Table of Contents
Introduction
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- Definitions
- Financial definitions
- Abbreviations
Executive Summary
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- The market
- The forecast
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- Figure 1: Electrical goods specialists sector sales and forecast, 2006-16
- Online
- Companies, brands and innovation
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- Figure 2: Leading retailers estimated share of electrical goods spending*, 2010 and 2011
- Space allocation
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- Figure 3: Electricals retailers, summary space allocation, April 2012
- Figure 4: Estimated sales breakdown, 2011/12
- Brand positioning
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- Figure 5: Attitudes towards and usage of brands in the electrical retail sector, March 2012
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- Figure 6: Consumer perceptions of current electrical goods retail brand performance, March 2012
- The Consumer
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- Figure 7: proportion of consumers who have bought electricals from leading retailers, 2012
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- Figure 8: Main stores used for buying brown goods, April 2012
- Consumers are more cautious
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- Figure 9: Consumer Attitudes to buying electrical products, 2011 and 2012
- Buying electricals online
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- Figure 10: Consumer attitudes to buying and researching electrical goods, March 2012
- Figure 11: Profile of attitudes to shopping online, March 2012
- What we think
Issues in the Market
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- What is the role of service in electricals retailers?
- Can an Internet retailer really lead on price?
- Will online grow further?
- Is it still possible to make a distinction between online and in-store sales?
- So are we heading for major changes in the market?
Future Opportunities
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- Trend: Experience is all
- Trend: Why buy
Economic and Demographic Context
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- Key Points
- Ageing population
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- Figure 12: UK: Over-65s as a percentage of the total UK population, 1991-2020
- The economy
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- Figure 13: UK: Real-terms, year-on-year GDP growth, Q1 2009 – Q1 2012
- Confidence
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- Figure 14: UK: Consumer confidence and retail trade confidence, Jan 2011 – mar 2012
- Inflation
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- Figure 15: consumer prices index household appliances, jan 2011-jan 2012
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- Figure 16: consumer prices index audio-visual, telecoms, recording media, Jan 2011-jan 2012
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- Figure 17: consumer prices index photographic and IT goods, Repairs, Jan2011-Feb 2012
Consumer Spending on Electrical Products
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- Key Points
- Electricals spending continues to be hit by deep deflation
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- Figure 18: UK: Consumer spending on electrical goods, by major category, 2007-11
- A very different picture in constant prices
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- Figure 19: UK: Consumer spending on electrical goods, by major category, 2007-11
- Electrical goods as a share of all spending
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- Figure 20: UK: Consumer spending on electrical goods as % of all consumer spending, 2007-11
- Category performance and prospects
Sector Size and Forecast
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- Key Points
- Sector size
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- Figure 21: Electrical goods specialists sales, 2006-11
- Figure 22: Electrical goods specialists sales relative to all retailers sales, 2001-11
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- Figure 23: Electrical goods specialists’ sales as % all spending on electrical goods, 2001-11
- Sector sales forecast
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- Figure 24: Electrical goods specialists sector sales and forecast, 2006-16
- Figure 25: Electricals retailers sales, 2006-16f
- Outlet data
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- Figure 26: UK: Electrical goods specialists: outlet numbers, 2008 and 2009
- Forecast methodology
Strengths and Weaknesses
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- Weaknesses
Who’s Innovating
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- Try before you buy
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- Figure 27: Ybuy’s homepage, April 2012
- New store formats
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- Figure 28: Google Chrome store in Currys-PC World, Tottenham Court Road, London, April 2012
- Figure 29: Currys Black, Westfield Stratford, May 2012
- Harrods expands with Dixons
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- Figure 30: Harrods Technology, April 2012
- Currys diversifies
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- Figure 31: Dixon’s Knowhow movie site, April 2012
- Improved purchasing options
- Improving own brand
- Innovative marketing
Channel of Distribution
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- Key Points
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- Figure 32: UK: Electricals market, estimated channels of distribution, 2011
- Specialists and non-specialists
- Home shopping
- Direct from manufacturer
- Trade distributors
Space Allocation Summary
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- Key Points
- Space allocation estimates
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- Figure 33: Leading electricals retailers, summary space allocation, April 2012
- Figure 34: Electricals retailers, summary space allocation, April 2012
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- Figure 35: Summary sales area estimates, April 2012
Retail Product Mix
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- Figure 36: Estimated sales breakdown, 2011/12
- Estimated sales density by product
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- Figure 37: Estimated sales densities, 2011/12
- Market shares
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- Figure 38: Electricals retailers: Estimated Market share, by product category, 2011
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Leading Retailers
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- Key Points
- Leading Electrical Specialists
- Sector consolidation
- Three main groupings remain
- Best Buy exits while Comet returns to its low price roots
- Further sales contraction in 2011
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- Figure 39: UK: Leading electrical and computing specialists, 2010/11
- Leading Non-Specialists and Non-Store Retailers
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- Figure 40: leading non-specialists and non-store retailers, 2010/11
- Non-specialist and non-store retailers’ profiles
- Argos
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- Figure 41: Argos shoppers in last three years, by gender, age and socio-economic group, April 2012
- Figure 42: Argos shoppers in last three years, by region and working status, April 2012
- Amazon
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- Figure 43: Amazon shoppers in last three years, by gender, age and socio-economic group, April 2012
- Figure 44: Amazon shoppers in last three years, by region and working status, April 2012
- John Lewis
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- Figure 45: John Lewis shoppers in last three years, by gender, age and socio-economic group, April 2012
- Figure 46: John Lewis shoppers in last three years, by region and working status, April 2012
- Tesco
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- Figure 47: Tesco shoppers in last three years, by gender, age and socio-economic group, April 2012
- Figure 48: Tesco shoppers in last three years, by region and working status, April 2012
- J. Sainsbury
Market shares
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- Leading retailers of electrical goods – share of all consumer spending on this category
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- Figure 49: Leading retailers estimated share of electrical goods spending*, 2010 and 2011
- Electricals specialists - share of all sales through the electricals specialists sector
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- Figure 50: Leading electrical and computing specialists’ estimated shares of the specialists sector*, 2010 and 2011
Online
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- A fragmented online market
- Can pure play specialists survive?
- Play.com will be hit by the tax loophole closure
- Non-specialists have a rosier future
- Direct from suppliers
- Online spending
- Leading players
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- Figure 51: leading online retailers: estimated online electrical sales, 2010 and 2011
- Online buying trends
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- Figure 52: UK: types products purchased on the internet in the last three months, 2009-2011
- Electrical specialists – online visitor data
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- Figure 53: Leading electrical retailers and suppliers websites, three-month average to march 2012
Advertising and Promotion
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- Key Points
- Leading advertisers
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- Figure 54: Leading electricals retailers’ advertising spending, 2007-11
- Spending relative to turnover
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- Figure 55: Leading electricals specialists’ advertising spending as % of sales, 2007-10
- Spending by media
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- Figure 56: Leading electricals retailers’ spending on advertising, by media, 2011
- Major TV campaigns
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- Figure 57: Currys-PC World’s Star Wars campaign
Brand Research
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- Brand map
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- Figure 58: Attitudes towards and usage of brands in the electrical retail sector, March 2012
- Correspondence analysis
- Brand attitudes
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- Figure 59: Attitudes, by electrical goods retail brand, March 2012
- Brand personality
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- Figure 60: Electrical good retail brand personality – macro image, March 2012
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- Figure 61: Electrical goods retail brand personality – micro image, March 2012
- Brand experience
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- Figure 62: Electrical goods retail brand usage, March 2012
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- Figure 63: Satisfaction with various electrical goods retail brands, March 2012
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- Figure 64: Consideration of electrical goods retail brands, March 2012
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- Figure 65: Consumer perceptions of current electrical goods retail brand performance, March 2012
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- Figure 66: Electrical goods retail brand recommendation – Net Promoter Score, March 2012
- Brand index
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- Figure 67: Electrical goods retail brand index, March 2012
- Figure 68: Electrical goods retail brand index vs. recommendation, March 2012
- Target group analysis
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- Figure 69: Target groups, March 2012
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- Figure 70: Electrical goods retail brand usage, by target groups, March 2012
- Group One – Conformists
- Group Two – Simply the Best
- Group Three – Shelf Stalkers
- Group Four – Habitual Shoppers
- Group Five – Individualists
Consumer – Where People Buy Electricals
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- Key Points
- Who has bought what
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- Figure 71: Electricals products bought in the last three years, April 2012
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- Figure 72: Who buys what electrical goods, April 2012
- Where do people buy?
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- Figure 73: Electricals products bought in the last three years, April 2012
- Retailer customer profile – all purchases
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- Figure 74: Retailer customer profile for all electricals purchases, April 2012
- Retailer customer profile – brown goods
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- Figure 75: Main stores used for buying brown goods, April 2012
- Retailer customer profile – White goods
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- Figure 76: Main stores used for buying White goods, April 2012
- What people buy and where they buy it
The Consumer - Attitudes to Buying Electrical Goods
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- Key Points
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- Figure 77: Consumer attitudes to buying electrical products, March 2012
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- Figure 78: Consumer attitudes to buying electrical products, 2010- 2012
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- Figure 79: Consumer attitudes to buying electrical goods, by age and socio-economic group, March 2012
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- Figure 80: Consumer attitudes to shopping and shops used for electricals products, March 2012
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- Figure 81: Consumer attitudes to shopping and shops used for electricals products, March 2012 (cont)
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- Figure 82: Consumer attitudes to shopping and electricals products bought, March 2012
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- Figure 83: Consumer attitudes to shopping and electricals products bought, March 2012 (Cont)
The Consumer - Electricals and the Internet – Consumer Attitudes
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- Key Points
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- Figure 84: Consumer attitudes to retailers used, March 2012
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- Figure 85: Profiles of electricals buyers attitudes, March 2012
- 35-44 year-old C1 male
- 35-44-year-old C2 female
- Attitudes by products bought
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- Figure 86: Consumer attitudes to retailers and electricals products bought, March 2012
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- Figure 87: Consumer attitudes to retailers and electricals products bought, March 2012
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- Figure 88: Consumer attitudes to retailers, by retailer bought from, March 2012
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- Figure 89: Consumer attitudes to retailers, by retailer bought from, March 2012 (cont)
The Consumer - Target groups
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- Figure 90: Electricals shoppers, target groups, March 2012
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- Figure 91: Attitudes of target group, March 2012
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- Figure 92: Target groups profile, March 2012
- Target groups shopping habits
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- Figure 93: Target groups use of electricals retailers, March 2012
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- Figure 94: Target group shopping preferences, March 2012
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Apple Retail
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- Figure 95: Apple Retail UK: Sales as share of electrical/PC/telecoms specialists’ sales in UK, 2007-11
- Strategic evaluation
- Retail outlets
- Background
- Company performance
- UK sales
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- Figure 96: Apple Retail: Group financial performance, 2006/7-2010/11
- 2011/12
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- Figure 97: Apple Retail: Outlet data, 2006/7-2010/11
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- Figure 98: Apple Retail: European stores, May 2012
- Store formats
- Retail offering
- Space allocation
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- Figure 99: Apple Retail, Summary space allocation, April 2012
- Figure 100: Apple Retail: space allocation, April 2012
- E-commerce
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- Figure 101: Apple.com: Online consumer demographics, three month average to March 2012
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Comet Group Ltd
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- Figure 102: Comet Group Ltd: Sales as share of all electricals specialists’ sales in UK, 2007-11(est)
- Strategic evaluation
- Cut loose from Kesa
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- Figure 103: Comet’s refreshed store look (post-2010), Croydon store
- Heading in the wrong direction?
- Long-term growth demands investment
- Synergies with Game?
- Background
- Company performance
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- Figure 104: Comet Group Ltd: Financial performance, 2006/7-2010/11
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- Figure 105: Comet Group Ltd: Financial performance, H1 2011/12
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- Figure 106: Comet Group Ltd: Outlet data, 2006/7-2010/11
- Consumer profile
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- Figure 107: Comet shoppers in last three years, by gender, age, and socio-economic group, April 2012
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- Figure 108: Comet shoppers in last three years, by gender, age, and socio-economic group, April 2012
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- Figure 109: Comet shoppers in last three years, by gender, age, and socio-economic group, April 2012
- Retail offering
- Space allocation
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- Figure 110: Comet, Summary space allocation, April 2012
- Figure 111: Comet space allocation, April 2012
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- Figure 112: Currys/PC World sales, space and market share estimates, 2011/12
- Online allocation
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- Figure 113: Comet Group Ltd: Online product offer broken down, by number of SKUs offered, April 2012
- E-commerce
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- Figure 114: Comet Group Ltd: Estimated e-commerce sales, years ending April, 2007-11
- Figure 115: Comet.co.uk: Profile of visitors, three-month average to March 2012
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Dixons Retail (UK)
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- Figure 116: Dixons Retail UK: Sales as share of electrical/PC/telecoms specialists’ sales in UK, 2007-11
- Strategic evaluation
- Economic climate holds back Renewal and Transformation programme
- Encouraging 2011/12 sales after a poor first half
- Dual model
- Online developments
- Competition eases in the UK
- Background
- Company performance
- Turbulent times
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- Figure 117: Dixons Retail: UK and Ireland financial performance, 2007/08-2010/11
- Challenging first half in 2011/12
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- Figure 118: Dixons Retail plc: First half financial performance, 2010/11-2011/12
- 2011/12 preliminary figures – strong recovery in the final quarter
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- Figure 119: Dixons Retail: sales performance, 2011/12
- Planning fewer but larger stores
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- Figure 120: Google Chrome shop-in-shop at Currys/PC world, April 2012
- Figure 121: Bose shop-in-shop at Currys/PC world, April 2012
- Sales densities slide again
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- Figure 122: Dixons Retail: Group and UK & Ireland Outlet data, 2005/06-2010/11
- New format development slows
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- Figure 123: Dixons Retail: UK new format store numbers 2009-12
- Black
- Consumer profiles
- Currys Digital (high street stores)
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- Figure 124: Currys.digital shoppers in last three years, by gender, age, and socio-economic group, April 2012
- Figure 125: Currys.digital shoppers in last three years, by region and working status, April 2012
- Currys/PC world (2-in-1 superstores)
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- Figure 126: Currys/PC world shoppers in last three years, by gender, age, and socio-economic group, April 2012
- Figure 127: Currys/PC world shoppers in last three years, by region and working status, April 2012
- Retail offering
- Space allocation
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- Figure 128: Currys/PC World stores: Summary space allocation, April 2012
- Figure 129: Currys.digital: Summary space allocation, April 2012
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- Figure 130: Currys/PC World and Currys.digital space allocation, April 2012
- Figure 131: Currys/PC World: sales, space and market share estimates, 2011/12
- Figure 132: Currys.digital, space and market share estimates, 2011/12
- e-commerce
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- Figure 133: Currys: Online consumer demographics, three month average to April 2012
- Figure 134: PC World: Online consumer demographics, three month average to April 2012
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E-Square
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- Strategic evaluation
- Online still a challenge for EP
- Background
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- Figure 135: E-Square: Members and websites, by country of operation, 2012
- EP
- EDA
- Company performance
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- Figure 136: E-Square: Estimated Retail sales, by country, 2010/11
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- Figure 137: ElectronicPartner: Group financial performance, 2007-11
- Store portfolio
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- Figure 138: E-Square: Store numbers, by country, 2010/11
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- Figure 139: ElectronicPartner: Membership data, 2007-11
- Figure 140: ElectronicPartner: Affiliated branded stores and membership, by country, 2011
- Store formats
- Retail offering
- E-commerce
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- Figure 141: E-Square: Affiliated online stores, 2012
Euronics International
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- Figure 142: Euronics: Estimated sales as share of electrical specialists’ sales in Europe, 2007-11
- Figure 143: Euronics: Estimated sales as share of electrical/pc/telecoms specialists’ sales in UK, 2007-11
- Strategic evaluation
- Three strands to growth
- Leveraging the brand name
- Slowly embracing multi-channel
- Growing threat in the UK
- Background
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- Figure 144: Euronics: European members and fascia, by country of operation, 2012
- Company performance
- European electricals sector slows in 2011
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- Figure 145: Euronics International: Sales, 2001-11
- Retail sales by country
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- Figure 146: Euronics International: Total retail sales for major countries, 2006 and 2009-11
- Wide coverage with smaller than average stores
- Run by owner/managers
- Store numbers volatile
- Euronics fascia growing
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- Figure 147: Euronics International: Outlet data 2011-12
- Membership developments
- Retail offering
- E-commerce
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Maplin Electronics Ltd
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- Figure 148: Maplin Electronics Ltd: Sales as share of all electricals retailers’ sales in UK, 2006-2011(e)
- Strategic evaluation
- Background
- Company performance
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- Figure 149: Maplin Electronics Ltd: Group financial performance, 2006-2011*
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- Figure 150: Maplin: Direct sales as % of total sales and annual % change in direct sales, 2006-10
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- Figure 151: Maplin Electronics Ltd: Outlet data, 2006-2011
- E-commerce
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- Figure 152: Maplin: Online customer profile, three-month average to March 2012
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Appendix – Brand Research
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- Figure 153: Brand usage, March 2012
- Figure 154: Brand commitment, March 2012
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- Figure 155: Brand momentum, March 2012
- Figure 156: Brand diversity, March 2012
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- Figure 157: Brand satisfaction, March 2012
- Figure 158: Brand recommendation, March 2012
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- Figure 159: Brand attitude, March 2012
- Figure 160: Brand image – macro image, March 2012
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- Figure 161: Brand image – micro image, March 2012
- Figure 162: Profile of target groups, by demographic, March 2012
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- Figure 163: Psychographic segmentation, by target group, March 2012
- Figure 164: Brand usage, by target group, March 2012
- Brand index
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- Figure 165: Brand index, March 2012
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Appendix – Broader Market Environment
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- Population
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- Figure 166: Europe: Population, by age group, 2005
- Figure 167: Europe: Population, by age group, 2010
- Figure 168: Europe: Population, by age group, 2015
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- Figure 169: Europe: Population, by age group, 2020
- GDP
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- Figure 170: Europe: GDP, at current prices, 2011
- Figure 171: Europe: GDP growth rates, at current prices, 2001-11
- Figure 172: Europe: GDP growth rates, at constant prices, 2001-11
- Consumer spending
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- Figure 173: Europe: Households’ consumer spending, at current prices, 2011
- Figure 174: Europe: Households’ consumer spending growth rates, at current prices, 2001-11
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- Figure 175: Europe: Households’ consumer spending growth rates, at constant prices, 2001-11
- Consumer prices
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- Figure 176: Europe: Harmonised index of consumer prices, 2001-11
- Unemployment
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- Figure 177: Europe: Average rate of unemployment, 2001-2011
- Interest rates
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- Figure 178: Europe: Interest rates, 2005 – Q4 2011
- Consumer confidence
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- Figure 179: Europe: Consumer confidence, Apr 2011 – Mar 2012
Appendix – Where People Buy Electricals
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- Figure 180: Most popular electrical products bought in the last three years, March 2012
- Figure 181: Next most popular electrical products bought in the last three years, March 2012
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- Figure 182: Other electrical products bought in the last three years, March 2012
- Figure 183: Most popular electrical products bought in the last three years, March 2012
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- Figure 184: Next most popular electrical products bought in the last three years, March 2012
- Figure 185: Other electrical products bought in the last three years, March 2012
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