How to Get Discovered by U.K. Retailers: Understanding British Consumers
Before you launch your brand in the United Kingdom, it’s important to know what’s going on in today’s U.K. retail market as it may differ from the markets your brand currently has a presence in. Whether the British market is familiar territory or completely new, here’s a deep dive into understanding the U.K.’s marketplace, retailers, and how your brand can understand a new set of consumers.
Understanding the U.K. retail market
Over half of the £456bn industry is dominated by supermarkets, presenting a lot of opportunity for food and beverage brands looking to expand into the U.K. market. For years, the “big four” retailers have been Tesco, Sainsbury’s, Asda, and Morrisons, but discount supermarkets like Aldi are quickly expanding in the market. Now that Aldi is outperforming Morrisons in terms of the country’s grocery market share, the “big four” are no more.
As we’re seeing in many countries, rising costs due to inflation are changing consumer behavior and the U.K. market is no exception. Inflation of grocery prices is up 14.4%, causing consumers to gravitate even more towards private label or store-owned brands over name brands to cut down their weekly spending costs. It comes as no surprise that the …