Department stores can provide you the luxury of visiting only one store to cover most of your retail needs. Whether you’re dedicating the weekend to a patio makeover or looking for a dress for that upcoming wedding, your local department store could be the only shop you need to visit.
The leading department store by market share in 2017 was John Lewis (25% share).
Meanwhile, Marks & Spencer was voted the UK’s favourite department store (74% positive response rate) in 2019.
As of August 2018, department stores completed almost a fifth (18%) of their sales via the Internet.
During the year leading to August 2018, department store Internet sales increased by 26%.
Department store revenue
The number of sales registered by department stores has seen an increase over the last decade. In 2018, the number of retail sales in department stores reached £35 billion – a 42% increase on the 2005 figure. The greatest amount spent in department stores was in 2016, when the average person spent £540 in the year.
From 2009 to 2018, the percentage change has increased every year. Over the decade, the average annual increase has been 3.6%. However, the percentage change was lower in 2018, at just 2.4%, so it will be interesting to see how the stores have fared this year.
Marks & Spencer, a Britain-based store specialising in high-quality clothing, homewares and food products, was ranked as the UK’s highest-rated department store in a 2019 survey, with a 74% positive rating. Following this, Wilko (sells homewares and household goods) and IKEA (Swedish furniture giant) saw 7 out of 10 people respond positively to them.
Food is the biggest earner for Marks & Spencer, earning £5.9 billion and making up over half of the total revenue. The next biggest category is clothing and home, while the international stores bring in 9% of revenue.
While Marks & Spencer is synonymous in the UK, it isn’t as well known around the globe. This explains why there are 2.3 times the number of stores in the UK alone compared to all 444 international stores.
Georgia-Rose is a publisher at Finder.com and specialises in all things shopping and travel. She has years of experience working in retail and tourism and as an avid budget traveller, she loves helping people find the best deals on everything from plane tickets to sunglasses.
When she's not jetting off somewhere new you'll find her watching cake videos or befriending stray cats.
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