Household Storage 2017

NEW YORK, Dec. 18, 2017 /PRNewswire/ -- Household Storage 2017

Summary
Household storage market will remain robust, compared to other big-ticket home sectors, with steady growth of nearly 10% forecast over the next five years, primarily driven by volume growth. The discounters are set to benefit from the UK's period of economic uncertainty which is forcing consumers to tighten their spending, with the ONS calculating that real wages fell by about 0.5% in the three months to July 2017, compared to inflation of 2.6% y-o-y for the month of July.



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Mid-market players are most at risk from the premiumisation of ranges by discounters, which are aimed at consumers looking to trade down. Meanwhile, generation rent consumers move house more regularly, and therefore require small household items more often to complement existing features of new properties. This generation will be the driving force behind volume growth in the household storage sector.

In household storage, the discounters are set to benefit from this as consumers are open to trading down on non-essential items. Consumers will also look to defer big-ticket spending, choosing to purchase a clothing rail rather than a full-size wardrobe for example. Existing players must ensure prices remain competitive at a time when the discounters and value players are rapidly expanding into areas such as London and the South East.

Mid-market players are most at risk from the premiumisation of ranges by discounters, which are aimed at consumers looking to trade down. Mid-market players must ensure the quality of their products is clearly highlighted in comparison to competitors, and that they have a superior instore experience. Messy and empty shelves will see retailers lose out on sales to retailers such as B&M which attracts customers who know they will be able to find whatever they need instore.

The report "Household Storage 2017", provides comprehensive insight into and analysis of the UK storage market, the major players, the prevailing trends, hot issues, consumer motivations, strategies for success, and opportunities for future growth. Consumer data is based on our 2,000 person survey using a panel of nationally representative shoppers.

In particular, this report provides the following -
- An analysis of the key strategies for success in this market, as well as the most important market issues.
- Detailed data on the size of the market, the key drivers, and how spend is distributed.
- Profiles of the major players, and analysis of the key trends driving the market.
- Insight on who's consuming, what they are buying, where they are buying, and what makes consumers purchase.

Companies mentioned in this report:IKEA, Argos, Amazon, Wilko, Dunelm, B&M, Heron Foods, Kiddicare, B&Q, The Range, ASDA, George, Homebase, Tesco, Sainsbury's, Morrisons, Poundstretcher, Poundland

Scope
- The household storage market is forecast to grow 1.0% in 2017; the current dampened housing market limits growth within this category. The market is forecast to pick up once again in 2019 once the economy recovers.
- The total household storage market is forecast to grow by 9.8% over the next five years, primarily driven by volume as inflation levels rise slowly across the category.
- General storage, with the greatest range of uses, will grow the fastest of all the storage categories over the next five years, at 13.1%.
- The category with the lowest growth over the next five years is entertainment and office, growing 5.2%, as CDs and DVDs are overtaken by music and film streaming.
- Household storage has a high online penetration compared with the average for homewares items at 12.7% for 2017. Storage items are largely functional and consumers do not feel the need to see these items in person.

Reasons to buy
- Use our five-year forecasts to 2022 for the household storage market to understand which will be the best performing subcategories and utilise sector penetrations to help form an effective growth strategy.
- Understand household storage shoppers' purchasing habits and preferences, and how to drive spend.
- Consider our analysis of hot issues, strategies for success, and opportunities for growth to understand the future of the market and potential for household storage retail.
- Understand household storage retailers' strengths and weaknesses and their market share forecasts for 2017; and also learn which smaller players we think are future market share winners.

Read the full report: https://www.reportlinker.com/p05251051

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