- The key vendors in the grocery retail market in the UK 2015-2019 are Asda Stores Ltd., Wm Morrison Supermarkets plc, J Sainsbury plc and Tesco plc
London, 24 July 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the grocery retail market in the UK 2015-2019. The growth of discount retailers is one of the key trends upcoming in this market. As per the statistics, discount retailers such as Aldi and Lidl have experienced strong year-on-year growth and are expected to grab about a 15% market share in the coming years. The grocery retail market in the UK 2015-2019 is estimated to grow at a CAGR of 2.23% during the forecast period of 2014-2019.
“Innovation of grocery shopping through contactless payment has become a trend in the market. The trend of the mobile wallet is expected to gain momentum with players such as Applepay and Googlepay in the coming years,” says Faisal Ghaus, Vice President of Technavio Research.
“By having ‘cashless checkouts’ and in-store scanning by phones, stores will be able to provide quick customer service while consumers can also avoid standing in a long queue.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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