Latest
industry research report on: Lighting Market | Industry Size, Share,
Research, Reviews, Analysis, Strategies, Demand, Growth, Segmentation,
Parameters, Forecasts
"Lighting,
2016" is part of GlobalData Retails Home Retail Series, which provides
in-depth analysis into the lighting market, with value and volume
forecasts up to 2021. The report provides detailed quantitative and
qualitative analysis of the UK market, reviewing key trends based on
GlobalData Retails consumer data.
The lighting market will
experience modest growth over the next five years, although in 2017
there will be a short-term slump in spend. This is due to price
inflation limiting spend on discretionary purchases and an expectation
of a decline in UK housing transactions during 2017-2018 impacting
volumes. However, this also offers an opportunity for the entry level
lighting market to thrive as well as encouraging retailers to engage
existing home owners looking to make affordable home improvements.
The report provides expert analysis of the following -
- Key issues and success strategies
- Market sizing and growth forecasts
- In-depth profiling of key retailers
- Where people shop
- Why people shop
- Channel usage and market value by channel
Scope
-
Ceiling and wall lighting, which makes up the largest proportion of
lighting sales, has the highest forecast growth over the next five
years. This is driven by three key trends; the continued demand for
fashionable ceiling pendant lighting, the growing trend towards
replacing lighting with LED technology and the emergence of smart home
lighting. All three trends are forecast to continue to grow in
popularity over the next five years.
-
The collapse of BHS has resulted in a large gap in the market with
their previous lighting market share up for grabs. Despite their
struggling clothing range, BHS lighting range continued to appeal to
consumers offering a wide selection of affordable products. Former BHS
customers will turn to competitors with a physical presence on the high
street such as Debenhams, which has recently refreshed its lighting
proposition. Debenhams is expected to improve its lighting market share
as a direct result of BHS demise and its strategy to actively target BHS
abandoned shopper base.
-
Online will be the fastest growing channel over the next five years.
This is in part due to the problematic nature of visually merchandising
lighting in physical stores. Having an online platform has enabled
retailers to overcome this by successfully showcasing product with room
set photography, product isolation and editorial content allowing the
consumer to better visualise the product in their own home despite the
absence of tangibility. Consequently more premium and aspirational
pureplay retailers are gaining lighting market share.
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Reasons to buy
-
Use our five-year forecasts to 2021 for individual product categories,
channel distribution and online sales penetration to establish a focused
strategy in areas of high growth.
-
Review our company analysis of major brands and retailers in the
lighting market and further your understanding of where these retailers
succeed and where they fail to improve your own lighting proposition.
-
Identify which consumers to target and how to drive spend from them by
utilising our shopper penetration data to better understand what
influences their retailer selection and spending motivations.
-
Understand how the online channel can be better utilised to sell
lighting, reviewing the online expenditure forecast and analysis on how
to merchandise lighting online.
-
Use our analysis on market key issues to better understand how own
brand lighting can be clearly segmented and differentiated to target
different consumer groups, improve visual display and justify price
points effectively.
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