Table of Contents
Executive Summary
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- The market
- Consumer spending
- Department stores’ share of clothing & beauty markets
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- Figure 1: Spain: estimated distribution of consumer spending on clothing and footwear by channel, 2018
- Figure 2: Spain: Estimated distribution of consumer spending on beauty and personal care products by channel, 2018
- Sector value and forecast
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- Figure 3: Spain: Estimated department stores sales* (excluding VAT), 2013-19
- Figure 4: Spain: Mixed goods retailers, sales as % of all retail sales, 2012-24
- Companies and brands
- Leading players
- Market shares
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- Figure 5: Spain: El Corte Inglés, share of mixed goods retailers’ sales, 2015-19
- Online
- The consumer
- What they buy
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- Figure 6: Spain: Products purchased in-store and online from a department store, January 2020
- Where they shop
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- Figure 7: Spain: Online and in-store shoppers at leading department stores, March 2018 and January 2020
- Attitudes to shopping at department stores
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- Figure 8: Spain: Attitudes to shopping at department stores, January 2020
- What we think
The Impact of COVID-19 on Department Stores
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- Short, medium and long-term impact on the sector
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- Figure 9: Short, Medium and long term impact of COVID-19 on Department Stores, May 2020
- Opportunities and threats
- Repercussions of COVID-19 could be permanent in some countries
- Social distancing measures will change the experience and retailers must react
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- Figure 10: OpenTable retail slot booking system, San Francisco, May 2020
- Disruption to tourism will hit department stores
- Strong online business is key to survival
- Adapting services to the ‘new-norm’
- Community, co-operation and ethical considerations come to the fore
- Impact on the department store sector
- Loss of tourism and local shoppers will hit department stores hard
- Forecast
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- Figure 11: Europe: Department stores market size and forecast, 2015-24
- Figure 12: Europe: Detailed Department stores market size and forecast, by country, 2014-24
- The impact of COVID-19 on consumer behaviour across Europe
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- Figure 13: Europe: Those extremely worried about the risk of being exposed to COVID-19, March and April 2020*
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- Figure 14: Europe: Those extremely worried about how the outbreak will affect their lifestyle, March and April 2020*
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- Figure 15: Europe: Changes made to lives as a result of the COVID-19, April 2020*
- People expect to spend less on key categories sold by department stores
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- Figure 16: Europe: Net balance of expected spending* on categories sold by department stores, April 2020**
- How the crisis will affect key consumer segments
- Concern about infection and changes to lifestyle both increase with age
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- Figure 17: Europe: Those extremely worried about the risk of being exposed to COVID-19, by age, April 2020*
- Across Europe spending patterns will be subdued in the short term
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- Figure 18: Europe: Net balance of expected spending* on beauty and toiletries, by age, April 2020**
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- Figure 19: Europe: Net balance of expected spending* on clothing and accessories, by age, April 2020**
- Men are more likely to spend more on clothing, women on beauty & personal care
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- Figure 20: Europe: Net balance of expected spending* on beauty and toiletries, by gender, April 2020**
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- Figure 21: Europe: Net balance of expected spending* on clothing and accessories, by gender, April 2020**
- Increase in online shopping varies across countries
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- Figure 22: Europe: Proportion of shoppers who increased their online shopping, April 2020*
- The shift to online entails more than just having an online shop
- COVID-19: Market context
- United Kingdom
- France
- Germany
- Italy
- Spain
Issues and Insights
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- COVID-19 set to have major impact on Spanish department store sales
- Gourmet gastronomy and foodservice are the way forward
- The facts
- The implications
- Appealing to younger consumers through experiential retail
- The facts
- The implications
The Market – What You Need to Know
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- Consumer spending
- Department stores’ share of the clothing and beauty markets
- ECI is the only department store in Spain
Consumer Spending
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- Recovering economy but slowing growth
- Fashion is the key category but is growing the slowest
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- Figure 23: Spain: Consumer spending on key department store product categories (including VAT), at current prices, 2015-19
- Department stores’ share of clothing and beauty markets
- Clothing
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- Figure 24: Spain: estimated distribution of consumer spending on clothing and footwear by channel, 2018
- Beauty and personal care
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- Figure 25: Spain: Estimated distribution of spending on beauty and personal care products by channel, 2018
Sector Size and Forecast
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- Department store sector size
- Mixed goods retailers sector
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- Figure 26: Spain: Mixed goods retailers, sales (excluding VAT), 2015-19
- Figure 27: Spain: Mixed goods retailers, forecast sales (excluding VAT), 2020-24
Companies and Brands – What You Need to Know
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- El Corte Inglés, the only Spanish department store
- ECI takes 80% of mixed goods sales
- Online shopping continues rise
Leading Players
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- El Corte Inglés, the only Spanish department store
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- Figure 28: Spain: Leading department store retailers, net revenues, 2015-19
- Figure 29: Spain: Leading department store retailers, outlets, 2015-19
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- Figure 30: Germany: Leading department store retailers, sales per outlet, 2015-19
Market Shares
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- Figure 31: Spain: El Corte Inglés share of mixed goods retailers’ sales, 2015-19
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Online
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- Online activity
- Internet access widespread
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- Figure 32: Spain: Proportion of households with broadband access, 2008-19
- Shopping online
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- Figure 33: Spain: Online purchases in the last 12 months compared to other countries, 2008-19
- Figure 34: Spain: Online purchases in the last 12 months in key categories, 2008-19
- Department stores online sales
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- Figure 35: Spain: Online and in-store shoppers at leading department stores, January 2020
- Leading online players
The Consumer – What You Need to Know
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- Clothing most common department store purchase
- Certain categories are bought predominantly online
- El Corte Inglés continues to grow its online presence
- In-store experience is key to success
- Extra services, exclusivity and events can attract online shoppers
Where They Shop
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- El Corte Inglés attracts 56% of consumers in-store and 39% online
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- Figure 36: Spain: In-store and online shoppers at leading department stores, March 2018 and January 2020
- Younger Spaniards predominant among in-store buyers
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- Figure 37: Spain: Demographic profile of El Corte Inglés, in-store shoppers, January 2020
- ECI still appeals more to affluent shoppers
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- Figure 38: Spain: Demographic profile of El Corte Inglés, online shoppers, January 2020
What They Buy
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- Fashion remains the predominant category
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- Figure 39: Spain: Products purchased in-store and online from a department store, January 2020
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- Figure 40: Spain: Products purchased in-store and online from a department store, by channel, January 2020
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- Figure 41: Spain: Products purchased in-store and online from a department store, by age, January 2020
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- Figure 42: Spain: Products purchased in-store and online from a department store, by gender, January 2020
Attitudes to Shopping at Department Stores
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- Enjoyable experience in-store is key
- ECI is considered expensive but extra services are strategic
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- Figure 43: Spain: Attitudes to shopping at department stores, January 2020
- Exclusivity and visiting as a day out appeals to younger consumers
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- Figure 44: Spain: Those agreeing with selected attitudinal statements, by age, January 2020
- Online shoppers still view department store shopping in better light
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- Figure 45: Spain: Those agreeing with selected attitudinal statements, by channel used, January 2020
Appendix – Data Sources, Abbreviations and Supporting Information
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- Abbreviations
- Data sources
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