UK Homewares Sector Report summary
August 2021
Period covered: Period covered: 04 - 31 July 2021
Note: This report summary is one or two months behind the current month as standard reporting practice. The content is indicative only and incomplete with certain data undisclosed. Subscribe to access this data or take out a free 30 day subscription trial now.
Homewares sales fell 00% YoY in July, but remained 7.9% above 2019’s equivalent pre-pandemic levels, according to the Retail Economics Retail Sales Index.
Total retail sales rose by 00% YoY, and 7.9% versus July 2019, according to the Retail Economics Retail Sales Index (value, non-seasonally adjusted).
Spending on ‘social’ components of the consumer spending basket (e.g. hotels, restaurants, pubs and air travel) rose by 59.5% YoY in July. This was considerably higher than overall consumer spending which rose by 12.3% as consumers put off ‘delayable’ purchases such as luxury items and household goods (Bank of England).
The switch away from shopping was confirmed in separate data from Barclaycard which found that spending on entertainment saw growth for the first time since the pandemic began in July, as consumers bought tickets to the theatre, cinema and sporting events.
Last July marked the first full month that stores were open after the first lockdown. Reflecting strong pent-up demand, Homewares sales rose by 00% YoY in July 2020.
Against this tough comparison, it is little surprise that the sector struggled to reach the same heights twelve months on (00% YoY in July 2021).
Retail Economics forecasts Homewares to grow by 00% YoY in 2021, with sales reaching close to £13.1bn. This would mark a swift recovery for the sector as it returns to 2019’s pre-pandemic sales levels (£13.0bn).
Retail Economics forecasts Homewares sales to rise by 00% CAGR over 2021-2025, reaching total annual sales of £14.0bn by the end of this period.
Dunelm announced it will go plastic and glitter free this Christmas in a bid to reduce the amount of plastic in its festive range.
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UK residential property transactions drop sharply in July
Source: HMRC
