UK market change

Retailers Aldi, Walmart, Best Buy, Inditex, Apple and Ikea will go head to head for 'The International Retailers of the Year’ at the Oracle Retail Week Awards 2009. With US retailers becoming increasingly prominent on the British high street, the landscape of the UK retail market is changing. Although the Oracle Retail Week Awards celebrates companies who have enjoyed global success, two of the shortlist, Walmart and Apple are American brands that have captured the attention of the UK consumer through large economies of scale and innovative design and marketing.

By offering low cost food, retailer Aldi boasts impressive margins and an estimated sales increase of 8% a year since 1998. Inditex is also vying for the title of International Retailer of the Year. The Spanish company is one of the worlds largest fashion distributors, boasting 4,223 stores in 71 countries, and operates nine sales formats including Zara, Massimo Dutti, Bershka, Stradivarius and Zara Home.

Accounting for 20% of national wealth and employing 11% of the UK workforce, the retail industry has never been more important to driving the UK economy. By showcasing those retailers that are continuing to lead the way in delivering innovation, creativity and value to their customers, the Oracle Retail Week Awards 2009 will demonstrate an industry blueprint for succeeding in challenging conditions.

In its 14th year, the awards will be held on March 19, 2009 at the Grosvenor House Hotel in London’s West End. In addition to the 12 shortlisted categories, a further 4 awards will be selected by the main judging panel when they meet early next year to agree the winners for 2009, including the ultimate accolade, Oracle Retailer of the Year.

On the quality of the awards shortlist, Tim Danaher, Editor of Retail Week commented: "Times are really tough in retail at the moment, but the shortlist for the 2009 Oracle Retail Week Awards is stronger than ever. In fact, the current difficult trading conditions seems only to have emphasised the real value to businesses of achieving recognition for excellence, with more retailers entering than ever before. We received submissions from virtually every major name on the high street, and the quality of those entries demonstrates that innovation in retailing is alive and well despite the downturn. The final judging day in February is sure to be one of lively debate."

Image: Zara