The UK Electricals report offers a comprehensive insight into the Electricals market in the UK, analysing the sector, the major players, the main trends, and consumer attitudes, as well as providing market forecasts out to 2028.
Following two years of declines, the electricals market is due to see a slight improvement, growing by 0.4% in 2024 before returning to more pronounced growth from 2025 onwards. The 0.2% decline seen in 2023 came as a result of consumers cutting back on non-essential big-ticket spending due to the high cost of living, as well as the weak housing market taking away a driver of spend. This trend persisted throughout the first half of 2024, with consumers being reluctant to spend more despite greater confidence in their finances.
Following two years of declines, the electricals market is due to see a slight improvement, growing by 0.4% in 2024 before returning to more pronounced growth from 2025 onwards. The 0.2% decline seen in 2023 came as a result of consumers cutting back on non-essential big-ticket spending due to the high cost of living, as well as the weak housing market taking away a driver of spend. This trend persisted throughout the first half of 2024, with consumers being reluctant to spend more despite greater confidence in their finances.
Scope
- The electricals market is forecast to grow by 0.4% in 2024 as consumer cutbacks are due to give way as discretionary incomes rise
- Amazon and Currys are set to be the biggest winners in 2024
- Smartphones and wearable health tech will be key drivers of electricals growth out to 2028
Reasons to Buy
- Using our five year forecasts to 2028, learn which categories in the Electricals market will be the fastest performing to enable focus and investment in these winning product areas.
- Understand how drivers of Electricals purchases, such as range, price and quality, vary in importance among different demographics to maximise sales potential.
- Use our in-depth analysis and forecasts to understand the current and future performances of the different channels, including online and offline.
Table of Contents
- Executive summary
- The electricals market is forecast to grow by 0.4% in 2024 as consumer cutbacks are due to give way as discretionary incomes rise
- Amazon and Currys are set to be the biggest winners in 2024
- Smartphones and wearable health tech will be key drivers of electricals growth out to 2028
- KEY TRENDS
- Market drivers
- Market inhibitors
- Key Trends: Integration of generative AI into business operations
- Key Trends: Wearable health tech
- Key Trends: Increased delivery charges
- Key Trends: Supplemental services
- Strategies for success
- MARKET SIZE AND FORECASTS
- Five year growth 2018-2028
- Market size, 2018-2028
- CATEGORY PERFORMANCE AND FORECASTS
- Key category trends
- Top electricals categories
- Market by category %, 2018-2028
- Category segment value and forecast, 2023 & 2028
- CHANNEL PERFORMANCE AND FORECASTS
- Online market, 2018-2028
- Channel growth, 2018-2028
- Market by channel, 2023 and 2028
- Channel value and forecast, 2023 and 2028
- REVENUE AND MARKET SHARES OF TOP 10 PLAYERS
- Top 10 retailers, 2023
- Market shares of the top 10 retailers
- Top 20 most visited and purchased from retailers for Electricals, 2024
- Electricals competitor overlap, 2024
- COMPETITIVE LANDSCAPE: PROFILES OF LEADING PLAYERS
- Currys
- John Lewis & Partners
- AO
- Sainsbury's
- COMPETITIVE LANDSCAPE: RETAILERS TO WATCH
- Retailers to watch: Harvey Norman
- Retailers to watch: Vinted
- Retailers to watch: EE
- Retailers to watch: Peter Tyson
- CONSUMERS
- Key consumer trends
- Electricals penetration and profile
- Electricals category penetration
- Electricals channel usage
- Electricals online device usage
- Electricals location usage
- Fulfilment methods
- Electricals purchase frequency
- Electricals consumer drivers
- Secondhand electricals penetration and profile
- Secondhand electricals category penetration
- Secondhand electricals spending habits
- Secondhand electricals purchase motivations
- Electricals colour purchase influences
- METHODOLOGY, DEFINITIONS AND CONTACTS
- UK Electricals Category Segment Value and Forecast, 2023 & 2028
- UK Electricals Channel Value & Forecast, 2023 & 2028
- Top 10 UK Electricals Retailers, 2023
- UK Electricals Competitor Overlap, 2024
- UK Electricals Category Penetration, 2024
- UK Electricals Channel Usage, 2024
- UK Electricals Online Device Usage, 2024
- UK Electricals Location Usage, 2024
- UK Electricals Fulfilment Methods, 2024
- UK Electricals Consumer Drivers, 2024
- UK Secondhand Electricals Spending Habits, 2024
- UK Electricals Market GBP m, 2018, 2023, 2028 & CAGR %
- UK Electricals Market Value GBP bn, 2018-2028
- UK Electricals Market Annual Growth %, 2018-2028
- Top 4 UK Electricals Categories by Value GBP m, 2023 & 2028
- Top 4 UK Electricals Categories by Value Growth %, CAGR, 2023-2028
- UK Electricals Market by Category %, 2018-2028
- UK Electricals Online Market Size GBP m and Online Penetration %, 2018-2028
- UK Electricals Channel Growth, 2018-2028
- UK Electricals Market by Channel, 2023 and 2028
- Market Shares of Top 10 UK Electricals Retailers, 2022-2024e
- Top 20 Most Visited Retailers for Electricals %, 2024
- Top 20 Most Purchased from Retailers for Electricals %, 2024
- Currys' UK Electricals sales GBP m, 2023-2028, and annual growth %
- Currys' UK Electricals market share % 2018-2024e
- Currys' UK Electricals Penetration %, 2024
- John Lewis & Partners' UK Electricals sales GBP m, 2023-2028, and annual growth %
- John Lewis & Partners' UK Electricals market share % 2018-2024e
- John Lewis & Partners' UK Electricals Penetration %, 2024
- AO's UK Electricals sales GBP m, 2023-2028, and annual growth %
- AO's UK Electricals market share % 2018-2024e
- AO's UK Electricals Penetration %, 2024
- Sainsbury's UK Electricals sales GBP m, 2023-2028, and annual growth %
- Sainsbury's UK Electricals market share % 2018-2024e
- Sainsbury's UK Electricals Penetration %, 2024
- UK Electricals Penetration %, 2024
- UK Electricals Profile %, 2024
- UK Electricals Category Penetration %, 2024
- UK Electricals Channel Usage %, 2024
- UK Electricals Online Device Usage %, 2024
- UK Electricals Location Usage %, 2024
- UK Electricals Fulfilment Methods %, 2024
- UK Electricals Purchase Locations, 2024
- UK Electricals Purchase Frequency, 2024
- UK Electricals Consumer Drivers %, 2024
- UK Secondhand Electricals Penetration %, 2024
- UK Secondhand Electricals Future Purchase Consideration %, 2024
- UK Secondhand Electricals Category Penetration %, 2024
- UK Secondhand Electricals Channel Usage %, 2024
- How Consumers Expect their Spend on Secondhand Electricals to Change %, 2024
- UK Secondhand Electricals Purchase Motivations %, 2024
- Electricals Colour Purchase Influences
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- A1 Comms
- Accenture
- Affordable Mobiles
- Aldi
- Amazon
- AO
- Apple
- Appliances Direct
- Argos
- ASDA
- B&M
- B&Q
- Back Market
- Boots
- Buy Mobiles
- Currys
- Dunelm
- eBay
- EE
- Harvey Norman
- Home Bargains
- Huawei
- iD Mobile
- IKEA
- John Lewis & Partners
- Klarna
- Lidl
- Marks Electrical
- Microsoft
- Mobile Shop
- Morrisons
- MusicMagpie
- Nike
- Numatic International
- Oura
- Peter Tyson
- Russell Hobbs
- Sainsbury's
- Tesco
- The Range
- TikTok
- TK Maxx
- Very
- Vinted
- WHOOP
- YouTube
