Tableware market steps up to the plate during recession says GfK
Sector sees growth due to seasonal events
Despite the double-dip recession, the tableware* market has entered its third consecutive month of growth. GfK can report that the market saw a 5% month-on-month growth in April 2012, with the market being valued at £31.6 million.
The tableware market has steadily increased since February 2012, boosted by promotional activity and seasonal uplifts, such as Valentine’s Day and Easter. Both Easter and Valentine’s Day saw the tableware market increase by 16% when compared to the previous week.
This resilient market was also buoyed by Christmas, as 33% of all tableware sales were seen in December 2011.** With last minute Christmas preparations, tableware sales spiked during week 51, which is a crucial week for retailers. Consequently, the market reached £32.4 million - a record high figure witnessed by GfK since tracking the market in July 2011. When looking specifically at glassware and table dressing in week 51, this category increased by 66% and 61% respectively, week-on-week. Similarly, crockery and glassware sales accounted for 57% of the tableware market in December 2011.
Kate Smith, GfK TSR Account Manager, comments: ‘It is very encouraging to see the tableware category benefit from seasonal events during the challenging economic climate. With the Diamond Jubilee just gone and the Olympics just around the corner, it is hoped that the category will continue to see uplifts in sales.’
* Tableware by GfK’s classification includes: glassware, cutlery, crockery/china, teapots/ cafetieres, table dressing/settings, other tableware (such as Cruet Sets, Spice Mills, Serving Trays, Serving Jugs, Food Stands, Napkin Rings, Eggcups, Bottle Stoppers/Pourers, Wine Buckets, Warming Trays and Disposable Tableware)
** October 2011 - April 2012