Table of Contents
Overview
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- What you need to know
- Areas covered in this report
Executive Summary
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- The market
- Spending and inflation
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- Figure 1: Spain: consumer price inflation, annual % change, 2010-16
- Channels of distribution
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- Figure 2: Spain: estimated distribution of spending on electricals goods, 2016
- Sector size and forecast
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- Figure 3: Spain: annual % change in all retail sales (excl. fuel) and electrical goods specialists’ retail sales, 2011-16
- Leading players
- Key metrics
- Market shares
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- Figure 4: Spain: leading specialist electrical retailers: estimated shares of spending on electricals items, 2016
- Online
- The consumer
- What electricals they buy
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- Figure 5: Spain: types of electrical products purchased, January 2017
- Where they shop for electricals
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- Figure 6: Spain: where they shop for electricals, whether online or in-store, January 2017
- Online vs offline
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- Figure 7: Spain: how they shop for electricals, in-store vs online, January 2017
- What we think
Issues and Insights
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- High levels of promotional activity eroding sales growth
- The facts
- The implications
- Specialists need to boost appeal in competitive market
- The facts
- The implications
The Market – What You Need to Know
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- Consumer spending on electricals rose 8.9% in 2015
- Deflationary prices continued into 2016
- Mobile phones dominate volume sales
- Channels of distribution
- Specialists’ retail sales forecast to be flat in 2017
Spending and Inflation
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- Economy recovering
- Consumer spending
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- Figure 8: Spain: consumer spending on electrical items (incl. VAT), 2012-16
- Inflation
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- Figure 9: Spain: consumer prices, annual % change, 2012-16
- Figure 10: Spain: consumer price inflation on electrical items, annual % change, July 2015-December 2016
Product Market Breakdown
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- Figure 11: Spain: main electricals markets, volume sales, 2012-16
- Figure 12: Spain: main electricals markets, volume sales forecasts, 2016-20
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Channels of Distribution
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- Specialists dominate, but losing share
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- Figure 13: Spain: estimated distribution of spending on electrical goods, 2014-16
Sector Size and Forecast
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- Electricals specialists growth set to slow
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- Figure 14: Spain: electricals specialists’ sales, excl VAT, 2011-16
- Figure 15: Spain: electricals specialists’ sales, forecasts, excl VAT, 2016-21
Leading Players – What You Need to Know
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- Media Markt achieves 4.7% sales growth in 2016
- Worten also continuing to grow
- Most specialists losing market share
- Online electrical retail sales reach €1.8 billion in 2015
Leading Players
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- Media Markt growth continues
- Worten expanding store network
- Fnac struggles in discount-driven market
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- Figure 16: Spain: leading specialist electrical retailers, sales, 2012-16
- Figure 17: Spain: leading specialist electrical retailers, outlets, 2012-16
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- Figure 18: Spain: leading specialist electrical retailers, estimated sales per outlet, 2012-16
Market Shares
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- Figure 19: Spain: leading specialist electrical retailers, shares of spending on electricals items, 2014-16
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Online
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- Online activity and device usage
- Shopping online
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- Figure 20: Spain: online buyers in last 12 months, by country, 2007-16
- Figure 21: Spain: online buyers of electrical items in last 12 months, 2007-16
- Online retail sales
- Electricals shopping: in-store vs online
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- Figure 22: Spain: how they shop for electrical products, in-store vs online, January 2016
- Leading online players
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- Figure 23: Spain: where they shop for electrical products online, January 2017
The Consumer – What You Need to Know
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- Three quarters of people bought electricals in 2016
- In-store continues to be the primary channel
- Almost half shop at Media Markt
- Lower prices draw people to online shopping
- In-store advice continues to be important
What Electricals They Buy
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- Almost half shop for mobile phones and tablets
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- Figure 24: Spain: types of electrical products purchased, January 2017
- Men continue to drive purchasing
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- Figure 25: Spain: types of electrical products purchased, by gender, January 2017
- Young people more tech-focused
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- Figure 26: Spain: types of electrical products purchased, by age, January 2017
- Technology ownership
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- Figure 27: Spain: technology products personally owned, Q1 2016
How They Shop for Electricals – Online vs In-Store
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- In-store vs online shopping
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- Figure 28: Spain: how they shop for electricals, in-store vs online, January 2017
- Men more likely to shop online
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- Figure 29: Spain: how they shop for electricals, in-store vs online, by gender, January 2017
- Online purchasing peaks amongst older Millennials
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- Figure 30: Spain: how they shop for electricals, in-store vs online, by age, January 2017
- Cameras and video cameras more likely to be bought online
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- Figure 31: Spain: how they shop for electricals, in-store vs online, by product purchased, January 2017
Where They Shop for Electricals and Why
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- Media Markt is the most used retailer
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- Figure 32: Spain: where they shop for electricals, whether in-store or online, January 2017
- Fnac online offer popular
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- Figure 33: Spain: where consumers shop for electricals, by channel, January 2017
- Apple attracts young and affluent shoppers
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- Figure 34: Spain: profile of those who bought either in-store or online, by retailer used, January 2017
- Prices are perceived as lower online
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- Figure 35: Spain: reasons for shopping for electricals online, January 2017
- Leading retailers attract shoppers with broad online assortment
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- Figure 36: Spain: reasons for shopping for electricals online, by retailer used: Media Markt, January 2017
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- Figure 37: Spain: reasons for shopping for electricals online, by retailer used: Amazon, January 2017
- In-store experience is important
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- Figure 38: Spain: reasons for shopping for electricals in-store, January 2017
- Department stores’ in-store customer service stands out
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- Figure 39: Spain: reasons for shopping for electricals in-store, by retailer used, January 2017
Appendix – Data Sources, Abbreviations and Supporting Information
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- Abbreviations
- Data sources
Amazon.com
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- What we think
- Marketplace is growing
- Disruptive influence
- Does Amazon need stores?
- Maturity beckoning?
- Where next?
- Company background
- Company performance
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- Figure 40: Amazon.com Inc.: group financial performance, 2011/12-2015/16
- Electricals sales
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- Figure 41: Amazon: estimated electricals sales in Europe, 2015-16
- Marketplace
- Retail offering
Apple Retail
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- What we think
- Over-reliance on the iPhone?
- A price rise too far?
- All about the image
- Company background
- Company performance
- Worldwide
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- Figure 42: Apple Inc.: sales and operating profit, 2012-16
- Apple Retail UK
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- Figure 43: Apple Retail UK: group financial performance, 2011/12-2015/16
- Figure 44: Apple Retail UK: outlet data, 2011/12-2015/16
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- Figure 45: Apple Retail: European stores, 2014-17
- Retail offering
Dixons Carphone
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- What we think
- Betting the house on connectivity
- Company plans to ‘redefine retail’ with pay-monthly membership scheme
- Cutting price out of the equation
- What next?
- Company background
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- Figure 46: Dixons Carphone: retail brands, by country, 2017
- Company performance
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- Figure 47: Dixons Carphone: group financial performance, 2013/14-2015/16
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- Figure 48: Dixons Carphone: outlet data, 2013/14-2015/16
- Figure 49: Dixons Carphone: store portfolio, 2015-16
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- Figure 50: Dixons Carphone: planned store closures, 2016/17
- Retail offering
E-Square
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- What it does
- Company background
- Key figures
- Members
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- Figure 51: E-Square membership, 2016
- Sales
Euronics International
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- What we think
- Bringing its members new and innovative products
- Brand communication
- Bolstering multi-channel proposition
- Services add value to physical stores
- Company background
- Company performance
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- Figure 52: Euronics International: group sales performance, 2011-15
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- Figure 53: Euronics International: estimated outlet data, 2011-15
- Retail offering
Expert Europe
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- What we think
- National network, local availability
- Strength in common branding is being eroded
- Increased focus on brand and product expertise and service…
- …and online presence
- Where now?
- Company background
- Company performance
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- Figure 54: Expert Europe: group sales performance, 2012-16
- Figure 55: Expert Europe: outlet data, 2012-16
- Retail offering
Fnac Darty Group
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- What we think
- Enlarged product offering to better compete with the likes of Amazon
- Enhanced multichannel offering
- Increased bargaining power to offer more competitive prices
- Shortcuts to aid electrical product consumers decision-making process
- Company background
- Company performance
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- Figure 56: Fnac Darty: financial performance, pro forma, Q3 2016 and 1st nine months 2016
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- Figure 57: Fnac Darty: store network, pro forma, 2015-16
- Retail offering
Media-Saturn
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- What we think
- Looking for opportunities in rentals
- The important of the connected home
- Services potential
- Digital stores
- Being proactive with innovation
- Redcoon brought pureplay online expertise
- Where now?
- Company background
- Company performance
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- Figure 58: Media Markt/Saturn: group financial performance, 2011/12-2015/16
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- Figure 59: Media Markt/Saturn: outlet data, 2011/12-2015/16
- Retail offering
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