Table of Contents
Executive Summary
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- The market
- Spending and inflation
- Department stores’ share of clothing and beauty markets
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- Figure 1: France: Estimated retail distribution of spending on clothing, 2014
- Figure 2: 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 3: 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 4: France: Department stores used most often, satisfaction with various criteria, March 2016
- What we think
Issues and Insights
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- Struggling provincial stores
- The facts
- The implications
- Need to invest in online operations
- The facts
- The implications
The Market – What You Need to Know
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- 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 5: France: Spending on key department store product markets, (incl. VAT), at current prices, 2010-15
- Department stores’ share of clothing and beauty markets
- Clothing
- Beauty
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Sector Size and Forecast
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- Department store sector size
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- Figure 6: France: Department stores, estimates sector sales (excl VAT), 2011-15
- Mixed goods retailers sector
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- Figure 7: France: Mixed goods retailers’ sales (excl. VAT), 2010-15
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- Figure 8: France: Mixed goods retailers’ sales forecasts (excl. VAT), 2015-20
Leading Players – What You Need to Know
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- 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
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- Galeries Lafayette’s performance deteriorates
- Multi-million euro flagship store makeovers
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- Figure 9: France: Leading department stores retailers’ sales, 2011-15
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- Figure 10: France: Leading department store retailers, store numbers, 2011-15
- Figure 11: France: Leading department store retailers’ annual sales per outlet, 2011-15
Market Shares
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- Gains made in 2014 lost in 2015
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- Figure 12: France: Leading department store retailers’ shares of mixed goods retailers’ sales, 2012-15
Online
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- Online activity
- Leading online players
The Consumer – What You Need to Know
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- 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 13: France: Department stores visited, in-store or online, March 2016
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- Figure 14: France: Profile of department store shoppers, March 2016
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Satisfaction Levels
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- Figure 15: France: Department store used most often, satisfaction with various criteria, March 2016
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- Figure 16: France: Galeries Lafayette and all other stores, satisfaction with various criteria, March 2016
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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 17: Galeries Lafayette (Group): Group sales performance, 2010-15
- Figure 18: Galeries Lafayette: Outlet data, 2010-15
- 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
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- Figure 19: LVMH Selective Retail, financial performance, 2011-15
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- Figure 20: Le Bon Marché: Estimated sales performance, 2011-15
- Figure 21: Le Bon Marché: Outlet data, 2011-15
- 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
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- Figure 22: Printemps: Estimated group financial performance, 2011-15
- Figure 23: Printemps: Outlet data, 2011-15
- Retail offering
Appendix – Data Sources, Abbreviations and Supporting Information
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- Abbreviations
- Data sources
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