The threat of counterfeit grocery products is a major challenge hindering the market growth. The UK grocery retail market is facing a significant threat from counterfeits, which are widely available in various product categories, including FMCGs and electronics. The adoption of beacon technologies is expected to increase customer interaction and have a positive impact on the growth of the UK grocery retail market during the forecast period. Additionally, retailers and supermarkets in the UK are introducing technologies like 3D sensors to enhance safety and curb the spread of COVID-19. The prevalence of smartphones has led to the development of IoT devices like Beacons, which enable location-based services and precise targeting for department stores. Innovative store layouts and offerings to amplify customer experience is an ongoing trend driving market growth. The use of both traditional and online channels for shopping is increasing in the country, putting pressure on distribution channels like department stores, specialty stores, hypermarkets, and supermarkets to adopt innovative strategies. A holistic analysis of drivers, trends, and challenges will help stakeholders in the value chain refine their marketing strategies to gain a competitive advantage. Our researchers analyzed the data with 2022 as the base year, along with the key trends, and challenges. To get additional information about the market, Buy Report Key Trend and Challenge Grocery Retail Market in UK Market: Overview During Christmas, competitive pricing and marketing campaigns drove the vendor's revenue, indicating that such strategies will play a significant role in the market's growth during the forecast period. Volume discounts and seasonal sales are also offered, attracting more people to department stores.
This allows consumers to save 7%-15% on complementary offerings and is attractive to them. Rising promotions, including bundled prices, volume discounts, and seasonal sales is a prominent factors driving the market growth. Retail stores have increasingly adopted product bundling as a strategy. It also includes an in-depth analysis of drivers, trends, and challenges. This grocery retail market in the UK report extensively covers market segmentation by Product (food and beverages and non food) and Distribution Channel (hypermarkets and supermarkets, convenience stores, discount stores, online, and others). In 2017 the size of the market was valued at USD 217 billion. The Grocery Retail Market size in the UK is projected to increase by USD 52.54 billion and the market size is estimated to grow at a CAGR of 3.83% between 20.
0 kommentar(er)
