The UK retail sector has endured another volatile and uncertain year, with many well-established retailers struggling to adapt to rapidly changing consumer behaviour, disruptive competitive pressures and continual technological progress.
The consumers' channel shift online continues apace, with online shopping now a part of almost every shopping journey. At the same time, consumers are looking for value and convenience. The economic backdrop remains fragile and uncertain with high levels of employment but stagnant productivity and low real wage growth.
The year ahead does not look any less tumultuous for retail in the UK.
How We are Responding
At Dunelm, we are focused on our customer and the things that we can control. We are clear about the opportunities and challenges ahead of us, and we are responding quickly to the changing consumer and market conditions.
Our competitor set is fighting hard, so we're looking to reassert our value credentials while improving ease of shopping in a multichannel world and we're adding more inspiration to help our customers create a home they love.
We know we have a product and service advantage, and we want to spread the word. That's why we're launching a brand building programme so more customers can get to know us and shop with us.