Electrical Goods Retailing - France - February 2013

EXECUTIVE SUMMARY
What we think
REPORT SCOPE AND TECHNICAL NOTES
Coverage
Definitions
Retail sector sales
Consumer spending
Abbreviations
Technical notes
Financial definitions
Currencies
Country codes
Figure 1: Country codes
VAT
Figure 2: Europe: Standard VAT rates, 2010-13
SPENDING, UNIT SALES AND INFLATION
Key points
Consumer spending and unit sales
Figure 3: France: Consumer spending, incl. VAT, 2008-12
Figure 4: France: Unit volume sales by electrical goods category, 2011-13
Figure 5: Market definitions for unit volume sales data
Inflation
Figure 6: France: Harmonised indices of consumer prices: annual % change, Jan 2011-Dec 2012
CHANNELS OF DISTRIBUTION
Figure 7: France: Estimated distribution of spending on electrical/electronic goods, 2012
SECTOR SIZE AND FORECAST
Key points
Specialists’ sales and forecasts
Figure 8: France: Retail sales, excl. VAT, 2008-12
Figure 9: France: Retail sales forecasts (excl. VAT), 2013-18
Figure 10: France: Electrical goods specialists’ sales represented as percentage of consumer spending on electrical goods, 2008-12
ENTERPRISE AND EMPLOYEE NUMBERS
Figure 11: France: Retail enterprise numbers, 2009-10
Figure 12: France: Retail employee numbers, full-time equivalent units, 2009-10
THE RETAILERS: FINANCIALS AND OUTLETS
Key points
Leading retailers
Figure 13: France: Leading electrical goods specialists’ revenues, 2010-12
Figure 14: France: Leading electrical goods specialists’ outlet numbers, 2010-12
Figure 15: France: Leading electrical goods specialists’ annual sales per outlet, 2010-12
THE RETAILERS: MARKET SHARES
Figure 16: France: Leading electrical goods specialists’ market shares, 2010-12
ONLINE
Key points
The consumer: shopping online
Figure 17: France: Percentage of individuals who have purchased online in the last 12 months, 2008-12
Figure 18: France: Percentage of all individuals having purchased electricals online in the past 12 months, selected categories, 2011
Online retailers
Figure 19: France: Most popular retailers used for online purchases of electrical goods in the past 12 months, January 2013
THE CONSUMER: WHERE THEY SHOP
Key points
Where they shop
Figure 20: France: The consumer: Where they shop, whether online or in-store, in the last 12 months, January 2013
Figure 21: France: The consumer: Where they shop, online versus in-store, January 2013
Figure 22: France: The consumer: Where they shop, average age/socio-economic group, January 2013
BOULANGER (GROUP)
What we think
Pushing through growth to improve economies of scale
Differentiating through a focus on services
Company background
Company performance
Figure 23: Boulanger (group): Group financial performance, 2008-12 (e)
Figure 24: HTM Group/Boulanger: Outlet data, 2008-12
Retail offering
CONRAD
What we think
Strengthen the multi-channel offer
Facing intensifying competition from pureplay specialists
Company background
Company performance
Figure 25: Conrad: Estimated group sales performance, 2008-12
Figure 26: Conrad: Outlet data, 2008-2012
Retail offering
DARTY PLC
What we think
Slimming down – and more to come?
France is the focus
Company background
Company performance
Figure 27: Darty plc: Estimated contribution to segment revenues by country, 2011/12
Figure 28: Darty plc: Group financial performance, 2007/8-2012/13
Figure 29: Darty plc: Outlet data, 2008-13
Retail offering
E-SQUARE
What we think
Company background
Figure 30: E-Square: Members and websites by country of operation, 2013
Online
Figure 31: E-Square: Affiliated online stores, 2013
History
Company performance
Figure 32: E-Square: Estimated retail sales and approximate store numbers by country, 2011
EP
Figure 33: ElectronicPartner: Group financial performance, 2007-11
Figure 34: ElectronicPartner: Membership data, 2007-11
Figure 35: ElectronicPartner: Estimates of Affiliated branded stores and membership, by country, 2011
Spain
France
Italy
Germany
Ukraine
UK
Portugal
Greece
Finland
Sweden
Denmark
Retail offering
EP
MEDIMAX
EURONICS INTERNATIONAL
What we think
Company background
Figure 36: Euronics: Members, countries and trading names, 2013
Online
Company performance
Figure 37: Euronics: International sales, 2001-12
Figure 38: Euronics: Estimated sales ex-warehouse, inc VAT, by country, 2008-12
Figure 39: Euronics: Outlet data, 2008-12
Retail offering
EXPERT INTERNATIONAL (EUROPE)
What we think
Company background
Online
Figure 40: Expert International, online shopping availability, 2013
Company performance
Figure 41: Expert: Estimated group retail sales performance, 2009-12
Figure 42: Expert: Outlet data, 2009-12
Expert Germany
Expert Italy
Expert Spain
Expert France
Expert Norway (Expert AS)
Expert Greece
Retail offering
FNAC
What we think
Worsening conditions for Fnac in Europe
Technological change
Creating destination stores to maintain footfall
Demerger
Company background
Company performance
Figure 43: Fnac: Group financial performance, 2008-12
Figure 44: Fnac: Sales, by product category, 2011
Figure 45: Fnac: Outlet data, 2008-12*
Retail offering
MEDIA-SATURN
What we think
Management
Online
Development
Where next?
Company background
Ownership
Store manager stakes
Company performance
Figure 46: Media Saturn: Group financial performance, 2007-12
Figure 47: Media Saturn: Outlet data, 2007-12
Retail offering
APPENDIX – BROADER MARKET ENVIRONMENT
Population
Figure 48: Europe: Population, by age group, 2005
Figure 49: Europe: Population, by age group, 2010
Figure 50: Europe: Population, by age group, 2015
Figure 51: Europe: Population, by age group, 2020
GDP
Figure 52: Europe: GDP (current prices), 2011
Figure 53: Europe: GDP growth rates (current prices), 2001-11
Figure 54: Europe: GDP growth rates (constant prices), 2001-11
Figure 55: Europe: Year-on-year GDP growth rates (constant prices), Q1 2012-Q3 2012
Consumer spending
Figure 56: Europe: Households’ consumer spending (current prices), 2011
Figure 57: Europe: Households’ consumer spending growth rates (current prices), 2001-11
Consumer prices
Figure 58: Europe: Harmonised index of consumer prices, 2002-12
Unemployment
Figure 59: Europe: Average rate of unemployment, 2001-11
Figure 60: Europe: Average rate of unemployment, Q1 2012-Q3 2012
Interest rates
Figure 61: Europe: Interest rates, 2005-Q4 2012
Consumer confidence
Figure 62: Europe: Consumer confidence, Jan-Dec 2012