talkingtrade
primarily a food retailer. This is the area in which the ONS will not,
quite reasonably, speculate. Life is messy. All sorts of retailers sell all sorts of things. But as an extreme estimate, it’s possible that non-food online could have accounted for as much as £50 billion in 2017, out of a total non-food spend of £207 billion. That’s just under a quarter, which is a big scary number. But then half of that is spent with retailers that operate both online and in shops. So if
that is correct, then seven out of eight pounds still end up, one way or another, in the tills of retailers with shops. And it’s probably not a coincidence that the most recently published shop vacancy rate from LDC (Local Data Company) says that one in eight shops is vacant – and that figure has been stable for a couple of years. So where is housewares in all this?
Embedded in the category of ‘household goods’. In that segment, online sales have not
quite trebled in a decade, to just over 11% - well below the leading sectors of electronics and clothing. The UK leads the world among major
economies in the amount we spend online. Here, overall, it is just over one in six pounds spent. In the US, it’s about one in eleven. Yet the vast majority of our shops are still
in business, and half of the business that is online is handled by shops with multiple sales channels. Life is tough on the high street. But given
the shifts in spending that have already occurred, retailers seem to have coped with remarkable resilience.
• Michael Weedon is managing director of exp2 Ltd, which carries out projects including research and report creation for clients in the retail industry, including data providers, place managers and individual
retailers. He
established epx2 in 2016 from a leading trade association role.
Michael’s contact details are: Mobile: 07411 763 551 Email:
Michael.weedon@exp2.co.uk Tw: @michaelweedon
The business-to-business website for housewares retailers and their suppliers
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march/april 2018
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