Description
The global market for luxury goods declined in value by 13% in 2020 based on reported sales, due to lockdowns and other restrictions affecting consumers’ ability to make purchases. This rate of decline would have been even greater, were it not for the fact that the region which accounts for the largest proportion of sales, Asia-Pacific, was the quickest to recover from the initial impact of the COVID-19 outbreak.
Key issues covered:
- Analyst Comment – the positives from the luxury goods sector despite Covid-19
- An overview of the latest European Retail sales
- Highlights of the latest Retail trend observations across Europe.
- Monthly headlines and retail news across Europe
Table of Contents
-
Analyst Comment – Plenty of Positives for Luxury Goods Despite the COVID-19 hit
-
European Retail Sales
- Key points
- Retail sales
- Figure 1: Major European economies: Year-on-year retail sales value growth, 2019-21
- Figure 2: Major European economies: Year-on-year retail sales volume growth, 2019-21
- Inflation
- Figure 3: Major European economies: All items CPI, 2019-21
- Figure 4: Major European economies: Food price inflation, 2019-21
-
Launch Activity and Innovations
- Poland: Zabka launches new parcel service
- France: Groupe Casino ‘rethinks’ its Monop concept to respond to changing consumer habits
- Germany: Online electronic retailer Coolblue to open first store in Germany
-
Headlines for the Month
- Grocers
- Clothing retailing
- Department stores
- DIY retailing
- Electrical retailing
- Online
- Sports and leisure goods retailing
-
News Analysis – Food and Drink
- Co-ops
- UK: Central England Co-op launch one-hour delivery services to 100 stores
- Grocers
- France: Carrefour
- …hypermarkets sales up 4.3% in Q2
- …to open 30 Supeco stores in 2021
- …invests in express delivery start-up Cajoo
- Germany: Kaufland launches new online campaign targeting younger shoppers
- Italy: Carrefour rolls out Shop & Charge initiative for Fiat 500 owners
- Italy: Conad Adriatico earmarks €170.5 million of investment for new store openings
- Italy: Esselunga pledges to plant three million trees by 2030
- Italy: Maiora turnover grows 14% compared to pre-pandemic levels
- Sweden: ICA sales up 3.6% in July driven by convenience format
- UK: Aldi
- …donate 1 million meals to charities over summer holidays
- …trial fully recyclable packaging for its sandwiches
- UK: Iceland recruits 2,000 staff due to shortages
- UK: Leading supermarkets warn of trade disruptions in Northern Ireland due to Brexit protocol
- UK: Lidl
- …pledge to increase sales for healthy products
- …roll out self-scan app ‘Lidl Go’
- UK: Morrisons
- …Fortress ups bid to £6.7 billion for Morrisons
- …Morrisons expect counter bid from US private equity firm CD&R
- …pilot checkout-less store technology at Bradford HQ
- Other food and drink specialists
- UK: Hotel Chocolat sales up 21% as it renegotiates rent for its UK stores
-
News Analysis – Clothing and Footwear
- Clothing retailing
- Finland: Stockmann revenues up 21.4%
- France: Kering sales up 48.9% despite lockdowns
- France: LVMH sales up 14% following strong demand in all of its markets
- Germany: Hugo Boss expects group sales to grow 35% following the end to lockdown restrictions
- Italy: Prada sees revenues grow 60% thanks to stores reopening
- Netherlands: WE Fashion revenues down 28.7% due to store closures during the year
- Spain: Mango expects sales for 2020 to excess pre-COVID levels
- UK: Arcadia Group companies to be liquidated
- UK: Burberry sees comparable store sales rebound in Q1
- UK: Forever New opens first UK store
- UK: Joules sales up 4.3% as growth from online offset store closures
- UK: LK Bennett to roll out rental service
- UK: Mamas & Papas to double overseas sales next year as it unveils expansion plans
- UK: Matalan latest retailer to join government Kickstart scheme for young people
- UK: Mulberry sales up 4% thanks to digital performance
- UK: New Look revenues down 40.1% due to store closures
- UK: Next ups profit guidance as sales grow 18.6%
- UK: Philipp Plein to accept payment in cryptocurrency
- UK: Quiz quarterly sales jump 311.9% thanks to easing of lockdown restrictions
- UK: Sweaty Betty bought by US-based investor firm for £300m
- UK: The Restory to offer repairs for clothing
- UK: Victoria’s Secret set to trade separately from L Brands from August 2021
- Footwear retailing
- UK: Dr Martens sales up 52% following ‘encouraging’ recovery from reopened stores
- UK: Skechers sales up 127.3% as consumers returned to a ‘more normal lifestyle’
-
News Analysis – Mixed Goods
- Multi-sector retailing
- Germany: Penny donates €1.35 million for communities affected by flooding
- UK: Marks & Spencer
- …introduce same-day delivery for fashion purchases
- …launches first-ever children’s book on sustainability
- …warns Northern Ireland could see higher prices
- UK: Mike Ashley to step down from Frasers Group as profits fall 95.1%
- UK: Mothercare losses widen to £21.5 million due to temporary store closures
- UK: Poundland
- …Q3 l-f-l up 21% as it opens 22 new stores
- …launches frozen and chilled ranges to 40 more stores
- …Pepco to create 13,000 jobs in Europe over the next three years
- Department stores
- Spain: El Corte Inglés sees sales grow 50.2% despite travel bans
- UK: Harrods reveals new beauty and salon offering
- UK: Harvey Nichols partners with technology firm Reflaunt for resale service
- UK: John Lewis Partnership to cut 1,000 jobs
- UK: Liberty London impacted by lockdowns
- UK: Selfridges
- …to sell pre-loved bridal wear at wedding pop-up
- …auction begins with bids expecting to reach £4bn
- …celebrates Birmingham’s diverse community with new store facade
-
News Analysis – Household Goods
- DIY retailing
- France: Mr Bricolage sees sales grow 27.3% in the first half of 2021
- Germany: Retailers show support for areas affected by floods
- UK: Homebase to create 300 new jobs for young people
- Electrical retailing
- France: Fnac Darty grows sales by 21.6% and ups its 2021 forecast
- Germany: Ceconomy sees turnover increase 7.3% driven by TVs and house appliances
- Furniture retailing
- UK: Dreams reveals new concept for Feather & Black
- Music and video goods retailing
- UK: HMV to open 10 new stores
- Homewares retailing
- UK: Dunelm sees sales rise 26% thanks to homewares
-
News Analysis – Online
- France: Rakuten rewards second-hand purchases to its loyalty members
- Germany: HelloFresh
- …launches new online Market for US shoppers
- …to buy Australian ready-made meal supplier YouFoodz
- Germany: Zalando sees revenue grow 34% in Q2
- Sweden: Klarna acquires online start-up Hero
- UK: Amazon rival Imagr opens automated pop-up store
- UK: Asos
- …sales up 21% driven by UK
- …and Nordstrom team up for joint venture
- UK: Bloom & Wild acquires French Bergamotte
- UK: Eve Sleep revenues grow 13% thanks to rise in online shopping
- UK: Hurr partners with Depop ‘to power the circular economy’ with pre-rented collection
- UK: In The Style revenues soar 132%
- UK: Moonpig revenue grows 113% following its stock market debut
- UK: Music Magpie hails ‘landmark period’ as sales grow 3.8%
- UK: Net-A-Porter and Mr Porter launch new collection with Watchfinder
- UK: Sephora agrees to buy Feelunique for £132 million
- UK: The Hut group acquires Cult Beauty for £275m
- UK: The Very Group moves clothing returns to its automated fulfilment centre
-
News Analysis – Other Retail
- Health and beauty retailing
- France: Bogart Group sees sales recover in Q2 as stores reopen
- UK: Coty set to relaunch Kylie Cosmetics and reveals UK retail partners
- UK: Superdrug sales drop 15% despite remaining open during pandemic
- UK: The Fragrance Shop targets 20 new stores a year
- Sports and leisure goods retailing
- Germany: Adidas ups outlook as sales grow 52% in Q2
- Jewellers
- UK: Watches of Switzerland hails strong growth as sales increase 101.9%
- Toys and games retailing
- UK: Games Workshop revenues rise 31% thanks to online sales
- UK: Hamleys opens first standalone store in Edinburgh
- UK: Hobbycraft l-f-l grow 15.3% as it plans more store openings
- Pets and pet products retailing
- UK: Pets at Home
- …reports a strong start to its latest financial year
- …pilots recycling scheme
- Shopping centres
- UK: Tik Tok opens pop-up at Westfield London
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