Next's decision to dip its toes into the world of TV shopping is a shrewd move. Seven in ten UK homes now have digital TV and this should enable Next to generate considerable brand awareness as it beams its offer directly into millions of homes.
This is the first such foray into TV shopping by a major high street retailer and if successful, could create a new avenue to bolster Next's multi-channel credentials and drive much-needed incremental sales growth.
Next is a men's, women's and children's fashion clothing retailer. The TV shopping market has enjoyed exceptional growth in recent years. In 2005, we estimate it grew by 18% to around £950m, considerably outstripping other sectors of retail.
We believe that Next will find TV an ideal medium to promote its homewares ranges – which are currently underrepresented by well-known brands in TV shopping. The clothing offer will be well suited to the largely female base of TV shopping viewers.
The growth of TV shopping is set to continue, driven by ongoing digital take up and the implementation of the digital switchover – set to begin in 2008.
The health & beauty market is one of the most buoyant and dynamic retail sectors. While the market is growing at a faster rate than most retail sectors, health & beauty specialists and department stores that once dominated the market are now under pressure to defend their businesses against the convenience of the grocers.
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