The Goods UK – 13 November 2024
Welcome back to The Goods UK. This week, we’re chatting early Black Friday deals, whether cute animals will encourage you to choose a particular brand of wine and why Brits were “mad” enough to wait four hours for deals on kitchenware.
Clean energy and infrastructure investment is expected to reach two trillion dollars this year, almost twice that of fossil fuels. Unlocking the money needed by developing countries to transition to clean energy will be a key focus of COP29, which kicked off in Azerbaijan this week.
What’s in: this week’s trends
- PAN-demonium!: It was casserole pots and oven gloves at dawn this weekend as Le Creuset fans queued for four hours to snatch up deals at the French cookware brand’s “largest in-person event” in Andover. Classic kitchenware brands such as Le Creuset, Smeg and KitchenAid have resurged in popularity recently as Gen Z show off their sparkling branded appliances at home in an unexpected TikTok trend. Analysts have suggested the appeal is due to these brands’ “sustainability, durability and nod to vintage vibes”.
- Deal or no deal: Black Friday is still two weeks away, but that hasn’t stopped a host of retailers launching deals already. Experts suggest the rush is driven by brands not only worried about FOMO to competitors, but because this year’s event – tied to Thanksgiving in the U.S. – is so late in the day that it causes logistics headaches. However, with more than two-thirds of UK shoppers seeing Black Friday as a sales gimmick rather than a genuine bargain opportunity, retailers may need to do more than ‘slash’ their prices to win over our wallets.
- Keeping the wanderlust alive: Travel companies are increasingly debuting packages in adventure tourism, wellness retreats and immersive cultural experiences. This is in order to keep up with the global middle class who seek unique, often risky activities while on holiday, according to commentators at this year’s World Travel Market (WTM). Other travel trends expected in 2025 include the continued rise of ‘slow travel’, purpose-driven marketing and even ‘rawdogging’.
Cash or card: shopper behaviour
What’s in and out of our baskets right now? Salads are soaring high on Deliveroo, used electric vehicles are skidding out of second-hand dealerships, and UK travellers just can’t get enough of… the UK.
- Salads soar: The latest data from Deliveroo has revealed the most popular dishes for the UK’s taste buds. Perhaps surprisingly, salads made up 30% of this year’s global top 10 list, knocking burgers out of the ranking for the first time. With the oncoming uptick in shopping, parties and school nativities meaning many people will reach for a takeaway instead of cooking, the festive season is a vital time for food delivery companies. From brand partnerships with supermarkets to paid for membership packages, the “big three” are all trying new ways to entice customers to order on their apps.
- Powered by demand: There was a 4.3% increase in the number of used cars being sold between July-September this year than in 2023, according to the Society of Motor Manufacturers and Traders, with a record 53,435 sales being EVs. This demand was largely driven by three-to-five year-old EVs that are now reaching price parity with their petrol and diesel equivalents. However, the same success can’t be said for the new car market which saw private purchases drop by 4%, reflecting a hesitance to invest in new models amidst economic uncertainty.
- Domestic trips dominate: Despite Britons grappling with a cost-of-living crisis, the temptation to pack our bags and relax remains a valued experience. According to the latest YouGov data, staycations are the most popular option for Brits, with 26% of travellers having enjoyed a domestic city break in the last 12 months. However, if you’re planning on a trip to the Highlands, you may want to get it in soon. Highland Council will be voting on a 5% visitor levy for the nearly 6 million tourists that visit each year from next September, estimated to raise up to £11 million for the region across 12 months.
Making moves: industry changes & innovation
ICYMI, even industry icons need to reinvigorate their brand presence through unique and creative ways. Here are some movers and shakers that you should know about:
- Mai Tai or my AI?: With take-home value sales growing just 2.8% this past year, booze needs a boost. Whether it’s glow-in-the-dark labels and pictures of cute animals to purpose-built, walk-in ‘beer caves’ and AI sommeliers, retailers are increasingly turning to inventive, often tech-driven ways to better merchandise their offerings. Diminishing sales are attributed to two key factors – the rise in moderation and continued price hikes.
- Beauty is in the eye of the… high street: Space NK is betting big on the nation’s high streets with a promise to open ten new stores next year after a surge in sales and profits. CEO Andy Lightfoot attributed the brand’s success to its wide-ranging price points and mix of “hard to find” brands. With many retailers moving out of prime city centre locations in recent years, it seems independent health clubs have taken their spot. More than 1,000 fitness centres have opened in high streets, shopping centres and retail parks since 2019 as landlords look for alternative ways to fill their spaces.
- Check out to check up: Tesco is on the front foot of the upcoming flu season with a pilot store concept that will give people access to health advice, treatments and virtual GP appointments all in one place. The move builds on the supermarket’s existing in-store pharmacy offer which is said to serve half a million people every week. The combination of people willing to pay for quicker and more convenient healthcare services alongside an NHS that remains under constant pressure could spell an genuine opportunity for retailers to diversify their offer.
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