Retail Franchise Opportunities
Trends and Facts About Retail Franchises
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- With approximately 2.9 million employees, the retail industry is the UK’s largest private sector employer. This figure has been forecasted to grow to 3.3 million by 2017.
- 9% of all VAT-registered businesses in the UK are retailers.
- There are close to 300,000 retail outlets in the UK.
- More than a third of consumer spending goes through retail.
- The ecommerce sector is predicted to grow by 7.3% in 2017.
- Mobile commerce is also proving a key growth sector, with over half of online retail sales now being made via mobile devices.
- Currently, approximately 12% of retail sales are made online and the annual growth of online retail sales averages 10%.
- Customers increasingly wish to combine traditional retail with online convenience, resulting in more people browsing stock online and using services such as Click & Collect.
- There are currently 11.6 million over-65s in the UK (7.8% of the population). By 2030, this figure is forecasted to reach 15.5 million. Within the next two decades, every £1 in £4 may be spent by this demographic – meaning the UK retail landscape will have to shift to cater to their needs.
- The retail instincts of baby-boomers (1946-64) tend towards a store-based, instant ownership experience.
- Millennials appear to be more interested in social shopping, being heavily influenced by the shopping choices of their peers. They’re also prepared to wait a little longer for items they desire.
The retail sector continues to grow, making for a robust investment for franchisees. The most recent figures show an increase of 5.9% in retail sales in only one year, so why not become a part of this consistent growth? The retail opportunities listed on our site are incredibly diverse – so there’s something for everyone. Have a browse and submit an enquiry today!