Table of Contents
Executive Summary
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- The market
- Consumer spending
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- Figure 1: Spain: Consumer spending on electrical items (including VAT), 2013-19
- Sector size and forecast
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- Figure 2: Spain: IT and telecoms equipment specialists’ sales, excluding VAT, 2013-19
- Channels of distribution
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- Figure 3: Spain: Estimated distribution of spending on electrical goods by channel, 2019
- Companies and brands
- Key metrics
- Market shares
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- Figure 4: Spain: Leading electrical specialists’ shares of spending on electricals, 2019
- Online
- The consumer
- What they buy
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- Figure 5: Spain: Electrical products bought in the last 12 months, November 2019
- How they shop
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- Figure 6: Spain: Usage of stores vs online when buying electrical/electronic products, November 2019
- Where they shop
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- Figure 7: Spain: Where they shop for electricals, November 2019
- Attitudes to shopping for electrical goods
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- Figure 8: Spain: Attitudes to shopping for electrical/electronic goods, November 2019
- What we think
Issues and insights
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- Investing in stores remains key
- The facts
- The implications
- Offering credit and free extras as an alternative to discounting
- The facts
- The implications
The market – What you need to know
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- Spending growth slows as consumers remain cautious
- Specialists’ sales showing signs of recovery
- Specialists continue to lose share to online shopping
Consumer spending
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- Economic growth persists in spite of slowdown
- Spending on electricals continues to grow
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- Figure 9: Spain: Consumer spending on electrical items (including VAT), 2014-19
Sector size and forecast
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- Specialists’ sales expected to continue to decrease
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- Figure 10: Spain: IT and telecoms specialists, sales excluding VAT, 2015-19
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- Figure 11: Spain: IT and telecoms specialists, forecast sales excluding VAT, 2020-24
Inflation
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- Figure 12: Spain: Consumer prices, annual % change, 2013-19
- Figure 13: Spain: Consumer price inflation on electrical items (HICP*), annual % change, January 2018-December 2019
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Channels of distribution
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- Specialists continue to lose share to online shopping
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- Figure 14: Spain: Estimated distribution of spending on electrical goods by channel, 2017-19
- Figure 15: Spain: Estimated distribution of spending on electrical goods by channel, 2019
Companies and brands – What you need to know
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- Leader MediaMarkt stabilises sales growth
- Fnac growth slows further in face of sluggish consumption
- Worten grows in spite of reduced store estate
- Market concentration decreases over the past five years
- Electricals is one of the most developed online markets in Spain
Leading players
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- MediaMarkt stabilises growth in sales
- Fnac growth slows further in face of sluggish consumption
- Worten grows in spite of reduced store estate
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- Figure 16: Spain: Leading electrical specialists, sales, 2015-19
- Figure 17: Spain: Leading electrical specialists, outlets, 2015-19
- Figure 18: Spain: Leading electrical specialists, sales per outlet, 2015-19
Market shares
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- Market concentration increases slightly in 2019
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- Figure 19: Spain: Leading electrical specialists’ shares of spending on electrical items, 2015-19
Online
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- Online activity
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- Figure 20: Spain: Broadband penetration as % of all households, 2008-19
- Figure 21: Spain: Online purchasing in the past 12 months compared to other major European economies, 2008-19
- Shopping online
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- Figure 22: Spain: Proportion of people buying electrical items online in the last 12 months, 2008-19
- Online sales
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- Figure 23: Spain: Estimated online sales by product category, 2018
- Leading online players
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- Figure 24: Spain: Estimated sales of electricals online by leading retailers, 2015-19
The consumer – What you need to know
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- Nearly nine in ten people bought electrical goods in the past year
- Spanish still prefer to shop in-store
- MediaMarkt maintains high appeal among younger consumers
- Spanish happy to wait for a bargain
What they buy
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- Proportion of those who bought electrical goods continues to rise
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- Figure 25: Spain: Electrical products purchased in the last 12 months, November 2019
- Men remain the main buyers of electrical goods
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- Figure 26: Spain: Electrical products purchased in the last 12 months, by gender, November 2019
- Young consumers lead in purchasing mobiles, computers and video games
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- Figure 27: Spain: Electrical products purchased in the last 12 months, by age, November 2019
How they shop – Online and in-store
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- Stores remain the preferred place to shop
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- Figure 28: Spain: Channels used to buy electrical goods in the last 12 months, November 2019
- Men and younger buyers favour online, women and older buyers in-store
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- Figure 29: Spain: Usage of stores vs online when buying electrical/electronic products, by gender and age, November 2019
Where they shop
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- MediaMarkt continues to lead the market, followed closely by Amazon
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- Figure 30: Spain: Where they shop for electricals, November 2019
- MediaMarkt, Amazon, Fnac and Apple are most popular among younger buyers
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- Figure 31: Spain: Where they shop for electricals, by age, November 2019
- How they shop by retailer used
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- Figure 32: Spain: Where they shop for electricals, by channel used, November 2019
- MediaMarkt continues to rely more on in-store only shoppers
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- Figure 33: Spain: Where they shop for electricals (leading specialists only), by channel used, November 2019
Attitudes to shopping for electricals
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- In-store experience remains key and discounting culture offer opportunities
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- Figure 34: Spain: Attitudes to shopping for electrical/electronic goods, November 2019
- Attitudes to shopping by retailer used
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- Figure 35: Spain: Attitudes to buying electrical/electronic goods, by where they shop (specialists), November 2019
Appendix – Data sources, abbreviations and supporting information
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- Abbreviations
- Data sources
Amazon
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- What we think
- Prime: the glue keeping the consumer facing business units together
- Consumer electronics: half of UK households have an Amazon device
- Retail: Will Marketplace become a problem child?
- Company background
- Company performance
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- Figure 36: Amazon: sales by activity, 2019
- Mintel estimates
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- Figure 37: Amazon.com Group: Group financial performance, 2015-19
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- Figure 38: Amazon International: estimated retail sales performance, 2015-19
- Sales of electrical goods
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- Figure 39: Amazon Europe: estimated sale of electrical products, 2019
- Retail offering
- Product mix
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- Figure 40: Amazon UK: estimated sales by product, 2018
- Marketing
Ceconomy (MediaMarkt/Saturn)
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- What we think
- Sharpening the focus of the business
- Role of stores is changing
- Online wobbles towards the end of 2018/19
- Where now?
- Company background
- Company performance
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- Figure 41: MediaMarkt/Saturn: Group financial performance, 2014/15-2018/19
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- Figure 42: MediaMarkt/Saturn: Outlet data, 2014/15-2018/19
- Retail offering
Fnac Darty
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- What we think
- Online looking good and still growing
- Services offer scope to develop other revenue streams
- Sustainability is being put at the core of the company’s activities
- Partnerships boost knowledge and improve buying power
- Cross-banner developments
- Ticketing not core enough?
- Where now?
- Company background
- Company performance
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- Figure 43: Fnac Darty : Group sales performance, 2015-19
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- Figure 44: Fnac Darty : Outlet data, 2015-19
- Retail offering
The European Buying Groups
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- What we think
- Growth at group level
- Store numbers falling
- Online is difficult for voluntary groups
- Can customer service offset higher prices ?
- Looking ahead…
- Sales
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- Figure 45: Euronics and Expert: Selected countries, sales performance, 2014-18
- Stores
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- Figure 46: Euronics and Expert: Selected countries, store numbers, 2014-18
- Figure 47: Euronics and Expert: countries of operation with local websites, 2020
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