E-Commerce - Italy - July 2013

REPORT SCOPE AND TECHNICAL NOTES
Market definition
Financial definitions
VAT
Figure 1: European VAT rates, 2010-13
Abbreviations/terminology
Country codes
EXECUTIVE SUMMARY
What we think
THE MARKET ENVIRONMENT
Key points
Broadband connections
Figure 2: Italy: Percentage of all households having a broadband internet connection, total and by selected household type, 2012
Shopping and selling by device
Figure 3: Italy: The consumer: Percentage of consumers shopping or selling online in past three months, by device, May 2013
Consumer confidence
Figure 4: Italy: Consumer confidence levels, June 2012-May 2013
MARKET SIZE AND FORECAST
Key points
Retail generally remains underdeveloped
Online sales just over 1% of all retail sales
Growth prospects
Figure 5: Italy: Online retail sales (incl. VAT), 2008-12
Figure 6: Italy: Online retail sales forecasts (incl. VAT), 2013-18
Segmentation by product category
Home shopping specialists’ sales and forecast
Figure 7: Italy: Mail order/online pureplay specialists’ sales (incl. VAT), 2008-12
Figure 8: Italy: Mail order/online pureplay specialists’ sales forecasts (incl. VAT), 2013-18
LEADING ONLINE RETAILERS
Key points
Multi-channel in its infancy
Amazon leads the market
Media World
Banzai Commerce
Figure 9: Italy: Major online retailers by net online revenues, 2012
Fashion
Books/multi-media
Electricals
Grocery
Private sales clubs
Other multi-sector retailers
Health and beauty
DIY
 MARKET SHARES
Figure 10: Italy: Leading online retailers’ share of online retail sales, 2012
THE CONSUMER: PARTICIPATION IN ONLINE SHOPPING
Key points
Growth in participation slows
Figure 11: Italy: Percentage of all individuals having ordered goods or services online, 2008-12
Figure 12: Europe: Percentage of all individuals having ordered goods or services online in the past three months, selected countries, 2012
By category: Clothing most popular
Figure 13: Italy: Percentage of all individuals having ordered goods online in the past 12 months, by category, 2008-12
Cross-border shopping
Figure 14: Italy: The consumer: Percentage of all individuals having ordered goods or services online, by location of seller, 2011 and 2012
THE CONSUMER: E-COMMERCE AND HOME SHOPPING
Key points
What we asked
Home shopping generally not widespread
Figure 15: Italy: The consumer: How they shopped from home in the last 12 months, May 2013
Online shopping broadly based by age, affluence and gender
Figure 16: Italy: The consumer: How they shopped from home in the last 12 months, by average age/affluence, May 2013
Figure 17: Italy: The consumer: How they shopped from home in the last 12 months, by gender, May 2013
THE CONSUMER: M-COMMERCE AND T-COMMERCE
Key points
What we asked
Clothing most popular
Figure 18: Italy: The consumer: What they bought online (from a smartphone or tablet away from home) in the last 12 months, May 2013
Mobile shoppers are younger and more affluent
Figure 19: Italy: The consumer: What they bought online (from a smartphone or tablet away from home) in the last 12 months, May 2013
Figure 20: Italy: The consumer: What they bought online (from a smartphone or tablet away from home) in the last 12 months, May 2013
THE CONSUMER: ATTITUDES TO SHOPPING ONLINE
Key points
What we asked
Price and discounts drive online demand
Figure 21: Italy: Online shopping habits and attitudes, May 2013
Customer reviews and opinion of others appeals to young and affluent
Figure 22: Italy: Online shopping habits and attitudes, by average age/affluence, May 2013
Figure 23: Italy: Online shopping habits and attitudes, by average age/affluence, by gender, May 2013
AMAZON EUROPE
What we think
Troubles in Europe
Amazon’s scope for growth
But can it become Europe’s largest retailer?
Figure 24: Amazon Europe: Projected revenues of Amazon Europe and Schwarz Group, 2008-22
Beyond retailing
Slimming the offer
Popularity for electricals shopping – Mintel’s consumer data
Figure 25: Europe: Percentage of consumers who have purchased electrical goods from Amazon in the past 12 months (past three years for the UK survey) and (in brackets) Amazon’s position among named retailers for buying electrical goods online, January 2013 (November 2012 for UK survey)
Company background
Company performance
Figure 26: Amazon Europe: Group financial performance, 2008-12
Figure 27: Amazon Europe: Europe as percentage of Amazon Inc.’s total revenues, 2008-12
Retail offering
APPLE RETAIL
What we think
A brand or a retailer
Company background
Company performance
Figure 28: Apple Retail: Financial performance, 2007/08-2011/12
Figure 29: Apple Retail: European stores, 2012-13
Retail offering
ASOS
What we think
Positioning itself as the world’s leading online fashion destination for twenty-somethings
One-stop fashion portal driving web traffic and extra sales
Decision to expand beyond UK is paying off
Tapping into the demand for affordable fashion in an austere climate
Company background
Company performance
Majority of ASOS sales now come from outside of the UK
Figure 30: ASOS: Group financial performance, 2008/09-2011/12
Current trading boosted by exclusive collaborations, growing mobile traffic and price reductions
Retail offering
DELL RETAIL
What we think
Move to third party
Looking to improve price positioning
Company background
Company performance
Figure 31: Dell B2C Retail: Estimated group financial performance, 2008-12
Retail offering
DIXONS RETAIL
What we think
Restructuring puts multi-channel model back on track
Integrating online to multi-channel
Currys PC World megastore takes specialist electrical retailing to a new level
Company background
Company performance
Online
Figure 32: Dixons retail: Online sales, 2012/13
Figure 33: Dixons Retail Plc: Group financial performance, 2008/09-2012/13
Figure 34: Dixons Retail Plc: Outlet data, 2008/09-2012/13
Retail offering
EBAY INC.
What we think
Not a retailer – and no longer an auction site
Positive attributes
Transacting revenues
Company background
Company performance
Figure 35: eBay Inc.: Group financial performance, 2008-12
eBay in graphs
Figure 36: eBay Inc. Marketplaces segment: Gross merchandise volume and number of active users, 2006-12
Figure 37: eBay Inc. Marketplaces segment: Annual % change in gross merchandise volume and number of active users, 2006-12
Figure 38: eBay Inc. Marketplaces segment: % of gross merchandise volume accounted for by fixed-price sales, 2006-12
Figure 39: eBay Inc. Payments segment: Total net payment values, 2006-12
FNAC
What we think
Difficult times
Downloads erode business
Needs to play the multi-channel card
Company background
Company performance
Figure 40: Fnac: Group financial performance, 2008-12
Figure 41: Fnac: Outlet numbers, 2008-12
Retail offering
MEDIA-SATURN/REDCOON (METRO GROUP)
What we think
Slow to launch online
Trailing Amazon but winning customers
Figure 42: Germany: The consumer: Where electrical goods have been purchased online in the past 12 months, leading retailers, January 2013
Pureplay versus multichannel
International
Company background
Technical note: Ownership
Technical note: Store manager stakes
Company performance
Figure 43: Media Saturn: Group financial performance, 2008-12
Figure 44: Media Markt/Saturn: Outlet data, 2008-12
Retail offering
OTTO GROUP (MULTICHANNEL RETAIL)
What we think
Falling behind Amazon
Failing to take advantage of the web
Failing to compete on price
Catalogue brands need more focus
Company background
Company performance
Figure 45: Otto Group (Multichannel Retail): Group financial performance, 2008/09-2012/13
Retail offering
Figure 46: Otto Group: Main European Brands, June 2013
VENTE PRIVEE
What we think
Company background
Company performance
Figure 47: Vente-Privee: Group sales performance, 2008-12
Retail offering
YOOX
What we think
Company background
Company performance
Figure 48: Yoox Group: Sales performance (excl. sales tax), 2008-12
Figure 49: Yoox Group: Breakdown of turnover, by major market, 2012
Retail offering
Figure 50: Yoox Group: Mono-brand sites, 2012
ZOOPLUS
What we think
Company background
Company performance
Figure 51: Zooplus: Financial performance, 2008-12
Retail offering
APPENDIX – E-COMMERCE RETAIL
Figure 52: Most popular how they shopped from home in the last 12 months, by demographics, Italy, May 2013
Figure 53: Next most popular how they shopped from home in the last 12 months, by demographics, Italy, May 2013
Figure 54: Most popular what they bought online (from a smartphone or tablet away from home) in the last 12 months, by demographics, Italy, May 2013
Figure 55: Next most popular what they bought online (from a smartphone or tablet away from home) in the last 12 months, by demographics, Italy, May 2013
Figure 56: Other what they bought online (from a smartphone or tablet away from home) in the last 12 months, by demographics, Italy, May 2013
Figure 57: Most popular online shopping habits and attitudes, by demographics, Italy, May 2013
Figure 58: Next most popular online shopping habits and attitudes, by demographics, Italy, May 2013
APPENDIX – BROADER MARKET ENVIRONMENT
Broadband connection and internet usage
Figure 59: Europe: Percentage of households with a broadband internet connection, by country, 2008-12
Figure 60: Europe: Percentage of all individuals accessing the internet daily, by country, 2008-12
Figure 61: Europe: Percentage of all individuals accessing the internet by mobile devices in the past three months, by country, 2012
Population
Figure 62: Europe: Population, by age group, 2010
Figure 63: Europe: Population, by age group, 2015
Figure 64: Europe: Population, by age group, 2020
GDP
Figure 65: Europe: GDP (current prices), 2012
Figure 66: Europe: Real-terms year-on-year growth in GDP, 2003-13
Consumer spending
Figure 67: Europe: Households’ consumer spending (current prices), 2012
Figure 68: Europe: Real-terms year-on-year growth in households’ consumer spending, 2003-12
Consumer prices
Figure 69: Europe: Harmonised index of consumer prices, annual % change, 2003-12
Unemployment
Figure 70: Europe: Average rate of unemployment, 2003-12
Interest rates
Figure 71: Europe: Central bank interest rates, 2008-13
Consumer confidence
Figure 72: Europe: Consumer confidence levels, July 2012-June 2013