skip to main content
Find Insight DIY on
* * *

UK DIY News

KPMG/IPSOS Retail Think Tank: Cautiously Optimistic For 2020

Spending retail leisure consumer 725 x 500.jpg

The UK’s retail industry is likely to grow by at least +1.0% in 2020, despite weaker food sales, according to the latest predictions from the KPMG/Ipsos Retail Think Tank.

  • The UK retail sector is predicted to grow by at least +1.0% in 2020, following three and half years of pain.
  • Perceived certainty in the UK political landscape is likely to increase consumer confidence and kick start spending.
  • Non-food retailers that have adapted well over the tougher years should now feel the benefits of what the RTT members describe as a ‘turning point’ for the retail sector.
  • A focus on communicating retailer values is considered to be a key part of any successful growth strategy next year.
  • Weak food sales over the Christmas period are expected to set a precedent for what will be a difficult 2020 for supermarkets.
  • Inefficient and irrelevant legacy retailers will continue to struggle in 2020, with the number of re-structures and administrations predicted to increase on 2019. 

The General Election result, following over 36 months of political volatility, brings with it a perception of clarity regarding Brexit. The RTT believe this will be welcomed with open arms by many UK shoppers in the short-term, even by those who feel that Brexit may be damaging to the UK economy in the long-term. Retailers should also expect to feel the benefits of growth stimulated by a recovering housing market across the UK in 2020.

Source : KPMG/IPSOS

For all the very latest news and intelligence on the UK's largest home improvement and garden retailers, sign up for the Insight DIY weekly newsletter.

03 January 2020

Related News

view more UK DIY News
*

Thank you for the excellent presentation that you gave at Woodbury Park on Thursday morning. It was very interesting and thought-provoking for our Retail members. The feedback has been excellent.

*
Martin Elliott. Chief Executive - Home Hardware.
Newsletters

Don't miss out on all the latest, breaking news from the DIY industry