Table of Contents
Executive Summary
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- The market
- Consumer spending
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- Figure 1: Italy: Annual percentage change in consumer spending on clothing and footwear, 2014-19
- Sector size and forecast
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- Figure 2: Italy: Specialist clothing retailers’ sales (excl. VAT), 2014-19
- Channels of distribution
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- Figure 3: Italy: Estimated distribution of spending on clothing and footwear by channel, 2019
- Companies and brands
- Leading players
- Market shares
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- Figure 4: Italy: Leading specialist clothing retailers’ sales as % all spending on clothing and footwear, 2018
- Online
- The consumer
- Where they shop for clothes
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- Figure 5: Italy: Channels used for buying clothes, June 2019
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- Figure 6: Italy: Retailers used for buying clothes in the last 12 months, June 2019
- Attitudes to shopping for clothes
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- Figure 7: Italy: Attitudes to shopping for clothes, June 2019
- What we think
Issues and Insights
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- Lines between stores and online are blurring but stores are still pivotal
- The facts
- The implications
- Sustainability rises up the agenda but will Italian shoppers pay more?
- The facts
- The implications
The Market – What You Need to Know
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- Spending on clothing grows in 2018
- Retailer confidence shows signs of recovery
- Specialist retailers reel under onslaught from online and weather
- Inflation returns after deflationary spiral is avoided
- Specialists gradually losing share but still dominant
Consumer Spending
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- Figure 8: Italy: Consumer spending on clothing and footwear (incl. VAT), 2014-19
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Retailer and Consumer Confidence
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- Figure 9: Italy: Consumer and retailer confidence levels, October 2018-September 2019
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Sector Size and Forecast
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- Figure 10: Italy: Specialist clothing retailers, sales (excl. VAT), 2014-19
- Figure 11: Italy: Specialist clothing retailers, forecast sales (excl. VAT), 2020-24
- Inflation
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- Figure 12: Italy: Consumer prices * of clothing and footwear, annual % change, 2014-18
- Figure 13: Italy: Consumer prices * of clothing and footwear, annual % change, January 2018 –August 2019
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Channels of Distribution
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- Specialists gradually losing share but still dominant
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- Figure 14: Italy: Estimated distribution of spending on clothing and footwear by channel, 2018
Companies and Brands – What You Need to Know
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- OVS maintains market leadership
- Inditex bucks the trend
- Calzedonia shifts focus to international markets
- H&M drops back
- OVS still leader but market share declines
- Italy online sales still underdeveloped
Leading Players
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- OVS maintains market leadership
- Inditex bucks the trend
- Calzedonia shifts focus to international markets
- H&M drops back
- Other players
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- Figure 15: Italy: Leading specialist clothing retailers, sales (excl. VAT), 2014-18
- Figure 16: Italy: Leading specialist clothing retailers, outlets, 2014-18
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- Figure 17: Italy: Leading clothing retailers, Sales per outlet, 2014-18
Market Shares
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- Figure 18: Italy: Leading specialist clothing retailers, sales as % all spending on clothing and footwear, 2014-18
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Online
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- Online activity
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- Figure 19: Italy: Household penetration of broadband internet, 2009-18
- Shopping for clothing online
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- Figure 20: Figure 19: Italy: Online purchasing in the last 12 months, 2009-18
- Online market size
- Leading online players
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- Figure 21: Italy Where people shopped for clothing online/by catalogue in the past 12 months, June 2019
- Bonprix
- Zalando
- Amazon
- Other players
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- Figure 22: Italy: Leading retailers’ estimated online sales of clothing, 2018
The Consumer – What You Need to Know
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- Shift towards buying online continues but in-store still dominant
- Just over half only buy in-store
- Specialists most popular retailer type but sports retailers also prominent
- OVS leads the way
- Customers value the experience when clothes shopping
- Not just about fast fashion
Where They Shop for Clothes
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- In-store vs online
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- Figure 23: Italy: Channels used for buying clothes, June 2019
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- Figure 24: Italy: Channels used for buying clothes, June 2019
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- Figure 25: Italy: Channels used for buying clothes, by age group, June 2019
- Retailers bought from
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- Figure 26: Italy: Retailers used for buying clothes in the last 12 months, June 2019
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- Figure 27: Italy: Comparison of retailers used for buying clothes in the last 12 months, by age group, June 2019
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- Figure 28: Italy: Customer profile by clothing specialist shopped at, by age and income, June 2019
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- Figure 29: Italy: Retailers used for buying clothes in the last 12 months, by clothes buyers who shop in-store only, June 2019
Attitudes to Shopping for Clothes
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- Experience is important
- Clothes offer opportunity for personal expression
- Not just about fast fashion
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- Figure 30: Italy: Attitudes to shopping for clothes, June 2019
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- Figure 31: Italy: Attitudes to shopping for clothes, by retailers bought at in the past 12 months, June 2019
Appendix – Data sources, Abbreviations and Supporting Information
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- Abbreviations
- Data sources
C&A
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- What we think
- Making up for lost time online
- Partnering with other brands
- Changes in management
- C&A continues to focus on sustainability
- Company background
- Company performance
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- Figure 32: C&A: Group financial performance, 2013/14 – 2018/19
- Figure 33: C&A: Outlet data, 2013/14 – 2018/19
- Retail offering
Grupo Inditex
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- What we think
- Growth from a combination of online and offline channels
- Diversification and dedicated content on social channels
- Inditex’s new strategy focuses on sustainability
- Company background
- Company performance
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- Figure 34: Grupo Inditex: sales and outlets by format, 2018/19
- Figure 35: Grupo Inditex, performance by brand, 2017-19
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- Figure 36: Grupo Inditex: group financial performance, 2013/14-2018/19
- Figure 37: Grupo Inditex: outlet data, 2013/14-2018/19
- Retail offering
H&M Hennes & Mauritz
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- What we think
- Digital
- Store development
- Company background
- Company performance
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- Figure 38: H&M Hennes & Mauritz: group financial performance, 2013/14-2017/18
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- Figure 39: H&M Hennes & Mauritz: outlet data, 2013/14-2017/18
- Retail offering
Kiabi
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- What we think
- Developing a dynamic in-store experience
- Expanded online reach and enhanced mobile shopping experience
- 100% eco-friendly fashion
- Company background
- Company performance
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- Figure 40: Kiabi: Estimated European financial performance, 2014-18
- Figure 41: Kiabi: Estimated European Outlet data, 2014-18
- Retail offering
OVS group
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- What we think
- Refurbished stores delivering increased like-for-like sales growth
- Accelerated store digitisation making the shopping experience quicker and more convenient
- More ways to buy Upim and Blukids
- Expanded product offering
- Shop-in-shop opportunities
- Eco-friendlier denim
- Company background
- Company performance
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- Figure 42: OVS group: Group financial performance, 2014-18
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- Figure 43: OVS group: Outlet performance, 2014-18
- Retail offering
YNAP group
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- What we think
- YNAP gives a much needed boost to Richemont’s online presence
- Increased co-operation with other brands in the Richemont family
- Customer service enhancements focus on personalisation
- Where now?
- Company background
- Company performance
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- Figure 44: YNAP group: Group financial performance, 2013/14-2018/19
- Retail offering
Zalando
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- What we think
- Selling more products, slower revenue growth
- Zalando continues to succeed by combining online and offline
- Zalando’s circular fashion joins the physical world
- Zalando expands beauty range to five new markets
- Average basket size is still decreasing
- Zalando Plus loyalty scheme expanded
- Zalando trials robots for customer orders
- Moving away from own brands
- What next?
- Company background
- Company performance
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- Figure 45: Zalando: group financial performance, 2013-18
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- Figure 46: Zalando: key metrics, 2016-H1 2019
- Retail offering
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