Industry Analysis & Industry Trends
The Garden Centres and Pet Shops industry has endured a varied performance over the past five years. While products within the industry are often defined as discretionary, demand for industry products and services has been relatively resilient following the latent effects of the economic downturn. IBISWorld forecasts that industry revenue will increase at a compound annual rate of 2.9% over the five years through 2016-17 to reach £4.8 billion. Over the past five years, industry revenue has been spearheaded by growing demand for pet products. Increased humanisation of pets has led to consumers spending a higher proportion of their income on their pets... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Garden Centres and Pet Shops industry is estimated to be in the mature stage of its life cycle. Over the decade through 2021-22, the industry's value added (IVA), which measures how much it contributes to the UK economy, is estimated to grow at a compound annual rate of 3.5%. In comparison, UK GDP is projected to rise at a compound annual rate of 2.3% over the same period. Although the industry is expected to expand slightly faster than the economy, this growth has partly been made possible by the dramatic 19% drop in IVA that occurred during 2009-10, which meant it was starting from a low base. In fact, despite strong growth in several of the past five years, IVA is estimated to remain below its pre-recession peak.
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