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The retail industry is the UK's largest employer. With almost 3 million employees and with this trend set to grow, this has led to rapid growth in retail franchises.
Us Brits love our retail therapy, and almost a third of our spending is through retail and e-commerce businesses. More growth is expected from e-commerce and mobile spending. This is reflected by many leading online retailers gearing up with more warehouses & resources.
The retail sector covers many areas, including food retail & non-food retail. There are a diverse range of retail franchise opportunities available including food retail ( human & pet ), store front retail, e-commerce, home improvement , tool franchises, stationery franchises, fashion franchises. Many would have also noticed the growth for vaping & e-cigarette businesses over the last few years.
Statistics around the UK retail industry
If you have had a browse through the wide range of different franchise opportunities, we offer in the retail industry. But are still not convinced on whether buying a retail franchise would be right for you, don't worry since we will also list some statistics around the whole retail sector in the UK to give you an idea of the retail industry's market size.
- According to RetailEconomics the UK made a total of £394 billion in 2019. This was the value of total retail sales.
- Also, retail provides many job opportunities in the UK. According to RetailEconomics, the retail sector provides a staggering 2.9 million jobs.
- Also, online sales contribute to a huge part of this total amount collected in 2019 since 19% of all retail sales in 2019 were online orders, according to RetailEconomics.
- Retail is expanding hugely as well since also according to RetailEconomics. There were over 306,000 total retail outlets in the UK.
As consumers continue to increase their retail spending, both in-store and online, the retail sector provides a robust business investment opportunity. We have a wide selection of retail franchises available, browse & find your ideal franchise.