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Discount retail sector to grow in the UK predicts GlobalData

GlobalData, recognized leader in providing business information and analytics, has predicted UK Discount Retail market is set to grow by 36.1 per cent reaching a total value of £32.5bn by 2022.

The data group reports that due to inflation, consumers are looking to squeeze more value out of their disposable income and are turning increasingly to budget retailers like B&M Bargains and Aldi, allowing them to gain an extra £9bn slice of the total retail market over the next few years.

“Our report findings confirm that discounters have done an exceptional job in gaining market share of frequently purchased items by changing the perception of discounter own label products in F&G while at the same time undercutting mainstream retailers on branded items in H&B and household," said Molly Johnson-Jones, senior food & grocery analyst from GlobalData Retail. 

"This combined approach has proven to be very disruptive in the market and has contributed to their success.’’

89.4 per cent of the UK population have shopped at a discounter in the last 12 months, while Aldi, Lidl and B&M dominate the discount space with a combined market share of over 70 per cent.

Johnson-Jones added: “The discounters have expanded their range in the DIY & gardening market at a time when consumers are seeking reduced cost solutions for doing up their homes and gardens – B&M will particularly outperform in this area as it adds garden centres to its retail estate over the next few years.”

About Robert Hutchins

Robert Hutchins is the editor of Licensing.biz and ToyNews. Hutchins has worked his way up from Staff Writer to the position of Editor across the two titles, having spent some six years with both ToyNews and Licensing.biz, and what now seems like a lifetime surrounded by toys. You can contact him by emailing robert.hutchins@bizmedia.co.uk or calling him on 0203 143 8780 You can even follow him on Twitter @RobHutchins3 if ranting is your thing...

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