It’s official. The UK economy is in recession and by all estimates it is going to be the biggest on record. We have yet to see the full extent of the damage the pandemic has inflicted on UK businesses, but who wants to read another tale of woe?
Instead, here are five good news B2C industries that are leading the fightback. These industries are at the forefront of getting the UK economy back on track as we race towards the final quarter of what has been a strange year.
What can you say that hasn’t already been said about the gin industry? Gradually capturing more and more space on the shelves in the shops and now available in myriad flavours, the UK gin market continues to be a global success story. Plimsoll’s latest assessment of the market shows growth of 20% and average profit margins of 4%.
Vegan Food Manufacturers
As we become more ecological and health-conscious, ever increasing numbers of people are adopting a vegan lifestyle. While the major food companies are jumping into this space with vegan versions of classic staples, established, specialist providers are leading this booming market. Plimsoll’s latest assessment of the market shows growth of 11% and average profit margins of 3%.
Food Box Delivery
Home food delivery is a fledgling market that has exploded in popularity over recent months. The pandemic has added additional fuel to this already rapidly growing market. As services become increasingly popular, providers look to add more bespoke offerings to entice greater numbers of diverse customers. Plimsoll’s latest assessment of the market shows growth of 9% and average profit margins of 4%.
Online Skincare Retailers
Another industry that has grown out of the migration from high street to virtual shopping. With technology innovations such as face recognition allowing customers to trial palettes and colours from the comfort and safety of home, the market has further exploded during the pandemic. Plimsoll’s latest assessment of the market shows growth of 19% and average profit margins of 3%.
“There’s an app for thatâ”. Remember the old Apple tagline? The seemingly endless drive to mobile functionality has seen a rapid increase in demand for apps. From customer-facing apps to tablet-based industrial control systems, the market is growing fast despite the pandemic. Plimsoll’s latest assessment of the market shows growth of 8% and average profit margins of 4%.
Plimsoll provides live, up-to-date studies on 1600 different UK markets to help business leaders see which competitors are most likely to fall victim to the recession and those leading the recovery. Most importantly, we can also show you where your own business sits in its key markets and how it compares to rivals. The recession is going to change the economic landscape for the foreseeable future but being well prepared will ensure you make it to the other side.
Visit www.plimsoll.co.uk now to find out what is happening in your key markets today.