The future of retail and its sectors are being driven by uneven growth. In the last Webloyalty blog, The current state of retail and its growth rates, we showed an overview of how retail sectors were affected by the recession. Some sectors are performing very well, others are continuing to struggle. This week’s blog reviews the following sectors, as discussed in The Future of Retail report.
Health and beauty
Growth will be driven by a number of factors within the health and beauty sector. More consumers are starting to become health conscious and therefore leading healthier lives. There will be an increased focus on a larger propensity to spend on medication, supplements and similar types of products that will either improve one’s life or decrease the risk of poor health later on.
Clothing and footwear
Consumers invest in a wardrobe because they want to look good, stay abreast of the most popular trends and promote their identity. These attributes will not change, so shoppers are susceptible to spending their disposable income on clothing. In addition, technological advancements and innovations will help make the clothing industry achieve better growth value. For example it is anticipated that personal tailoring will develop more of a presence on the high street. With customisation comes higher associated costs.
DIY
According to the latest reports into the DIY sector, with many consumers now having extremely busy schedules, it appears that a lot of people are opting out of DIY jobs. Instead, we see many consumers more willing to pay for a professional to fix the issue rather than undertake the task themselves.
For more information on how the other sectors have performed, please do read the Webloyalty report: The future of retail in full.