Table of Contents
Executive Summary
Report Scope and Technical Notes
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- Coverage
- New report format
- Technical notes
- Sector definitions
- Store definitions
- Buying groups, voluntary groups and co-operatives
- Market sizes
- Financial definitions
- Currencies
- Country codes
- VAT
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- Figure 1: Europe: Standard VAT rates, 2010-12
- Abbreviations
Spending and Inflation
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- Key points
- Consumer spending
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- Figure 2: Spain: Households consumption expenditure, 2007-11
- Consumer prices inflation
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- Figure 3: Spain: Harmonised indices of consumer prices: Annual % change food and drink, Jan 2011-Sep 2012
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- Figure 4: Spain: Harmonised indices of consumer prices: Annual % change tobacco, Jan 2011-Sep 2012
Distribution of Spending
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- Figure 5: Spain: Estimated distribution of spending on food, beverages and tobacco, 2011
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Sector Size and Forecast
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- Key points
- Sector sales
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- Figure 6: Spain: Retail sales, 2007-11
- Figure 7: Spain: Retail sales forecasts, 2012-17
- Enterprises and employment
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- Figure 8: Spain: Number of retail enterprises, 2008-09
- Figure 9: Spain: Number of full-time-equivalent employees in retailing, 2008-09
Sector Sales Mix
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- Figure 10: Spain: Estimated sales mix for the grocers’ sector, 2011
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The Retailers: Financials and Outlets
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- Key points
- Mercadona the star performer
- Discounters gain ground
- Hypermarkets – what does the future hold?
- Carrefour has the scale and potential to recover
- Regional supermarkets gain ground
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- Figure 11: Spain: Leading grocery retailers, by sales, 2009-11
- Figure 12: Spain: Leading grocery retailers’ outlet numbers, 2009-11
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- Figure 13: Spain: Leading grocery retailers’ estimated sales per outlet, 2009-11
The Retailers: Market Shares
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- Figure 14: Spain: Leading grocery retailers’ shares of all food retailers sales, 2009-11
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The Consumer: Where They Shop
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- Key points
- Main-shop destinations
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- Figure 15: Spain: Grocers used for a main shop, September 2012
- Main-shop consumers by demographics
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- Figure 16: Spain: Leading grocers’ main-shop consumers, by average age and affluence, September 2012
- Top-up shop destinations
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- Figure 17: Spain: Grocers used for top-up shops, September 2012
- Top-up shoppers by demographics
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- Figure 18: Spain: Leading grocers’ top-up consumers, by average age and affluence, September 2012
The Consumer: Shopping Habits
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- Key points
- Consumers change their shopping patterns
- Driven by price consumer are switching retailer
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- Figure 19: Spain: Grocery shopping habits, May 2012
- Shopping habits by demographic
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- Figure 20: Spain: Selected Grocery shopping habits, by socio-economic group, May 2012
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- Figure 21: Those that have switched some of their grocery shopping to a cheaper value retailer by where they shop, May 2012
Online
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- Key points
- Who shops online?
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- Figure 22: Spain: Percentage of all individuals having purchased online in the past 12 months, selected categories, 2007-11
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- Figure 23: Spain: Percentage of individuals having purchased food/groceries online in the past 12 months, by age band, 2007-11
- Leading websites
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- Figure 24: Leading grocers’ websites, May 2012
Aldi
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- What we think
- Company background
- Company performance
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- Figure 25: Aldi: Group financial performance, 2007-11
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- Figure 26: Aldi: Outlet data, 2007-11
- Retail offering
Auchan
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- What we think
- Eastwards shift
- A strong foundation
- With decentralised operations
- Strong own-brand
- Commitment to e-commerce
- Non-food activities
- Company background
- Company performance
- By region
- By activity
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- Figure 28: Auchan: Group financial performance, 2007-11
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- Figure 29: Auchan: Estimated European sales, by country, 2007-11
- First half 2012
- Stores
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- Figure 30: Auchan: European grocery stores outlet data, 2007-11
- Store formats
- Retail offering
Carrefour
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- What we think
- Dreadful results but brighter prospects
- Cutting the global footprint to improve liquidity
- What does the future hold for hypermarkets?
- Multi-channel strategy
- Company background
- Company performance
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- Figure 31: Carrefour (Europe): Group financial performance, 2007-11
- Figure 32: Carrefour (Europe): Directly-operated outlet data, 2007-11
- Store formats
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- Figure 33: Carrefour (Europe): Total European outlet numbers by format (incl. franchise/partner stores), 2007-11
- Retail offering
Groupement des Mousquetaires (Intermarché, Netto)
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- What we think
- Decent 2011 performance
- New multi-format strategy paying off
- Creating point of difference
- Potential growth drivers
- Company background
- Company performance
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- Figure 34: Groupement des Mousquetaires: Sales performance, 2007-11
- Figure 35: Groupement des Mousquetaires: Group outlet data, 2007-11
- Store formats
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- Figure 36: Groupement des Mousquetaires: Food outlet data and range by format type, 2011
- Retail offering
E. Leclerc
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- What we think
- Solid track record based on offering consistently low prices
- Strong hypermarket performance
- Non-foods and drive-thru boost growth too
- Accelerated capital investment will drive market share gains
- What risks?
- Company background
- Company performance
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- Figure 37: E. Leclerc: Group sales performance, 2007-12
- Figure 38: Estimated International sales by country, 2010 and 2011
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- Figure 39: E. Leclerc: Group outlet data, 2007-11
- Non-food formats
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- Figure 40: E Leclerc: Non-food outlets, 2011
- Retail offering
Lidl/Kaufland (Schwarz Group)
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- What we think
- Can Lidl’s online non-foods offer be exported?
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- Figure 41: Schwarz Group: Lidl stores per million capita, 2011
- Prospects in Germany: Lidl
- Prospects for Kaufland
- Scaling back hard-discount in France
- Outpaced by Aldi in the UK
- Company background
- Company performance
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- Figure 42: Schwarz Group: Group financial performance, 2007/08-2011/12
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- Figure 43: Schwarz Group: Outlet data, 2007/08-2011/12
- Retail offering
Mercadona
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- What we think
- A well run business with an outstanding track record
- Continued investment and expansion
- Pro-actively engaging with customers
- Company background
- Company performance
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- Figure 45: Mercadona: financial performance, 2007-11
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- Figure 46: Mercadona: Directly-operated outlet data, 2007-11
- Retail offering
Spar Europe
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- What we think
- Company background
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- Figure 47: Spar International: Year of entry, by country
- Company performance
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- Figure 48: SPAR International: Retail sales by country, 2007-11
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- Figure 49: SPAR International: Outlet data, 2007-11
- Retail offering
Appendix – Broader Market Environment
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- Population
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- Figure 50: Europe: Population, by age group, 2005
- Figure 51: Europe: Population, by age group, 2010
- Figure 52: Europe: Population, by age group, 2015
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- Figure 53: Europe: Population, by age group, 2020
- GDP
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- Figure 54: Europe: GDP (current prices), 2011
- Figure 55: Europe: Year-on-year growth in GDP (current prices), 2002-12
- Figure 56: Europe: Year-on-year growth in GDP (constant prices), 2002-12
- Consumer spending
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- Figure 57: Europe: Households’ consumer spending (current prices), 2011
- Figure 58: Europe: Year-on-year growth in households’ consumption expenditure (current prices), 2007-11
- Figure 59: Europe: Year-on-year growth in households’ consumption expenditure (constant prices), 2007-11
- Consumer prices
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- Figure 60: Europe: Harmonised index of consumer prices, 2001-11
- Unemployment
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- Figure 61: Europe: Average rate of unemployment, 2002-2012 Q2
- Interest rates
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- Figure 62: Europe: Interest rates, 2007-12
- Consumer confidence
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- Figure 63: Europe: Consumer confidence, Oct 2011-Sep 2012
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