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The UK Food Industry Analysis

As of 2016 the food service market within the UK was worth a value of £87.2 billion, being up 2.3% in comparison to the 2015 market value. When broken down in to sub-categories the food service industry is valued as follows:

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The E-commerce Market

The online shopping market has witnessed a spike in growth over the period of 2016, with a 16% growth in the UK market. This has been said to have been largely driven by an increase in purchases made from smartphones with a 47% YOY growth from December 2015 through to December 2016, with further expectations of growth throughout 2017. In contrast, sales made on tablets were down 3% YoY. In December, smartphones accounted for 54% of mobile device sales, with tablets accounting for the other 46%. This is a huge uplift on December 2015, when smartphones accounted for 39% of mobile device sales. 

As expected the Christmas period is the bussiest time of year for ecommerce, being defined as running from 13th November through to 24th December. Over this period in 2016 £25 billion was spent online. This was up an impressive 16% on the amount spent in 2015 as consumers continued to shop for presents online.

Further reasons for increased sales online would include, but not limited to:

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Growth of Proptech

According to the office of national statistics, there are 28.1 million residential properties in the UK and in the year to 2016, 1.25 million properties were sold. Assuming an average property price of £287,000, and average commission of 1.5% including vat, this values the current potential fee income across the industry at approximately £4.5 billion.  It has been evidenced that the residential housing market within the UK is of a value of around £5.75 trillion. Of a market of this size, it is found that a staggering 98-99% of all house buyers browse for their housing options online and only a tiny 1-2% within high-street stores. However, the online estate agency market contributes to a rough 5% share of the market. This clearly illustrates that the high-street estate agents still have a clear dominant position within the property market.

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The Effectiveness of Marketing Channels

Marketing campaigns are core to business success, so what methods are most effective?

It is important to note that customer reach, although key in marketing efforts, should not be the only focus of and effective marketing campaign. The correct choice of marketing channels is significant in achieving this reach and ensuring the target market is captured, thus creating a truly effective marketing campaign.

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