Retail Franchise Opportunities for Sale
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Trends and Facts About Retail Franchises
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.
Nine percent of all VAT-registered businesses in the UK are retailers, totaling close to 300,000 retail outlets. One-third of consumer spending goes through retail and the ecommerce sector is predicted to grow by 7.3% in 2017.
There is a growing move towards mobile commerce, 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!