Table of Contents
Introduction
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- Research methodology
- Consumer research
- Lifestage and Special Groups
- ACORN
- Abbreviations
Premier Insight
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- Women are most active shoppers and most important decision maker to influence
- Explore and exploit new channels
- Spending priorities focused on the home and necessities
- Better targeting and customer satisfaction among high spending optimists
- Value retailers eroding middle market
Executive Summary
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- Industry overview
- Major retail groups
- Retail profitability
- Category reviews
- Food retailers
- Mixed goods retailers
- Clothing and footwear
- Household goods retailers
- Furnishings retailers
- Hardware/DIY retailers
- Electrical retailers
- Other non-food retailers
- Booksellers and stationers
- Chemists and drugstores
- Miscellaneous non-food specialists
- Non-store retailing
- Home shopping
- Key findings from consumer research
- Spending priorities
Retail Industry Structural Overview
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- Retail sales trends
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- Figure 1: Retail industry, by trading category, 2004
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- Figure 2: Retail industry sales growth, by trading category, 2000-04
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- Figure 3: Retail industry changes in proportion of sales, by trading category, 2000-04
- Annual growth rates – total retail sales
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- Figure 4: Value and volume growth in total retail sales, 2000-04
- Annual growth rates – total food retail sales
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- Figure 5: Value and volume growth in food stores, 2000-04
- Annual growth rates – total non-food retail sales
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- Figure 6: Value and volume growth in non-food stores, 2000-04
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- Figure 7: Value and volume growth in non-specialised non-food stores, 2000-04
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- Figure 8: Value and volume growth in clothing and footwear stores, 2000-04
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- Figure 9: Value and volume growth in household goods stores, 2000-04
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- Figure 10: Value and volume growth in other non-food stores, 2000-04
- Annual growth rates – total non-store retail sales
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- Figure 11: Value and volume growth in other non-store retailing, 2000-04
- Major retail groups
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- Figure 12: Major retail companies’ UK sales, 2002/03 and 2003/04
- Trends in profitability
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- Figure 13: Comparison of changes in net margin for major retailer groups, by category, financial year 2002/03 to 2003/04
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- Figure 14: Proportion of retailers with categories making losses and low net margins, 2001-04
Food Retailers
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- Companies reviewed
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- Figure 15: Leading food retailers, 2004
- Main changes of ownership
- The Safeway disposal programme – March 2005 update
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- Figure 16: Morrisons store disposals, 2004
- Companies with no breakdown of UK sales
- Companies below the turnover threshold
- Symbol groups
- Other symbol groups
- Wholesaler-supported fascias for independents
- Forecourt retailers
- Retailers’ sales and performance
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- Figure 17: Food retailers’ sales, 2001-04
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- Figure 18: Indexed growth in food retailers’ sales, 2001-04
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- Figure 19: Food retailers’ operating profits, 2001-04
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- Figure 20: Indexed growth in food retailers’ operating profits, 2001-04
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- Figure 21: Food retailers’ operating margins, 2001-04
- Summary trends in profitability
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- Figure 22: Comparison of changes in net margin for major food retailers, 2001/02-2003/04
- Trends in outlet numbers
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- Figure 23: Outlet numbers operated, by leading food retailers, 2001-04
- Review of Christmas 2004
- Company analysis
- Tesco
- Sainsbury
- Asda
- Morrisons incorporating Safeway
- Co-ops
- Somerfield incorporating Kwik Save
- Marks & Spencer
- Waitrose
- Iceland
- Thresher
- Aldi
- Netto
- Greggs
- Budgens
- TM Group incorporating Martin’s, Forbuoys and Dillons
- Farmfoods
- Holland & Barrett
- Booths
- Thorntons
- Unwins
- Oddbins
- Majestic Wine
- Issues for the future
- Growing dominance of superstore groups…
- …leaves other businesses as top-up shops
- Expansion of major multiples into convenience weakens independents
- Multi-format currently first, multichannel second
- Increased emphasis on non-food by Tesco and Asda
Mixed Goods Retailers
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- Companies reviewed
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- Figure 24: Mixed goods retailers, 2004
- Main changes of ownership
- Companies with no breakdown of UK retail sales
- Companies below the turnover threshold
- Retailers’ sales and performance
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- Figure 25: Mixed goods retailers’ sales, 2001-04
- Figure 26: Indexed growth in mixed goods retailers’ sales, 2001-04
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- Figure 27: Mixed goods retailers’ operating profits, 2001-04
- Figure 28: Indexed growth in mixed goods retailers’ operating profits, 2001-04
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- Figure 29: Mixed goods retailers’ operating margins, 2001-04
- Summary trends in profitability
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- Figure 30: Comparison of changes in net margin for other non-food specialists, 2001/02-2003/04
- Trends in outlet numbers
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- Figure 31: Outlet numbers operated, by leading mixed goods retailers, 2001-04
- Review of Christmas 2004
- Company analysis
- Boots the Chemists
- Woolworths
- John Lewis Partnership – department stores
- Co-operative movement – department stores and non-food retailing
- House of Fraser
- Selfridges
- Harrods
- Mothercare
- Allders
- Fenwick incorporating Bentalls
- Brown & Jackson
- TJ Hughes
- Poundland
- Beatties
- TJ Morris, trading as Home Bargains
- Beales
- Issues for the future
- Mixed goods and variety stores striving for differentiated offer
- Department stores striving to maintain premium niche
- Home shopping an opportunity for department stores
Chemists and Drugstores
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- Companies reviewed
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- Figure 32: Chemists and drugstores, 2004
- Main changes of ownership
- Companies below the turnover threshold
- Retailers’ sales and performance
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- Figure 33: Chemists and drugstores’ sales, 2001-04
- Figure 34: Indexed growth in chemists and drugstores’ sales, 2001-04
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- Figure 35: Chemists and drugstores’ operating profits, 2001-04
- Figure 36: Indexed growth in chemists and drugstores’ operating profits, 2001-04
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- Figure 37: Chemists and drugstores’ operating margins, 2001-04
- Summary trends in profitability
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- Figure 38: Comparison of changes in net margin for leading health and beauty retailers, 2001/02-2003/04
- Trends in outlet numbers
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- Figure 39: Outlet numbers operated, by leading chemists and drugstores, 2001-04
- Review of Christmas 2004
- Company analysis
- Lloyds Pharmacy
- Superdrug
- Moss Pharmacy
- Rowlands
- Co-operative Group Pharmacy – incorporating NCC
- The Body Shop
- Savers Health & Beauty
- The Perfume Shop
- Issues for the future
- Deregulation – threat or opportunity?
- Pharmacists’ importance in the community healthcare team
- Non-prescription sales under price pressure
- Specialist fragrance stores’ race for space
Clothing and Footwear Retailers
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- Companies reviewed
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- Figure 40: Clothing and footwear retailers, 2004
- Main changes of ownership
- Companies above the turnover threshold but with an incomplete data set for the review period
- Companies with no breakdown of UK retail sales
- Companies below the turnover threshold
- Retailers’ sales and performance
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- Figure 41: Clothing and footwear retailers’ sales, 2001-04
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- Figure 42: Indexed growth in clothing and footwear retailers’ sales, 2001-04
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- Figure 43: Clothing and footwear retailers’ operating profits, 2001-04
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- Figure 44: Indexed growth in clothing and footwear retailers’ operating profits, 2001-04
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- Figure 45: Clothing and footwear retailers’ operating margins, 2001-04
- Summary trends in profitability
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- Figure 46: Comparison of changes in net margin for major clothing retailers, 2001/02-2003/04
- Trends in outlet numbers
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- Figure 47: Outlet numbers operated, by leading clothing and footwear retailers, 2001-04
- Review of Christmas 2004
- Company analysis
- Marks & Spencer
- Debenhams
- Next
- Arcadia
- Matalan
- Bhs
- Primark
- New Look
- TK Maxx
- Alexon Group
- The Peacock Group
- River Island
- H&M
- Adams Childrenswear
- Mosaic
- Etam
- Stylo
- Monsoon incorporating Accessorize
- Edinburgh Woollen Mill
- Ethel Austin
- MK1
- Mackays
- Harvey Nichols
- Moss Bros
- Stead & Simpson
- Austin Reed/Country Casuals
- Shoe Studio Group
- French Connection
- Zara
- Shoe Zone
- The Officers Club
- Brantano
- Internacionale
- USC
- Kurt Geiger
- QS incorporating BeWise
- Schuh
- Shoefayre
- Issues for the future
- Too big for their niches?
- But fashion houses provide insulation
- Menswear headed back into the doldrums?
- Boys’ stores a potential niche
- Footwear should be fun again
- Multichannel opportunities in future
- Increased competition from supermarkets
- Supply chain issues
Furnishings Retailers
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- Companies reviewed
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- Figure 48: Furnishings retailers, 2004
- Main changes of ownership
- Companies below the turnover threshold
- Companies with no breakdown of UK retail sales
- Retailers’ sales and performance
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- Figure 49: Furnishings retailers’ sales, 2001-04
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- Figure 50: Indexed growth in furnishings retailers’ sales, 2001-04
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- Figure 51: Furnishings retailers’ operating profits, 2001-04
- Figure 52: Indexed growth in furnishings retailers’ operating profits, 2001-04
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- Figure 53: Furnishings retailers’ operating margins, 2001-04
- Summary trends in profitability
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- Figure 54: Comparison of changes in net margin for leading furniture and furnishings retailers, 2001/02-2003/04
- Trends in outlet numbers
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- Figure 55: Outlet numbers operated, by leading furnishings retailers, 2001-04
- Review of Christmas 2004
- Company analysis
- IKEA
- MFI
- Homestyle
- Marks & Spencer
- DFS
- Carpetright
- Courts
- Laura Ashley
- Dunelm
- HomeForm
- Allied Carpets
- ScS
- Furniture Village
- Habitat
- Land of Leather
- Issues for the future
- Price deflation and product quality
- Losses cannot be sustained indefinitely
- Competition increasing
- Style and design for contemporary living
- Consumer confidence weakening
Hardware/DIY Retailers
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- Companies reviewed
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- Figure 56: Hardware/DIY retailers, 2004
- Main changes of ownership
- Companies below the turnover threshold
- Retailers’ sales and performance
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- Figure 57: Hardware/DIY retailers’ sales, 2001-04
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- Figure 58: Indexed growth in hardware/DIY retailers’ sales, 2001-04
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- Figure 59: Hardware/DIY retailers’ operating profits, 2001-04
- Figure 60: Indexed growth in hardware/DIY retailers’ operating profits, 2001-04
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- Figure 61: Hardware/DIY retailers’ operating margins, 2001-04
- Summary trends in profitability
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- Figure 62: Comparison of changes in net margin for major DIY retailers, 2001/02-2003/04
- Trends in outlet numbers
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- Figure 63: Outlet numbers operated, by leading hardware/DIY retailers, 2001-04
- Review of Christmas 2004
- Company analysis
- B&Q
- Homebase
- Wickes
- Focus DIY
- Topps Tiles
- Brewers
- Robert Dyas
- Issues for the future
- Heavy side competitive environment
- Softer end shake-up unlikely either
- No encroachment threat
- Foreign invaders at the door?
- Economy is biggest threat to sector
Electrical Retailers
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- Companies reviewed
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- Figure 64: Electrical retailers, 2004
- Main changes of ownership
- Companies below the turnover threshold
- Companies with no breakdown of UK retail sales
- Mobile phone retailers
- Retailers’ sales and performance
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- Figure 65: Electrical retailers’ sales, 2001-04
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- Figure 66: Indexed growth in electrical retailers’ sales, 2001-04
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- Figure 67: Electrical retailers’ operating profits, 2001-04
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- Figure 68: Indexed growth in electrical retailers’ operating profits, 2001-04
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- Figure 69: Electrical retailers’ operating margins, 2001-04
- Summary of changes in profitability
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- Figure 70: Comparison of changes in net margin for leading electrical goods retailers, 2001/02-2003/04
- Trends in outlet numbers
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- Figure 71: Outlet numbers operated, by leading electrical retailers, 2001-04
- Review of Christmas 2004
- Company analysis
- Dixons Stores Group
- Currys
- PC World
- Dixons
- The Link
- Dixons Stores Group – overview
- Comet
- HMV
- Game
- Virgin Retail
- Powerhouse
- Maplin
- Richer Sounds
- Millers
- Issues for the future
- Department store generalists seeking shelter of niches…
- ...but grocery superstores providing a growing threat
- Service standards continue to cause concern
- Multichannel must be an opportunity not a threat
- Entertainment and games
- Consumer confidence likely to be weaker in 2005
Booksellers and Stationers
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- Companies reviewed
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- Figure 72: Booksellers and stationers, 2004
- Main changes of ownership
- Companies below the turnover threshold
- Retailers’ sales and performance
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- Figure 73: Booksellers and stationers’ sales, 2001-04
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- Figure 74: Indexed growth in booksellers and stationers’ sales, 2001-04
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- Figure 75: Booksellers and stationers’ operating profits, 2001-04
- Figure 76: Indexed growth in booksellers and stationers’ operating profits, 2001-04
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- Figure 77: Booksellers and stationers’ operating margins, 2001-04
- Summary trends in profitability
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- Figure 78: Comparison of changes in net margin for leading booksellers and stationers, 2001/02-2003/04
- Trends in outlet numbers
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- Figure 79: Outlet numbers operated, by leading booksellers and stationers, 2001-04
- Review of Christmas 2004
- Company analysis
- WH Smith
- Waterstone’s
- Clinton Cards incorporating Birthdays
- Staples incorporating Office World
- Borders
- Ottakar’s
- Blackwell’s
- Ryman/Partners
- Retail issues for the future
- Delivering range authority…
- …and attractive browsing environments
- Stores versus online
- Winners and losers in bookselling
- Cards and stationery consolidation creating mega players
Miscellaneous Non-Food Specialist Retailers
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- Companies reviewed
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- Figure 80: Miscellaneous non-food specialist retailers, 2004
- Main changes of ownership
- Companies with no breakdown of UK sales
- Companies below the turnover threshold
- Garden centres
- Jewellers
- Miscellaneous non-food retailers
- Toys and games
- Sports goods
- Retailers’ sales and performance
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- Figure 81: Miscellaneous non-food specialist retailers’ sales, 2001-04
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- Figure 82: Indexed growth in miscellaneous non-food specialist retailers’ sales, 2001-04
- Figure 83: Miscellaneous non-food specialist retailers’ operating profits, 2001-04
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- Figure 84: Indexed growth in miscellaneous non-food specialist retailers’ operating profits, 2001-04
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- Figure 85: Miscellaneous non-food specialist retailers’ operating margins, 2001-04
- Summary trends in profitability
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- Figure 86: Comparison of changes in net margin for other non-food specialists, 2001/02-2003/04
- Trends in outlet numbers
- Jewellers
- Sports goods
- Others
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- Figure 87: Outlet numbers operated, by leading miscellaneous non-food specialist retailers, 2001-04
- Review of Christmas 2004
- Company analysis
- Non-food specialists – Garden centres
- Wyevale
- Jewellers and accessories
- Signet plc
- Goldsmiths
- Claire’s
- Warren James
- Miscellaneous
- Argos
- Wilkinsons
- Sports and leisure
- JJB Sports
- Sports Soccer/Sportsworld
- John David Group
- Blacks Leisure
- All:sports
- Foot Locker
- Toys and games
- Toys ‘R’ Us
- Early Learning Centre
- Disney Stores
- Other non-food specialists
- Halfords
- Pets at Home
- Jessops
- Retail issues for the future
- Garden centres
- Jewellers
- Sports goods retailers
- Toys and games retailers
Home Shopping Retailers
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- Companies reviewed
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- Figure 88: Home shopping retailers, 2004
- Main changes of ownership
- Companies with no breakdown of UK retail sales
- Companies with incomplete data set
- Companies below the turnover threshold
- Retailers’ sales and performance
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- Figure 89: Home shopping retailers’ sales, 2001-04
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- Figure 90: Indexed growth in home shopping retailers’ sales, 2001-04
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- Figure 91: Home shopping retailers’ operating profits, 2001-04
- Figure 92: Indexed growth in home shopping retailers’ operating profits, 2001-04
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- Figure 93: Home shopping retailers’ operating margins, 2001-04
- Summary trends in profitability
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- Figure 94: Comparison of changes in net margin for major home shopping companies, 2001/02-2003/04
- Review of Christmas 2004
- Company analysis
- Shop Direct Group
- Next Directory
- N Brown
- Grattan and Freemans
- Empire/Redcats Brands
- Avon Cosmetics
- QVC
- Direct Wines
- Kleeneze Group
- Findel
- Lakeland
- Thermawear
- Issues for the future
- Agency mail order
- New generation of home shopper
- So how good was Christmas 2004 for online retailers?
The Consumer
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- Key findings
- Spending priorities
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- Figure 95: Financial prospects, 2001-05
- Lifestage cycles influence outlook
- Affluent families have optimistic outlook
- Uncertainty among young affluents
- Retirement offers mixed outlook
- Young less affluent adults have little to look forward to
- Further analysis by socio-demographic characteristics
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- Figure 96: Financial prospects, by gender, age and socio-economic group, January 2005
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- Figure 97: Expenditure priorities, 2004 and 2005
- DIY and gardening reflect home-centric outlook
- Holidays retain prime position as high priority
- Out-of-home eating of declining importance
- Other home-centred priorities such as furniture and carpets and major renovations also feature in consumers’ priorities
- Clothing and footwear
- Financial priorities
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- Figure 98: Highest expenditure priorities, by gender, age and socio-economic group, January 2005
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- Figure 99: Other important expenditure priorities, by gender, age and socio-economic group, January 2005
- Expenditure priorities by financial outlook
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- Figure 100: Spending priorities by finanical outlook, January 2005
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- Figure 101: Correlation analysis, by economic outlook and expenditure categories, January 2005
The Consumer – Detailed Consumer Demographics
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- Figure 102: Financial prospects, by lifestage, presence of children and marital status, January 2005
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- Figure 103: Financial prospects, by region and Mintel’s Special Groups, January 2005
- Spending priorities
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- Figure 104: Spending priorities for 2005, by lifestage, presence of children and marital status, January 2005
- Figure 105: Spending priorities for 2005, by region and Mintel’s Special Groups, January 2005
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- Figure 106: Spending priorities for 2005, by lifestage, presence of children and marital status, January 2005
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- Figure 107: Spending priorities for 2005, by region and Mintel’s Special Groups, January 2005
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