Table of Contents
Executive Summary
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- The market
- Consumer spending
- Sector size and forecast
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- Figure 1: France: department stores, estimated sector sales (excl VAT), 2013-17
- Companies and brands
- Key metrics
- Market shares
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- Figure 2: France: leading department store retailers’ shares of mixed goods retailers’ sales, 2017
- Online
- The consumer
- Where they shop
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- Figure 3: France: department stores shopped at in the last 12 months, March 2018
- Attitudes to department stores
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- Figure 4: France: attitudes to department stores, March 2018
- What we think
Issues and Insights
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- Solutions for provincial stores
- The facts
- The implications
- The implications of Galeries Lafayette’s acquisition of La Redoute
- The facts
- The implications
The Market – What You Need to Know
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- Economy picking up after prolonged period of subdued growth
- Department store spending areas show low growth in recent years
- Department stores’ share of beauty and clothing less than in Germany and the UK
- 2016 a bad year for department stores, but growth returned in 2017
Consumer Spending
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- Signs of growth in the French economy
- Weak spending growth in key department store categories
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- Figure 5: France: consumer spending on key department store product categories (incl. VAT), 2013-17
- Department stores’ share of clothing and beauty markets
- Clothing
- Beauty
Sector Size and Forecast
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- Total retail sales recovering, further growth forecast in 2017
- Department store sector size
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- Figure 6: France: department stores, estimated sector sales (excl VAT), 2013-17
- Mixed goods retailers sector
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- Figure 7: France: mixed goods retailers, sales (excl. VAT), 2013-17
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- Figure 8: France: mixed goods retailers, forecast sales (excl. VAT), 2018-22
Companies and Brands – What You Need to Know
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- The big two locked in rivalry
- Sunday trading compensates for downturn in tourism
- Luxury food
- Combined market share is down
- Online increasingly important
Leading Players
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- Intense rivalry between Galeries Lafayette and Printemps
- Heavy impact of downturn in tourism
- Lagging online
- Sunday trading a major boost – time is money
- Luxury food
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- Figure 9: France: leading department store retailers, sales, 2013-17
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- Figure 10: France: leading department store retailers, outlets, 2013-17
- Figure 11: France: leading department store retailers, sales per outlet, 2013-17
Market Shares
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- Figure 12: France: leading department store retailers’ shares of mixed goods retailers’ sales, 2013-17
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Online
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- Online activity
- France between Germany/UK and Spain/Italy
- Broadband penetration lower
- Technology ownership is lower
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- Figure 13: France: ways in which the internet was accessed in the last three months, by age, Q3 2017
- Shopping online
- Luxury shopping online
- Leading online players
The Consumer – What You Need to Know
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- Only a quarter shop at department stores
- Galeries Lafayette leads
- Core customers are younger and wealthier
- Online shopping
- Stores are inspirational and enjoyable places to visit
- But perceptions of price are high
Where they Shop
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- Only a quarter shop at department stores
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- Figure 14: France: department stores shopped at in the last 12 months, March 2018
- But 40% of residents in the Paris region shop there
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- Figure 15: France: usage of department stores in the last 12 months by region, March 2018
- The younger and wealthier are the core customers
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- Figure 16: France: usage of department stores in the last 12 months, by age and affluence, March 2018
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- Figure 17: France: usage of department stores in the last 12 months, by age and gender, March 2018
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- Figure 18: France: usage of department stores in the last 12 months, by generation group, March 2018
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- Figure 19: France: department stores shopped at in the last 12 months, by age and income, March 2018
- Online shopping at department stores
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- Figure 20: France: online shopping at department stores in the last 12 months, by age and gender, March 2018
Attitudes to Department Stores
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- Stores are inspirational
- But perceptions of price are high
- In-store services appeal
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- Figure 21: France: attitudes to department stores, March 2018
- Parisian residents focus less on price and more on experience
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- Figure 22: France: attitudes to department stores, Ile-de-France vs total, March 2018
Appendix – Data Sources, Abbreviations and Supporting Information
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- Abbreviations
- Data sources
Galeries Lafayette
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- What we think
- A new strategy, a new structure
- Online/omnichannel
- New stores and new store formats
- Regional stores becoming franchises
- International expansion
- Company background
- Company performance
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- Figure 23: Galeries Lafayette department stores: sales performance, 2013-17
- France
- International
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- Figure 24: Galeries Lafayette (France): outlet data, 2013-17
- Retail offering
Le Bon Marché
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- What we think
- The new food hall
- Company background
- Company performance
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- Figure 25: LVMH Selective Retail: financial performance, 2013-17
- Figure 26: Le Bon Marché: sales performance, 2013-17
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- Figure 27: Le Bon Marché: outlet data, 2013-17
- Retail offering
Printemps
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- What we think
- Menswear department augurs well for growth
- Sunday trading
- Lagging behind online
- Printemps du Goût – the battle of fine foods
- Company background
- Company performance
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- Figure 28: Printemps Department stores: group financial performance, 2013/14-2017/18
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- Figure 29: Printemps Department stores: outlet data, 2013/14-2017/18
- Retail offering
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