Boston, MA -- (SBWIRE) -- 09/09/2014 -- Travel retail sales rose by 2% to GBP31 billion in 2013, posting a second consecutive year of growth as the UK economy recovers and consumer confidence rises. However, the growth rate remained modest as people continued to try to economise and opt for low-cost solutions and last-minute deals. Although the economic outlook has improved, demand remains stagnant and consumer cautious, as wages have not yet caught up with inflation. In this context, value for money is a priority for consumers. Domestic trips declined slightly, partly as the trend for the staycation, which experienced a boost during the credit crunch has worn off, and partly because often travelling abroad to destinations such as Spain, Greece or Turkey on a packaged deal can be considerably cheaper than holidaying in Britain. This way, the number of trips outbound went up by 2% in 2013.

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Industry Prospects

Sales of travel retail products are expected to increase over the forecast period, albeit at a modest pace, rising at a CAGR of 1% at constant 2013 prices. Consumers are expected to remain price conscious and they will continue to search for value-for-money deals that suit them the most. The economic outlook improved in the second part of 2013, which led to a rise in consumer confidence; however, the recovery seems to have been driven by a higher level of consumer debt, thus there is some doubt about how long the recovery can be sustained. Inflation is set to return to 2% in 2014, but wages have failed to rise to catch up the ground lost during the economic downturn, thus, in this context it is expected that consumers will continue to look for last-minute deals and try to economise on holiday expenditure.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Travel Retail industry in United Kingdom with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Travel Retail industry in United Kingdom, our research will save you time and money while empowering you to make informed, profitable decisions.

The Travel Retail in United Kingdom market research report includes:

- Analysis of key supply-side and demand trends
- Detailed segmentation
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

- What is the market size of Travel Retail in United Kingdom?
- What are the major brands in United Kingdom?
- Is there movement away from accommodation only and flight only to package holidays?
- Are value added segments like spa packages and cruise performing well?
- Is online travel retail outpacing offline sales?

Reasons to Get this Report

- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions

Product coverage: Travel Retail Sales by Category, Travel Retail Sales by Channel, Travel Retail Sales by Corporate Business vs Leisure.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

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