In spite of political uncertainty, a number of British industries have been enjoying solid growth in recent months.
New research from Plimsoll Publishing has revealed which sectors are the winners and losers in terms of sales growth. Below we examine three industries from among the top performing.
Gin Producers
2018 was another record year for UK gin; recent figures from the WSTA show that sales have more than doubled in the last five years.
Flavoured gin has also brought a boost to the market in recent months, and an increasing number of distilleries producing artisan-style products have sprung up around the country; in fact Plimsoll’s research found that the fastest growth was among companies with sales between £5 million and £10 million. The industry is also tapping into the leisure sector, with distillery tours providing another source of revenue.
The concept of the British brand is key in selling these products abroad; it is interesting that even new start-ups have been able to exploit the idea of history and tradition in significant export markets like Asia.
Online Skincare Retailers
As with a number of growing industries, success with millennial consumers is at the heart of sales growth for the online skincare sector. Social media influence, the rise of multi-brand websites and the growing popularity of niche products from markets such as Japan and Korea have also contributed to the industry’s success. Plimsoll’s findings show that companies in this industry are increasing sales by an average of 25.8%.
Interestingly, related sectors such as e-commerce fulfilment and strategic marketing consultants are also benefitting from the online beauty boom, with both of these industries also seeing strong sales growth in recent months.
Online Estate Agents
The online estate agents sector is may be growing faster than high street estate agents, but this growth could prove to be more fragile. 2018 was a turbulent year for online estate agents including company failures and even recent relaunches such as that of Emoov.
The market leaders are strong, but rely heavily on marketing and technology which could prove costly over time. Growth was not necessarily shared evenly, either geographically throughout the UK or in terms of company size. In fact, according to Plimsoll 4 of the largest 25 firms in the online estate agent sector have not recently increased their sales.
Find out more about the industries above, as well which other UK industries are among the strongest for growth, by visiting our website: plimsoll.uk
You can also receive a free brochure on the industries in this article by contacting us via email at: d.pattison@plimsoll.uk