Industry Analysis & Industry Trends
Operators in the Department Stores industry sell a wide range of merchandise including clothing, electrical appliances, homeware, and personal-care products. Prior to the 2008 financial crisis, retailers benefited heavily from the instinctive buying decisions of the consumer market however, the sustained economic depression has drastically affected consumer behaviour. High unemployment levels have led to declining disposable income and confidence as individuals have become unsure of their financial future. Households have been forced to cut back on discretionary purchases and thus department store retailers have been affected. Over the five years through 2012-13, total industry revenue is estimated to decrease at a compound annual rate of 0.2% to £16.6 billion... purchase to read more
Industry Report - Industry Analysis Chapter
The Department Stores industry has dealt with a number of factors over the past five years that have had adverse effects on industry operators. The sustained recessionary conditions have changed the behaviour of consumers who have been forced to cut back on discretionary spending due to declining confidence and disposable income. This change has badly affected retail industries, and department stores have not evaded the effects. Retailers have been forced to slash prices to maintain consumer interest, which has badly affected profit margins. Over the five years through 2012-13, industry revenue is expected to decline at a compound annual rate of 0.2% to reach £16.6 billion... purchase to read more