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
- 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.
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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