S, IKEA, Boots, Pandora WH Smith, Pets at Home, Carpetright, Tapi Carpets & Floors and many more, as well as prominent charity organisations.
Meet the Analyst
Natalie is a senior analyst with over 25 years experience researching and writing reports for Mintel’s European retail market coverage.
The 2024 UK retail rankings cover a period of major financial upheaval for both shoppers and retailers, with the best performers mainly having a strong value offer.
Natalie Macmillan
European Analyst – Retail
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The UK Retail Scene
- The top 10 in 2022/23
- Sainsbury’s reclaims second spot
- A very difficult discretionary market with value at the top of the agenda
- Grocery demand, in value terms, outpaces non-food demand in 2023
- Online demand helped by value credentials
- Online demand completes its rebalance post-pandemic
- Graph 1: online sales as a proportion of all retail sales, by month, 2022-24
- Non-food demand on the high street remains significantly down on pre-pandemic levels
- Graph 2: estimated share of total non-food sales, stores versus online and other non-store, 2018-23
- New faces create a more competitive space
- Loyalty remains high on the agenda…
- …as more retailers look to leverage data to boost margin
- As retailers look to leverage AI, trust is critical…
- …and at store-level it must be an area of investment
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Administrations, mergers and acquisitions
- Retailers feeling the squeeze of the cost-of-living crisis
- Retailers that have gone bust so far in 2024
- 2023 failures and acquisitions
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UK Retailing by sector
- Footwear specialists
- Sector introduction
- Footwear retailing within the UK retail sector
- Graph 3: specialist footwear retailers’ sales as percentage of total retail sales, 2014-23
- Footwear retailing market shares
- Graph 4: leading footwear retailers’ market shares, 2022
- Clarks shuttering and opening stores
- Kurt Geiger may be up for sale
- Books, news and stationery specialists
- Sector introduction
- Books, news and stationery retailing within the UK retail sector
- Graph 5: books, news and stationery specialists retailers’ sales as a percentage of total retail sales, 2014-23
- Top five generate 74% of sector sales
- Graph 6: leading books, news and stationery specialists’ market shares, 2022
- WH Smith will not be opening any more high street stores
- Loyalty scheme and game-changing last-minute on-demand greetings card service
- Cardzone-Clintons deal and Card Factory sales surge on back of strong store performance
- Carpet specialists
- Sector introduction
- Carpet retailing within the UK retail sector
- Graph 7: carpet specialists’ retailers’ sales as a percentage of total retail sales, 2014-23
- Top five generate 25% of sector sales
- Graph 8: leading carpet specialists’ market shares, 2022
- Carpetright restructuring after a slowdown in demand
- Tapi has made a bullish start to 2024 by continuing its programme of new store openings
- Charities
- Sector introduction
- Charity retailing within the UK retail sector
- Graph 9: number of charities* in England and Wales, 2014-24
- British Heart Foundation is the UK’s leading charity by retail income
- Graph 10: leading charities’ retail income sales, 2022
- Charity superstores and one-of-a-kind concepts
- Charity Super.Mkt celebrates one year anniversary with two new concept stores
- Clothing specialists
- Sector introduction
- Clothing retailing within the UK retail sector
- Graph 11: clothing specialists’ retailers’ sales as a percentage of total retail sales, 2014-23
- Top five generate 35% of sector sales
- Graph 12: leading clothing specialists’ market shares, 2022
- Primark rolling out click-and-collect and investing £100m in its stores as sales jump
- Next warns a slowdown in sales growth and broadens its online offering
- M&S positive annual results and enhanced digital shopping experience
- H&M new concept store and TK Maxx to open its second flagship store on Oxford Street
- DIY specialists
- Sector introduction
- DIY retailing within the UK retail sector
- Graph 13: DIY specialists’ retailers’ sales as a percentage of total retail sales, 2014-23
- Top five generate 85% of sector sales
- Graph 14: leading DIY specialists’ market shares, 2022
- Market leader Kingfisher performance dragged down by subdued B&Q sales
- Homebase reportedly up for sale again
- DIY retailers helping shoppers navigate the cost-of-living crisis
- B&Q store concepts to help DIY shoppers make more sustainable choices
- Speedy online delivery and AI-powered DIY assistance
- Electricals, IT & telecoms specialists
- Sector introduction
- Electricals, IT & telecoms retailing within the UK retail sector
- Graph 15: electricals, IT and telecoms specialists’ retailers sales as a percentage of total retail sales, 2014-23
- Top five generate 83% of sector sales
- Graph 16: leading electrical, IT & telecoms specialists’ market shares, 2022
- UK’s largest electrical specialist Currys not immune to the slowdown
- Currys takeover battle; store revamp; and e-waste initiative
- Currys spotlight trade-in and recycling initiatives
- Marks Electrical outperforming the market
- Apple sales bounce back after COVID downturn, but the cost-of-living crisis is catching up with the tech giant
- EE debut new experience-focused store format
- Food specialists (including off-licences and tobacconists)
- Sector introduction
- Food specialist retailing within the UK retail sector
- Graph 17: food specialists’ retailers sales as a percentage of total retail sales, 2014-23
- Top five Other food specialists’ generate 23% of sector sales
- Graph 18: leading Other food specialists’ market shares, 2022
- Top four off-licences generate 23% of sector sales
- Graph 19: leading off-licences’ market shares, 2022
- Greggs sales surge as it targets more store openings
- Hotel Chocolat bought by Mars and new out-of-town concept store
- Gail’s plans to open 35 new stores including its first in-store takeaway concept
- Holland & Barrett food revamp and café concession trial
- Majestic Wine store expansion, wine bar acquisition and 20-minute on-demand delivery service
- Garden centres
- Sector introduction
- Garden centre retailing within the UK retail sector
- Graph 20: garden products spending as a percentage of total retail sales, 2014-23
- Top five generate 61% of sector sales
- Graph 21: leading garden centres’ market shares, 2022
- Own brand products aimed at price-conscious gardeners
- RHS hits the high street
- Outlet stores, acquisitions and new loyalty scheme
- Furniture and homewares specialists
- Sector introduction
- Furniture and homewares retailing within the UK retail sector
- Graph 22: specialist furniture and homeware retailers’ sales as percentage of total retail sales, 2014-23
- Top four generate 44% of sector sales
- Graph 23: leading furniture and homeware retailers’ market shares, 2022
- Dreams and Bensons bolster online capabilities
- IKEA continues to be the standout performer
- Furniture Village Posts Encouraging Results
- Health and beauty specialists
- Sector introduction
- Health and beauty retailing within the UK retail sector
- Graph 24: health and beauty specialists retailers’ sales as % of total retail sales, 2014-23
- Top five generate 82% of sector sales
- Graph 25: leading health and beauty specialists, market shares, 2022
- Boots sales surge with digital the star performer
- Superdrug store expansion and price reductions
- Heightened demand for designer fragrances boosts The Fragrance Shop sales
- Sephora to launch more stores; Space NK up for sale; LloydsPharmacy liquidation
- Home shopping specialists
- Sector introduction
- Home shopping specialists within the UK retail sector
- Importance of online specialists has dropped since the pandemic
- Graph 26: sales as percentage of all retail sales, 2014-23
- Graph 27: sales as percentage of all retail sales, 2014-23
- Top five generate 82% of sector sales
- Graph 28: leading home shopping retailers’ market shares, 2022
- Amazon continues to lead and innovate
- Online fashion retailers seeing sales fall
- Ocado Retail up 7% in 2023 and cutting losses
- Very receives investment and partners with Amazon for AI services
- Jewellery specialists
- Sector introduction
- Jewellery retailing within the UK retail sector
- Graph 29: spending on jewellery estimated as (estimated) percentage of total retail sales, 2016-23
- Top five command 42% of sector spend
- Graph 30: leading jewellery retailers’ market shares, 2022
- Stable sales for Watches of Switzerland
- Pandora stands out in the middle market
- Astrid & Miyu buoyed by new store openings
- Miscellaneous specialists
- Sector introduction
- Miscellaneous retailing within the UK retail sector
- Graph 31: miscellaneous specialists retailers’ sales as % of total retail sales, 2014-23
- Top five generate 11% of sector sales
- Graph 32: leading miscellaneous specialists, market shares, 2022
- Halfords good first half of the year with needs-based categories showing strongest sales growth
- Pets at Home branching out from its usual retail park locations with compact high street shop format
- Mixed goods retailers
- Sector introduction
- Mixed goods retailing within the UK retail sector
- Graph 33: mixed goods retailers’ sales as percentage of all retail sales, 2014-23
- Top five generate 65% of sector sales
- Graph 34: leading mixed goods retailers’ market shares, 2022
- Robust performance at John Lewis
- Argos focuses on Sainsbury’s shop-in-shops
- Wilko’s demise
- Opticians
- Sector introduction
- Opticians within the UK retail sector
- Graph 35: consumer spending on optical goods as a percentage of total consumer spending, 2019-23
- Shifting towards digital, but stores remain key to the offering
- Opticians’ market shares
- Graph 36: leading opticians market shares, 2022/23
- Specsavers maintains market leadership
- Boots is challenging for number two spot
- EssilorLuxottica has become a big player
- Recreation specialists
- Sector introduction
- Specialist recreation retailing within the UK retail sector
- Graph 37: spending on sports and toys as (estimated) percentage of all retail sales, 2014-23
- Top five generate 81% of sector sales
- Graph 38: leading recreation retailers’ market shares, 2022
- Frasers posts profits jump after strong performance from Sports Direct
- JD Sports launches new loyalty app
- Decathlon rolls out buyback service nationwide
- Mixed performances from toy specialists
- Supermarkets, superstores and convenience stores
- Sector introduction
- Grocery retailing within the UK retail sector
- Graph 39: grocery retailers’ sales as percentage of all retail sales, 2014-23
- Top five generate 69% of sector sales
- Graph 40: leading grocery retailers’ market shares, 2022
- Inflation drives strong growth for much of the sector
- Tesco and Sainsbury’s have defended their position as the first and second largest grocers in the cost-of-living crisis
- Aldi and Lidl see rapid growth but profits hit at Lidl
- Asda and Morrisons: acquisitions lay foundations for future growth
- M&S outshines predictions with impressive growth
- Supermarkets expand partnerships in non-food to enhance the shopping experience and diversify ranges
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Appendix
- Technical notes and definitions
- The rankings
- Qualifications for inclusion
- Classifications
- Classifications and market shares
- Sector codes
- Year-ends
- Sales, profits, sales areas and densities
- Non-retail data
- Download the Databook
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