United Kingdom (UK) Department Stores Retailing Market Trends, Analysis, Key Players and Forecast to 2027

United Kingdom (UK) Department Stores Retailing Market Trends, Analysis, Key Players and Forecast to 2027

Summary

The UK Department Stores Retailing report offers comprehensive insight and analysis of the department stores channel in the UK, the main trends and hot issues, major players and consumer attitudes.

The UK Department Stores Retailing market is forecast to grow between 2022 and 2027. This is being driven by London-based locations and the tourism appeal that locations such as Harrods, Selfridges and Harvey Nichols have, particularly among those from the US, Middle East and Asia. Indeed, international arrivals are forecast to overtake 2019 levels by 2024, with many likely to flock to the capital. Department stores consequently are elevating their stores to appeal to these shoppers seeking luxury goods.

Key Highlights

Clothing & footwear is forecast to contribute nearly 50% to the UK Department Store Retailing market by 2027, however it is not expected to recover to the heights of 2017.
Department stores have an opportunity to utilise both online and offline platforms to succeed, events and customer experiences that go across multiple sectors giving them a USP compared to other specialists.
From 2022, consumer shopping habits began to normalise, with the offline channel strengthening once again as footfall began to improve. However, the online market has not shrunk to its pre-pandemic size as the improvements and investments into the online channel have ensured that consumers are using both channels rather than just shopping instore

Reasons to Buy

• Use our in-depth consumer and market insight to learn about the growth of different sectors in the department stores market.
• Understand where consumers shop and why they choose to shop at various department stores different products to capitalise on the growth in the department stores market.
• Discover the trends in the department stores market to better understand how to adapt and stay ahead of the latest changes in consumer behaviour