Table of Contents
Executive Summary – Europe - The Market
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- Department store retailers’ sales
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- Figure 2: Big five European countries: Estimated department store sector sales (ex VAT) by country, 2012-15
- Leading department store groups
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- Figure 3: Europe: Top 30 leading department stores, 2011/12-2015/16
- Figure 4: European department stores, estimated total market size, 2011-15
- Mixed goods retailers’ sales
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- Figure 5: Europe: Mixed goods retailers sales, ex VAT, 2011-15
- Figure 6: Europe: Mixed goods retailers forecast sales, ex VAT, 2016-20
- Market shares
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- Figure 7: Europe: Top 10 department stores share of all department store sales, 2013-15
- Figure 8: European department stores: Sector structure, 2015
- Online
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- Figure 9: Online share of all department store sales, 2015
- Figure 10: UK, France, Spain, Germany, Italy share of Big 5 online department store sales, 2015
Executive Summary – Europe – The Consumer
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- Department stores in Europe
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- Figure 11: Proportion of survey respondents that have visited* a department store in the last 6 months, March* 2016
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- Figure 12: Proportion of survey respondents that have visited a department store outside their own country, March 2016
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- Figure 13: Most used department store by market and percentage of respondents using that store most regularly, March* 2016
- Satisfaction
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- Figure 14: Proportion of shoppers who are satisfied with attributes of their most used store, March* 2016
- What we think
- France
- Germany
- Italy
- Spain
- UK
Executive Summary – Europe – Launch Activity and Innovations
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- Creative Collaborations enhance in-store experience
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- Figure 15: Xavier Veilhan exhibition at Galeries Lafayette
- Galeria Kaufhof steps up on sustainability
- Galeries Lafayette’s eco-friendly rooftop garden
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- Figure 16: Galeries Lafayette, Boulevard Haussmann, Rooftop Garden
- The Printemps and Furla Home Warming Party
- A renewed focus on menswear departments
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- Figure 17: Galeries Lafayette, Boulevard Haussmann, Revamped menswear department
- A new emphasis on beauty for Le Bon Marché
- Le Bon Marché new footwear and homeware departments
- A Burberry Christmas at La Rinascente
France
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- Overview
- What you need to know
- Areas covered in this report
- Executive summary
- The market
- Spending and inflation
- Department stores’ share of clothing and beauty markets
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- Figure 18: France: Estimated retail distribution of spending on clothing, 2014
- Figure 19: France: Estimated retail distribution of spending on beauty and personal care goods, 2014
- Sector size and forecast
- Leading players
- Key metrics
- Market shares
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- Figure 20: France: Department stores’ share of mixed goods retailers’ sales, 2012 and 2015
- Online
- The consumer
- Where they shop
- Satisfaction levels
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- Figure 21: France: Department stores used most often, satisfaction with various criteria, March 2016
- What we think
- Issues and insights
- Struggling provincial stores
- The facts
- The implications
- Need to invest in online operations
- The facts
- The implications
- The market – What you need to know
- Consumer spend held back by high unemployment
- Department store sector sales remarkably resilient
- Department stores’ share of clothing and beauty markets
- Spending
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- Figure 22: France: Spending on key department store product markets, (incl. VAT), at current prices, 2010-15
- Department stores’ share of clothing and beauty markets
- Clothing
- Sector size and forecast
- Department store sector size
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- Figure 23: France: Department stores, estimates sector sales (excl VAT), 2011-15
- Mixed goods retailers sector
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- Figure 24: France: Mixed goods retailers’ sales (excl. VAT), 2010-15
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- Figure 25: France: Mixed goods retailers’ sales forecasts (excl. VAT), 2015-20
- Leading players – What you need to know
- A third consecutive year of falling sales for Galeries Lafayette
- Ramping up flagship store investment
- Market share gains in 2014 drop off in 2015
- Leading players
- Galeries Lafayette’s performance deteriorates
- Multi-million euro flagship store makeovers
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- Figure 26: France: Leading department stores retailers’ sales, 2011-15
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- Figure 27: France: Leading department store retailers, store numbers, 2011-15
- Figure 28: France: Leading department store retailers’ annual sales per outlet, 2011-15
- Market shares
- Gains made in 2014 lost in 2015
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- Figure 29: France: Leading department store retailers’ shares of mixed goods retailers’ sales, 2012-15
- Online
- Online activity
- Leading online players
- The consumer – What you need to know
- Low usage of department stores
- Customer profile is young and affluent
- Online offer needs to be improved
- Where they shop
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- Figure 30: France: Department stores visited, in-store or online, March 2016
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- Figure 31: France: Profile of department store shoppers, March 2016
- Satisfaction levels
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- Figure 32: France: Department store used most often, satisfaction with various criteria, March 2016
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- Figure 33: France: Galeries Lafayette and all other stores, satisfaction with various criteria, March 2016
- Appendix – Data sources, abbreviations and supporting information
- Abbreviations
- Data sources
Germany
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- Overview
- What you need to know
- Areas covered in this report
- Executive summary
- The market
- Spending and inflation
- Department stores’ share of clothing and beauty markets
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- Figure 34: Germany: Estimated distribution of consumer spending on clothing and footwear by value in % terms, 2014
- Sector size and forecast
- Leading players
- Key metrics
- Market shares
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- Figure 35: Germany: Estimated shares of mixed goods retailers’ sales by value, 2015
- Online
- The consumer
- Where they shop
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- Figure 36: Germany: The consumer: Department stores visited in the past six months, whether in-store or online, March 2016
- Satisfaction levels
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- Figure 37: Germany: The consumer: Attitudes to department stores, March 2016
- What we think
- Issues and insights
- Innovation needs to accelerate on core product areas
- The facts
- The implications
- Falling behind on online versus in-store service
- The facts
- The implications
- The market – What you need to know
- Consumer spending provides more buoyant background
- Department stores under competitive pressure
- Sector contracts again in 2015
- Spending
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- Figure 38: Germany: Spending on key department store product markets, (incl. VAT), at current prices, 2010-15
- Department stores’ share of clothing & beauty markets
- Mixed goods retailers the fourth largest channel for clothing
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- Figure 39: Germany: Estimated distribution of consumer spending on clothing and footwear by value in % terms, 2014
- Pressure from low price and online retailers
- Mixed goods retailers’ share of the beauty market
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- Figure 40: Germany: Estimated channels of distribution for personal care products (excluding services), 2013-15
- Sector size and forecast
- Department store sector size
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- Figure 41: Germany: Department store sector, estimated sales (excl. VAT), 2012-15
- Mixed goods sector continues relative decline
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- Figure 42: Germany: Mixed goods retailers’ sales (excl. VAT), 2010-15
- Figure 43: Germany: Mixed goods retailers’ sales forecasts (excl. VAT), 2015-20
- Leading players – What you need to know
- Market leader Galeria Kaufhof has a new owner
- KaDeWe also sees international investment
- Midmarket underperforms but upmarket operators fare better
- Online sales small
- Leading players
- Galeria Kaufhof bought by Canada’s Hudson’s Bay Company
- Midmarket operators miss out on growth in retail sales
- KaDeWe majority stake goes to Thailand’s Central Group
- Niche upmarket operators perform better
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- Figure 44: Germany: Leading department stores retailers’ sales, 2012-15
- Figure 45: Germany: Leading department store retailers, store numbers, 2012-15
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- Figure 46: Germany: Leading department store retailers’ annual sales per outlet, 2012-15
- Market shares
- Karstadt continues to fall behind Galeria Kaufhof
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- Figure 47: Germany: Leading department store retailers’ shares of mixed goods retailers’ sales, 2012-15
- Online
- Online activity
- Big department stores lag in online development
- The consumer – What you need to know
- Galeria Kaufhof a long way ahead
- Two main players closely positioned
- Customers happier with in-store experience than with online
- Where they shop
- Galeria Kaufhof remains market leader
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- Figure 48: Germany: The consumer: Department stores visited in the past six months, whether in-store or online, March 2016
- Customer profiles
- Main players attract affluent visitor base
- Dangers of cannibalisation
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- Figure 49: Germany: The consumer: Department stores visited in the past six months, whether in-store or online, average age and affluence, March 2016
- Satisfaction levels
- Changing rooms and staff attitude see highest satisfaction
- Room for improvement in advice, returns and catering
- Lack of strong views on many aspects
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- Figure 50: Germany: Department store used most often, satisfaction with various criteria, March 2016
- Attitudes to department stores and where people shop
- Galeria Kaufhof more often ahead on satisfaction
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- Figure 51: Germany: Attitudes to department stores and where people shop, March 2016
- Appendix – Data sources, abbreviations and supporting information
- Abbreviations
- Data sources
Italy
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- Overview
- What you need to know
- Areas covered in this report
- Executive summary
- The market
- Spending
- Department stores’ share of clothing and beauty markets
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- Figure 52: Italy: Estimated retail distribution of spending on clothing inc. VAT, 2014
- Figure 53: Italy: Estimated retail distribution of spending on beauty and personal care products, inc VAT, 2014
- Sector size and forecast
- Leading players
- Key metrics
- Market shares
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- Figure 54: Italy: Department stores’ estimated market shares, 2012 and 2015
- Online
- The consumer
- Where they shop
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- Figure 55: Italy: The consumer: Department stores visited, either in-store or online in the last six months, March 2016
- Satisfaction levels
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- Figure 56: Italy: Satisfaction levels with department store most regularly used in the last six months, March 2016
- What we think
- Issues and insights
- Online continues to lag behind
- The facts
- The implications
- Battle for youth
- The facts
- The implications
- The market – What you need to know
- Consumer spending improves for second consecutive year
- A small share of category spend
- Strong growth in the department store sector
- Time for online
- Spending
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- Figure 57: Italy: Spending on key department store product markets, (incl. VAT), at current prices, 2011-15
- Department stores’ share of clothing & beauty markets
- Clothing
- Beauty
- Sector size and forecast
- Department store sector size
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- Figure 58: Italy: Department store sector estimated sales (excl. VAT), 2011-15
- Mixed goods retailers sector
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- Figure 59: Italy: Mixed goods retailers’ sales (excl. VAT), 2010-15
- Figure 60: Italy: Mixed goods retailers’ sales forecasts (excl. VAT), 2015-20
- Leading players – What you need to know
- La Rinascente continues to outperform
- Coin sales stagnate
- Department stores lag in e-commerce development
- Leading players
- La Rinascente extends its lead over Coin
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- Figure 61: Italy: Leading department stores’ estimated net revenues, 2011-15
- Figure 62: Italy: Leading department store retailers’ store numbers, 2011-15
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- Figure 63: Italy: Leading department store retailers’ annual sales per outlet, 2011-15
- Market shares
- La Rinascente continues to grow its market share
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- Figure 64: Italy: Leading department store retailers’ shares of Department stores’ sales, 2012-15
- Figure 65: Italy: Leading department store retailers’ shares of Mixed goods retailers’ sales, 2012-15
- Online
- Online activity
- Leading online players
- The consumer – What you need to know
- Higher store count makes Coin the most popular
- Italian department stores excel on staff attitude and product availability
- La Rinascente leads on customer satisfaction
- Where they shop
- Coin the most popular department store
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- Figure 66: Italy: The consumer: Department stores visited, either in-store or online in the last six months, March 2016
- La Rinascente appeals to a younger customer
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- Figure 67: Italy: Age breakdown of consumers that have visited La Rinascente or Coin store in the past six months, March 2016
- Satisfaction levels
- Staff attitude and size availability provoke highest satisfaction
- Value for money generates the strongest level of dissatisfaction
- Lack of commitment to online
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- Figure 68: Italy: Department store visited most often, satisfaction with various criteria, March 2016
- Appealing to the young
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- Figure 69: Italy: Satisfaction with department stores, by age and affluence, March 2016
- La Rinascente generates higher levels of satisfaction
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- Figure 70: Italy: Satisfaction levels with department store most regularly used in the last six months, percentage point deviation from the average, March 2016
- Appendix – Data sources, abbreviations and supporting information
- Abbreviations
- Data sources
Spain
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- Overview
- What you need to know
- Areas covered in this report
- Executive summary
- The market
- Spending
- Department stores’ share of clothing and beauty markets
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- Figure 71: Spain: Estimated retail distribution of spending on clothing, 2014
- Figure 72: Spain: Estimated retail distribution of spending on beauty and personal care products, inc VAT, 2014
- Sector size and forecast
- Leading players
- Key metrics
- Market shares
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- Figure 73: Spain: El Corte Inglés’s share of mixed goods retailers’ sales, 2012 and 2015
- Online
- The consumer
- Where they shop
- Satisfaction levels
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- Figure 74: Spain: Satisfaction levels with department store most regularly used in the last six months, March 2016
- What we think
- Issues and insights
- El Corte Inglés on the road to recovery
- The facts
- The implications
- Attracting a younger market
- The facts
- The implications
- The market – What you need to know
- Spending turns a corner with smaller ticket categories leading the way
- ECI is second largest fashion group in Spain
- A sector with just one retailer
- Spending
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- Figure 75: Spain: Spending on key department store product markets, (incl. VAT), at current prices, 2010-15
- Department stores’ share of clothing & beauty markets
- Clothing
- Beauty
- Sector size and forecast
- Department store sector size
- Mixed goods retailers sector
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- Figure 76: Spain: Mixed goods retailers’ sales (excl. VAT), 2010-15
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- Figure 77: Spain: Mixed goods retailers’ sales forecasts (excl. VAT), 2015-20
- Leading players – What you need to know
- A sector with only one retailer
- Improvement in performance expected to continue
- Good potential online for department store product categories
- Leading players
- ECI back on an even keel
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- Figure 78: Spain: Leading department stores retailers’ net revenues, 2011-15
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- Figure 79: Spain: Leading department store retailers’ store numbers, 2011-15
- Figure 80: Spain: Leading department store retailers’ annual sales per outlet, 2011-15
- Market shares
- Gaining share of the mixed goods category
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- Figure 81: Spain: El Corte Inglés’s share of mixed goods retailers’ sales, 2012-15
- Online
- Online activity
- Leading online players
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- Figure 82: Spain: The consumer: Type of store bought from in the last six months, February 2015
- The consumer – What you need to know
- El Corte Inglés stands alone
- Satisfaction with elements of department store service
- Satisfaction with elements of service by demographics
- Where they shop
- The one and only El Corte Inglés
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- Figure 83: Spain: The consumer: Department stores visited, either in-store or online in the last six months, March 2016
- ECI customer profile
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- Figure 84: Spain: The consumer: Profile of respondents that had visited El Corte Inglés in the last six months, March 2016
- Satisfaction levels
- Customers satisfied with offer in-store
- Some dissatisfaction with pricing
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- Figure 85: Spain: Department store used most often, satisfaction with various criteria, March 2016
- Satisfaction levels by retailer
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- Figure 86: Spain: Satisfaction levels with El Corte Inglés, March 2016
- Satisfaction levels by demographics
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- Figure 87: Spain: Customer profile, satisfaction with elements of department store retailing, March 2016
- Appendix – Data sources, abbreviations and supporting information
- Abbreviations
- Data sources
UK
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- Overview
- What you need to know
- Areas covered in this Report
- Executive summary
- The market
- Growth slows in 2015
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- Figure 88: Best and worst case forecast for department stores sales, 2010-20
- Consumer background unhelpful
- Companies, brands and innovation
- John Lewis leading the sector
- M&S bringing up the rear
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- Figure 89: Top department stores’ market shares, 2014 and 2015
- John Lewis vs M&S
- The future of all department stores rests on integrating their online and in-store operations
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- Figure 90: Online share of leading department stores sales, 2013-15
- Space allocation
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- Figure 91: Department stores: Summary space allocation, March 2016
- Retail product mix
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- Figure 92: Leading department stores: Estimated share of sales by broad product category, 2015/16
- Brands
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- Figure 93: Attitudes towards and usage of selected brands, November and December 2015
- The consumer
- M&S drops in popularity among women
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- Figure 94: Department stores purchased from in the last six months, whether in-store or online, February 2016
- John Lewis gets high scores for delivery and returns
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- Figure 95: Department stores purchased from in the last six months, in-store or online, February 2016
- Customers happy with quality, but scope for improvement in availability of sizes and fashionable clothing ranges
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- Figure 96: Satisfaction with last purchase from a department store, by different factors, February 2016
- M&S no longer seen as value for money
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- Figure 97: Overall satisfaction with last department store shopped at, February 2016
- What would encourage shoppers to spend more?
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- Figure 98: What would encourage consumers to shop more at a department store, February 2016
- Is it worth paying extra for anything?
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- Figure 99: Willingness to pay extra for specific delivery options when shopping online at department stores, February 2016
- Interest in innovations
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- Figure 100: Interest in innovations when shopping at department stores, February 2016
- What we think
- Issues and insights
- How have department stores performed over the last year?
- The facts
- The implications
- What are the main growth opportunities for department stores?
- The facts
- The implications
- How are department stores competing in a multichannel world?
- The facts
- The implications
- The market – What you need to know
- Department store sales £15.4 billion, with modest growth expected.
- Most product sectors performing well
- Ageing population
- Consumer confidence holding up well
- Tourism boost
- Sector size and forecast
- Definitions
- Growth slows in 2015
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- Figure 101: Department stores: Sector sales, 2011-15
- Outlook
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- Figure 102: Best and worst case forecast for department stores sales, 2010-20
- Forecast – The data and methodology
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- Figure 103: Department store sales in current and constant prices, 2010-20
- Methodology
- Consumer spending
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- Figure 104: Consumer spending on key department store categories, 2011-15
- Market drivers
- Aging population
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- Figure 105: Trends in the age structure of the UK population, 2010-20
- Consumers remain cautious, but high earners prosper
- Leisure activities prioritised over retail spend
- Visitors to the UK on the rise
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- Figure 106: Overseas residents’ visits to the UK, by area of residence, 2014 and 2015
- Key players – What you need to know
- Creating exciting places to shop
- Fortnum & Mason the top performer
- M&S bringing up the rear
- John Lewis vs M&S
- The future of all department stores rests on integrating their online and in-store operations
- Space allocation
- Retail product mix
- Launch activity and innovations
- John Lewis invests £35 million in new Birmingham store
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- Figure 107: John Lewis’ new store in Grand Central, Birmingham
- New ‘department-less’ concept
- Selfridges launches Body Studio
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- Figure 108: Selfridges’ new Body Studio department, April 2016
- Harrods dedicates October to menswear
- Harvey Nichols’ beauty launches
- Department stores expand dining experiences
- New boutique department store for Sheffield
- Advertising and marketing activity
- Leading department stores cut back on advertising spend
- Leading department stores’ advertising spending
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- Figure 109: Recorded above-the-line, online display and direct mail total advertising expenditure by the leading department stores, 2012-15
- Television is now the favoured media type
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- Figure 110: Recorded above-the-line, online display and direct mail total advertising expenditure by the leading department stores, by media type, 2015
- Campaign highlights in 2015
- A note on adspend
- Leading specialist retailers
- High-end department stores suffer slowdown
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- Figure 111: Annual segment growth: Mid-market versus high-end, 2011-15
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- Figure 112: Major retailers’ annual sales growth (some estimated) versus average segment growth, 2015
- Leading retailers by sales
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- Figure 113: Leading department stores: Net revenues, 2011-15
- Consolidated sales versus gross transactional values
- Store numbers
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- Figure 114: Leading department stores: Outlet numbers, 2011-15
- Sales per store
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- Figure 115: Leading department stores: Annual sales per outlet, 2011-15
- Total sales area
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- Figure 116: Leading department stores: Total sales area, 2011-15
- Sales densities
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- Figure 117: Leading department stores: Annual sales per sq m, 2011-15
- Operating profits and margins
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- Figure 118: Leading department stores: Operating profits, 2011-15
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- Figure 119: Leading department stores: Operating margins, 2011-15
- Market shares
- John Lewis leading the sector
- M&S bringing up the rear
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- Figure 120: Top department stores’ market shares, 2014 and 2015
- John Lewis vs M&S
- House of Fraser strong recovery
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- Figure 121: Leading department stores’ market shares, 2011-15
- Online
- Leading retailers’ online sales
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- Figure 122: Leading department stores, estimated online sales, 2012-15
- Figure 123: Online share of leading department stores sales, 2013-15
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- Figure 124: Department store sales, 2012-15
- Click-and-collect
- Space allocation summary
- Overview
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- Figure 125: Department stores: Summary space allocation, March 2016
- Detailed space allocation
- House of Fraser refurbished beauty halls
- Debenhams introduces more third-party clothing concessions and eateries
- Selfridges welcomes The Conran Shop
- John Lewis’ in-store home hub
- Food occupies a quarter of M&S in-store space
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- Figure 126: Department stores: Detailed space allocation, March 2016
- Retail product mix
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- Figure 127: Estimated space allocation of broad department stores product categories, 2015
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- Figure 128: Leading department stores: Estimated sales by broad product category, 2015/16
- Figure 129: Leading department stores: Estimated share of sales by broad product category, 2015/16
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- Figure 130: Leading department stores: Estimated sales density by broad product category, 2015/16
- Brand research
- What you need to know
- Brand map
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- Figure 131: Attitudes towards and usage of selected brands, November and December 2015
- Key brand metrics
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- Figure 132: Key metrics for selected brands, November and December 2015
- Brand attitudes: Marks & Spencer is highly trusted
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- Figure 133: Attitudes, by brand, November and December 2015
- Brand personality: Harrods boasts the most exclusive image
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- Figure 134: Brand personality – Macro image, November and December 2015
- Brand personality: Selfridges seen as cutting-edge, yet expensive
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- Figure 135: Brand personality – Micro image, November and December 2015
- Brand analysis
- John Lewis is highly regarded by consumers
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- Figure 136: User profile of John Lewis, November 2015
- Harrods the most differentiated department store
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- Figure 137: User profile of Harrods, December 2015
- Selfridges is a fun brand, but could do with customer service improvements
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- Figure 138: User profile of Selfridges, December 2015
- Marks & Spencer enjoys a position of strength
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- Figure 139: User profile of Marks & Spencer, November 2015
- House of Fraser’s online service is an area of strength
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- Figure 140: User profile of House of Fraser, December 2015
- Debenhams associated with accessibility, but store experience is lacking
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- Figure 141: User profile of Debenhams, November 2015
- The consumer – What you need to know
- M&S drops in popularity among women
- John Lewis gets high scores for delivery and returns
- M&S no longer seen as value for money
- Own-brands are main draw
- Creating a leisure and retail destination
- Most demand for same-day delivery charges
- Millennials most drawn to innovations
- Where they shop
- M&S drops in popularity among women
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- Figure 142: Department stores purchased from in the last six months, whether in-store or online, February 2016
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- Figure 143: Department stores purchased from in the last six months, whether in-store or online, February 2015 and 2016
- John Lewis remains most popular online
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- Figure 144: Department stores purchased from in the last six months, in-store or online, February 2016
- Debenhams draws more young women
- Where consumers browse
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- Figure 145: Department stores where consumers have browsed in the last six months, either in-store or online, February 2016
- Satisfaction with department stores
- Customers happy with quality, but scope for improvement in availability of sizes and fashionable clothing ranges
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- Figure 146: Satisfaction with last purchase from a department store, by different factors, February 2016
- Key driver analysis
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- Figure 147: Key drivers of overall satisfaction with department store last shopped at, February 2016
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- Figure 148: Overall satisfaction with department store last shopped at – Key driver output, February 2016
- How the department stores compare
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- Figure 149: Overall satisfaction with last department store shopped at, February 2016
- How they perform on pricing and quality
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- Figure 150: Satisfaction with value for money, by department store last shopped at, February 2016
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- Figure 151: Satisfaction with product quality, by department store last shopped at, February 2016
- Figure 152: Satisfaction with promotions/offers, by department store last shopped at, February 2016
- How retailers score on fashionability and new product launches
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- Figure 153: Satisfaction with fashionable clothing range, by department store last shopped at, February 2016
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- Figure 154: Satisfaction with new product launches, by department store last shopped at, February 2016
- Figure 155: Satisfaction with new product launches, by department store last shopped at, February 2016
- Delivery, returns and click-and-collect
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- Figure 156: Satisfaction with delivery services, by department store last shopped at, February 2016
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- Figure 157: Satisfaction with returns process, by department store last shopped at, February 2016
- Figure 158: Satisfaction with click-and-collect, by department store last shopped at, February 2016
- What would encourage more shopping at department stores
- Own-brands are main draw
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- Figure 159: What would encourage consumers to shop more at a department store, February 2016
- Creating a leisure and retail destination
- Willingness to pay extra for delivery options
- Most demand for same-day delivery charges
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- Figure 160: Willingness to pay extra for specific delivery options when shopping online at department stores, February 2016
- Unwillingness to pay for click-and-collect
- Interest in innovations
- Millennials most drawn to innovations
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- Figure 161: Interest in innovations when shopping at department stores, February 2016
- A third of under-25s drawn to visual search apps
- Appendix – Data sources, abbreviations and supporting information
- Forecast methodology
- Sector benchmarks
- Department stores
- Mixed goods retailers
- Statutory revenues versus GTV
- Financial definitions
- Sales per store, sales per sq m
- Key driver analysis
- Interpretation of results
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- Figure 162: Overall satisfaction with last department store shopped at – Key driver output, February 2016
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- Figure 163: Satisfaction with department store shopped at last, February 2016
- Abbreviations
Coin
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- What we think
- Expanding the Coin Excelsior format
- Trouble for Excelsior Verona
- Expanding its appeal to the young
- Making progress with multichannel
- Company background
- Company performance
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- Figure 164: Coin: Group estimated sales performance, 2011/12-2015/16
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- Figure 165: Coin: Outlet data, 2011/12-2015/16
- Retail offering
Debenhams
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- What we think
- Bolstered multichannel capabilities
- First price right price strategy
- Reduction in stock levels across weather-sensitive categories, particularly clothing
- Renting out under-used shop space
- Enhanced customer service programme
- Injecting fresh talent into its Designers at Debenhams and other own brands
- Partners’ local market expertise driving international expansion
- Company background
- Company performance
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- Figure 166: Debenhams: Group financial performance, 2010/11-2014/15
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- Figure 167: Debenhams: Outlet data, 2010/11-2014/15
- Retail offering
El Corte Inglés (Department Stores)
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- What we think
- Upward turn in operating profits
- Change at the top hails a new era
- Possibilities abroad, priorities at home
- Positive improvements made
- Online offering
- Company background
- Company performance
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- Figure 168: El Corte Inglés (Department Stores): Group financial performance, 2010/11-2015/16
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- Figure 169: El Corte Inglés (Department Stores): Outlet data, 2011/12-2015/16
- Retail offering
Fenwick
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- What we think
- Shutters e-commerce site
- Store investment attracting new brands
- More store events
- Early house beauty service
- Company background
- Company performance
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- Figure 170: Fenwick Ltd: Group financial performance, 2010/11-2015/16
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- Figure 171: Fenwick Ltd: Outlet data, 2010/11-2015/16
- Retail offering
Galeria Kaufhof (Hudson’s Bay Company)
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- What we think
- New hope under HBC
- Keeping existing management in place
- HBC ownership will give it more negotiating power and investment
- Focus on beauty, shoes and handbags
- Major investment to include revamps of ten key store locations
- Online expansion and development needs to accelerate further
- Introducing the Saks OFF 5th outlet format
- Competition from fellow department store Karstadt remains weak
- Company background
- Company performance
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- Figure 172: Galeria Kaufhof: Group financial performance, 2010/11-2014/15
- Figure 173: Galeria Kaufhof: Outlet data, 2009/10-2014/15
- Retail offering
Galeries Lafayette
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- What we think
- Investing for the future
- Revamping Haussmann store after 15 years
- Shuts stores but French regional profitability remains a problem
- France still offers opportunities
- Online still small and targets remain modest
- Revamping own label could have dual benefits
- Overseas store plans ambitious but upside limited by franchise model
- Company background
- Company performance
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- Figure 174: Galeries Lafayette (Group): Group sales performance, 2010-15
- Figure 175: Galeries Lafayette: Outlet data, 2010-15
- Retail offering
Harrods
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- What we think
- Influential MD stepping down
- New Chinese visitor visa law boost
- Reaching out to affluent consumers
- New Mini Superbrands concept
- Company background
- Company performance
-
- Figure 176: Harrods Ltd: Group financial performance, 2010/11-2014/15
- Figure 177: Harrods Ltd: Outlet data, 2010/11-2015/16
- Retail offering
Harvey Nichols UK
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- What we think
- Expanding online delivery coverage
- A differentiated and compelling store proposition
- Loyalty card app
- Company background
- Company performance
-
- Figure 178: Harvey Nichols UK: Group financial performance, 2010/11-2015/16
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- Figure 179: Harvey Nichols UK: Outlet data, 2010/11-2015/16
- Retail offering
House of Fraser Plc
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- What we think
- Refurbished stores driving bricks-and-mortar like-for-like sales growth
- Multichannel investment boosts online sales growth
- Bricks-and-mortar overseas expansion
- Profitable own brand offering
- Company background
- Company performance
-
- Figure 180: House of Fraser Plc: Group financial performance, 2010/11-2014/15
-
- Figure 181: House of Fraser Plc: Outlet data, 2010/11-2014/15
- Retail offering
John Lewis
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- What we think
- Transforming the in-store experience
- UK store expansion
- Risk-averse approach to overseas opportunities
- E-commerce international expansion
- Digital shopping experience driving sales through mobile devices
- Fashion credentials
- Company background
- Company performance
-
- Figure 182: John Lewis Plc (department store): Group financial performance, 2011/12-2015/16
-
- Figure 183: John Lewis Plc (department store): UK outlet data, 2011/12-2015/16
- Retail offering
Karstadt (Signa Retail)
-
- What we think
- “Kaufstadt” tie up finally off the agenda
- Fashion focus on core customer of 45-plus woman
- Shakes up other merchandise areas with new partnerships
- Online strategy appears to be languishing
- KaDeWe Group has major investment planned
- Company background
- Company performance
-
- Figure 184: Karstadt (Signa retail): Group financial performance, 2010/11-2014/15
- Figure 185: Karstadt (Signa Retail): Outlet data, 2010/11-2014/15
- Retail offering
La Rinascente
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- What we think
- Adding an annex
- Lacking an online option
- Appealing to international visitors
- Company background
- Company performance
-
- Figure 186: Rinascente (Department Stores): Group sales performance, 2010/11-2014/15
-
- Figure 187: Rinascente (Department Stores): Outlet data, 2010/11-2014/15
- Retail offering
Le Bon Marché
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- What we think
- Stylish department makeovers helping drive revenue growth
- La Grande Epicerie de Paris to launch own-label range of gourmet food
- Exclusive brands and experiences strengthen destination status
- A must-see cultural tourist icon
- 24 Sèvres helping to attract a younger clientele
- Company background
- Company performance
-
- Figure 188: LVMH Selective Retail, financial performance, 2011-15
-
- Figure 189: Le Bon Marché: Estimated sales performance, 2011-15
- Figure 190: Le Bon Marché: Outlet data, 2011-15
- Retail offering
Marks & Spencer
-
- What we think
- New chief executive to breathe new life into M&S’ fashion range
- New beauty ambassador and revamped beauty halls
- New loyalty scheme launched
- Working on improving the store experience
- Expanding click-and-collect options
- Company background
- Company performance
-
- Figure 191: Marks & Spencer: Group financial performance, 2010/11-2015/16
- Figure 192: Marks & Spencer: Outlet data, 2010/11-2014/15
-
- Figure 193: Marks & Spencer: Store portfolio, September 2015
- Retail offering
Printemps
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- What we think
- Stay-away high-spending tourists and stay-at-home French shoppers
- 150th anniversary campaign reinforces Printemps brand image
- The largest menswear store in the world expected to be a big draw
- M-commerce an opportunity to engage and connect with a younger audience
- Sunday opening hours negotiation deadlock robs Printemps of additional revenue
- Company background
- Company performance
-
- Figure 194: Printemps: Estimated group financial performance, 2011-15
- Figure 195: Printemps: Outlet data, 2011-15
- Retail offering
Selfridges Retail
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- What we think
- 37,000 sq ft Body Studio
- Personalised shopping experience
- Shopping can and should be about more than just price or convenience
- Enhanced multichannel capabilities
- Company background
- Company performance
-
- Figure 196: Selfridges Retail Ltd: Group financial performance, 2010/11-2015/16
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- Figure 197: Selfridges Retail Ltd: Outlet data, 2010/11-2015/16
- Retail offering
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