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Electrical Goods Retailing - Europe - February 2017

“The days when the electricals sector was seen as a boom area are long gone. White goods and most brown goods are now bought mostly on a replacement basis – there is too little product innovation to accelerate the process. Where there is development, as with curved TV screens or 3DTV it is of minority interest only. Even in information technology replacement cycles are lengthening and for the same reason. Electricals retailers are pinning their hopes on the connected home, but the scale of demand for such products remains to be seen. Amazon is growing fast as are other online pureplayers. Currys may be fighting back, and Fnac – Darty is poised to do so as well, but smaller independents are struggling and so the voluntary groups that support them are as well.”
– Richard Perks, Director of Retail Research

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Table of contents

  1. Overview

      • Technical notes
        • Market sizes – Consumer spending on electricals products
          • Figure 1: Electrical products, main classification codes, 2017
        • Market sizes - retail data
          • Leading retailers
            • Financial definitions
              • Abbreviations
                • VAT rates
                  • Figure 2: VAT rates around Europe, 2011-16
              • Executive Summary – Europe – The Market

                  • Figure 3: Europe: electricals market by product type, 2015
                • Spending on electrical goods
                  • Figure 4: Europe: spending on electrical items, 2011-15
                  • Figure 5: Europe: spending on electrical items, as % all consumer spending, 2015
                • Household appliances (White goods)
                  • Figure 6: Europe: spending on household appliances, 2011-15
                • Telephone equipment
                  • Figure 7: Europe: spending on telephone equipment, 2011-15
                • Audio-visual and computing (Brown and Grey goods)
                  • Figure 8: Europe: spending on audio visual and computing equipment, 2011-15
                • Sector size and forecast
                  • Household appliances retailers
                    • Figure 9: Europe: sales by specialist household appliances retailers, excl. VAT, 2011-16
                    • Figure 10: Europe: forecast sales by specialist household appliances retailers, excl. VAT, 2016-21
                  • IT and telecoms retailers
                    • Figure 11: Europe: sales by specialist IT and telecoms retailers, excl. VAT, 2011-16
                    • Figure 12: Europe: sales by specialist IT and telecoms retailers, excl. VAT, 2016-21
                  • Estimated pan-European electricals retailers’ sales
                    • Leading players
                      • Sales
                        • Figure 13: Europe: leading specialist electrical retailers, sales, 2013/14-2016/17
                      • Outlets
                        • Figure 14: Europe: leading specialist electrical retailers, outlets, 2013/14-2016/17
                      • Sales per outlet
                        • Figure 15: Europe: leading specialist electrical retailers, sales per outlet, 2013/14-2016/17
                      • Market shares of all spending
                        • Figure 16: Europe: leading specialist electrical retailers’ sales as % all spending on electrical goods, 2015-16
                      • Market shares based on specialist retailers’ sales
                        • Figure 17: Europe: leading specialist electrical retailers’ sales as % all electrical specialists sales, 2015-16
                      • What we think
                        • Amazon: a force to be reckoned with
                          • Who is losing share?
                            • Where next?
                            • Executive Summary – Europe – The Consumer

                                • How many people bought electrical goods?
                                  • Figure 18: Europe: buyers of electrical goods, November 2016 (UK), January 2017 (DE, ES, FR, IT)
                                • What electricals they buy
                                    • Figure 19: Europe: types of electrical products purchased, November 2016 (UK), January 2017 (DE, ES, FR, IT)
                                  • Online vs in-store
                                      • Figure 20: Europe: how they shop for electricals, in-store vs online, January 2017
                                    • Most-used retail outlets, online and in-store
                                      • Figure 21: Europe: most used retailer online for buying electricals, January 2017 (UK November 2016)
                                      • Figure 22: Europe: most used retailer in-store for buying electricals, January 2017 (UK November 2016)
                                    • Reasons for preferring to shop online
                                        • Figure 23: Europe: reasons why online shoppers prefer to buy online, January 2017 (UK November 2016)
                                      • Reasons for preferring to shop in-store
                                          • Figure 24: Europe: reasons why in-store shoppers prefer to buy in-store, January 2017 (UK November 2016)
                                      • Executive Summary – Europe – Innovation and Launch Activity

                                        • Why buy?
                                          • In-store experience
                                            • Local techie support
                                              • Apple’s new-look urban store
                                                • One-stop connect home solution
                                                • France

                                                  • Overview
                                                    • What you need to know
                                                      • Areas covered in this report
                                                        • Executive summary
                                                          • The market
                                                            • Spending and inflation
                                                              • Figure 25: France: annual percentage growth in spending on electrical items and all spending, 2012-16
                                                            • Channels of distribution
                                                              • Figure 26: France: estimated distribution of spending on electrical/electronic goods, 2016
                                                            • Sector size and forecast
                                                              • Leading players
                                                                • Key metrics
                                                                  • Market shares
                                                                    • Online
                                                                      • The consumer
                                                                        • What electricals they buy
                                                                          • Figure 27: France: types of electrical products purchased, January 2017
                                                                        • How they shop for electricals
                                                                          • Figure 28: France: how they shop for electricals, in-store vs online, January 2017
                                                                        • Where they shop and why
                                                                          • Figure 29: France: where they shop for electricals, whether in-store or online, January 2017
                                                                          • Figure 30: France: reasons for shopping for electricals online and in-store, January 2017
                                                                        • What we think
                                                                          • Issues and insights
                                                                            • The ongoing integration of online and in-store
                                                                              • The facts
                                                                                • The implications
                                                                                  • What can store-based retailers do?
                                                                                    • What can online-only retailers do?
                                                                                      • What will the Fnac/Darty merger mean?
                                                                                        • The facts
                                                                                          • The implications
                                                                                            • For the sector
                                                                                              • For Fnac Darty
                                                                                                • The market – What you need to know
                                                                                                  • Growth in economy and electricals spending is low
                                                                                                    • Steep deflation on electricals on personal care items
                                                                                                      • Grocers and specialist chains are the main channels
                                                                                                        • Specialists thriving despite weak spending
                                                                                                          • Spending and inflation
                                                                                                            • Economic growth is sluggish
                                                                                                              • Market size and trend
                                                                                                                • Figure 31: France: consumer spending on electrical items (incl. VAT), 2012-16
                                                                                                                • Figure 32: France: consumer spending on electrical items (annual % change in volumes, 2010 prices), 2011-15
                                                                                                              • Inflation
                                                                                                                • Figure 33: France: consumer prices, Annual % change, 2012-16
                                                                                                                • Figure 34: France: consumer price inflation on electrical items, annual % change, Jan 2015-Dec 2016
                                                                                                              • Product market breakdown
                                                                                                                • Figure 35: France: main electricals markets, volume sales, 2011-16
                                                                                                                • Figure 36: France: main electricals markets, volume sales forecasts, 2016-20
                                                                                                              • Channels of distribution
                                                                                                                • Specialists dominate distribution, with the big players growing share
                                                                                                                  • Figure 37: France: where they shop for electrical products, whether in-store or online, by channel, January 2017
                                                                                                                • Hypermarkets losing non-food sales
                                                                                                                  • Online expanding fast
                                                                                                                    • Figure 38: France: estimated distribution of spending on electrical/electronic goods, 2016
                                                                                                                  • Sector size and forecast
                                                                                                                    • Total retail sales recovered in 2015, further growth anticipated for 2016
                                                                                                                      • Electricals retailers’ sales accelerating
                                                                                                                        • Figure 39: France: electricals specialists’ sales, excl VAT, 2011-16
                                                                                                                        • Figure 40: France: electricals specialists’ sales, forecasts, excl VAT, 2017-21
                                                                                                                        • Figure 41: France: electricals retailers’ sales relative to all spending on electricals, 2011-16
                                                                                                                      • Leading players – What you need to know
                                                                                                                        • Specialists chains are thriving
                                                                                                                          • Fnac/Darty integration underway
                                                                                                                            • Boulanger in third place, with other players smaller
                                                                                                                              • Defensive buying partnerships
                                                                                                                                • Marketplaces driving growth
                                                                                                                                  • Top four generate 40% of sector sales
                                                                                                                                    • Online now a vital part of the buying process
                                                                                                                                      • Leading players
                                                                                                                                        • The Fnac Darty deal
                                                                                                                                          • Defensive buying partnerships
                                                                                                                                            • Boulanger and Auchan
                                                                                                                                              • Casino/Cdiscount and Conforama:
                                                                                                                                                • Marketplaces
                                                                                                                                                  • Furniture/electricals combo retailers also strong
                                                                                                                                                    • Independents losing out
                                                                                                                                                      • Telecoms specialists
                                                                                                                                                          • Figure 42: France: leading specialist electrical retailers, sales, 2013-16
                                                                                                                                                          • Figure 43: France: leading specialist electrical retailers, outlet numbers, 2013-16
                                                                                                                                                          • Figure 44: France: leading specialist electrical retailers, sales per outlet, 2013-16
                                                                                                                                                        • Market shares
                                                                                                                                                          • Figure 45: France: leading specialist electrical retailers: shares of spending on electricals items, 2013-16
                                                                                                                                                        • Online
                                                                                                                                                          • Online activity and device usage
                                                                                                                                                            • Shopping online
                                                                                                                                                              • Figure 46: France: online buyers of electrical items in last 12 months, 2012-16
                                                                                                                                                            • Online sales
                                                                                                                                                              • Leading online players
                                                                                                                                                                • Figure 47: France: estimated sales of electricals online by leading retailers, 2013-16
                                                                                                                                                                • Figure 48: France: top retail sites by number of unique visitors, October-November 2016
                                                                                                                                                              • The consumer – What you need to know
                                                                                                                                                                • Mobile devices most popular, particularly amongst men and the young
                                                                                                                                                                  • Online a well advanced part of the market
                                                                                                                                                                    • Specialists dominate
                                                                                                                                                                      • Darty and Amazon the key retail brands
                                                                                                                                                                        • Online and in-store complementary
                                                                                                                                                                          • What electricals they buy
                                                                                                                                                                            • Men and younger consumers buy most
                                                                                                                                                                              • Figure 49: France: types of electrical products purchased, January 2017
                                                                                                                                                                            • Opportunities to market to women
                                                                                                                                                                              • Figure 50: France: types of electrical products purchased, by gender, January 2017
                                                                                                                                                                            • Younger consumers buy more
                                                                                                                                                                              • Figure 51: France: types of electrical products purchased, by age, January 2017
                                                                                                                                                                            • Technology ownership
                                                                                                                                                                              • Figure 52: France: technology products personally owned, Q1 2017
                                                                                                                                                                            • How they shop for electricals – Online vs in-store
                                                                                                                                                                              • Shopping online almost on a par with in-store
                                                                                                                                                                                • Figure 53: France: how they shop for electricals, in-store vs online, January 2017
                                                                                                                                                                                • Figure 54: France: how they shop for electricals, in-store vs online, by gender, January 2017
                                                                                                                                                                                • Figure 55: France: how they shop for electricals, in-store vs online, by age, January 2017
                                                                                                                                                                              • Where they shop for electricals and why
                                                                                                                                                                                • Specialists most popular, with Darty leading
                                                                                                                                                                                  • Figure 56: France: where they shop for electricals, whether in-store or online, January 2017
                                                                                                                                                                                • Online: Amazon dominant
                                                                                                                                                                                    • Figure 57: France: where they shop for electricals, online, January 2017
                                                                                                                                                                                  • Customer profiles of online shoppers
                                                                                                                                                                                    • Figure 58: France: profile of those who had bought electricals online, by retailer used, January 2017
                                                                                                                                                                                  • In-store: Darty leads
                                                                                                                                                                                    • Figure 59: France: where they shop for electricals, in-store, January 2017
                                                                                                                                                                                    • Figure 60: France: profile of those who had bought electricals in-store, by retailer used, January 2017
                                                                                                                                                                                  • Reasons for shopping online and in-store
                                                                                                                                                                                    • The two are equally important and complementary
                                                                                                                                                                                      • The physical experience can only be had in-store
                                                                                                                                                                                        • In-store advice highly valued, with opportunities for all types of retailer
                                                                                                                                                                                          • Figure 61: France: reasons for shopping for electricals online and in-store, January 2017
                                                                                                                                                                                        • Reasons for shopping crossed by individual retailer
                                                                                                                                                                                          • Shopping online
                                                                                                                                                                                            • Figure 62: France: reasons for shopping for electricals online, by retailer used, January 2017
                                                                                                                                                                                          • Shopping in-store
                                                                                                                                                                                            • Figure 63: France: reasons for shopping for electricals in-store, by retailer used, January 2017
                                                                                                                                                                                          • Appendix – Data sources, abbreviations and supporting information
                                                                                                                                                                                            • Abbreviations
                                                                                                                                                                                              • Data sources
                                                                                                                                                                                              • Germany

                                                                                                                                                                                                • Overview
                                                                                                                                                                                                  • What you need to know
                                                                                                                                                                                                    • Areas covered in this report
                                                                                                                                                                                                      • Executive summary
                                                                                                                                                                                                        • The market
                                                                                                                                                                                                          • Spending and inflation
                                                                                                                                                                                                            • Figure 64: Germany: consumer spending, year on year % change, 2012-16
                                                                                                                                                                                                          • Channels of distribution
                                                                                                                                                                                                            • Figure 65: Germany: estimated distribution of spending on electrical goods, 2015-16
                                                                                                                                                                                                          • Sector size and forecast
                                                                                                                                                                                                            • Figure 66: Germany: electricals specialists’ sales, year-on-year % growth, 2011-16
                                                                                                                                                                                                          • Leading players
                                                                                                                                                                                                            • Key metrics
                                                                                                                                                                                                              • Market shares
                                                                                                                                                                                                                • Figure 67: Germany: leading specialist electrical specialists’ estimated shares of spending on electrical goods, 2016
                                                                                                                                                                                                              • Online
                                                                                                                                                                                                                • The consumer
                                                                                                                                                                                                                  • What electricals they buy
                                                                                                                                                                                                                    • Figure 68: Germany: types of electrical products purchased, January 2017
                                                                                                                                                                                                                  • How they shop
                                                                                                                                                                                                                    • Figure 69: Germany: how they shop for electricals, in-store vs online, January 2017
                                                                                                                                                                                                                  • Where they shop
                                                                                                                                                                                                                    • Figure 70: Germany: where they shop for electrical products, whether online or in-store, January 2017
                                                                                                                                                                                                                  • What we think
                                                                                                                                                                                                                    • Issues and insights
                                                                                                                                                                                                                      • Omnichannel shopping is now the norm
                                                                                                                                                                                                                        • The facts
                                                                                                                                                                                                                          • The implications
                                                                                                                                                                                                                            • How can smaller specialists compete?
                                                                                                                                                                                                                              • The facts
                                                                                                                                                                                                                                • The implications
                                                                                                                                                                                                                                  • The market – What you need to know
                                                                                                                                                                                                                                    • Spending on electricals goes negative again
                                                                                                                                                                                                                                      • Spending on appliances up
                                                                                                                                                                                                                                        • Inflation remains low
                                                                                                                                                                                                                                          • Specialists increase their share of spending
                                                                                                                                                                                                                                            • Specialists grow their sales
                                                                                                                                                                                                                                              • Spending and inflation
                                                                                                                                                                                                                                                • Solid and steady economic growth
                                                                                                                                                                                                                                                  • Electricals spending falls
                                                                                                                                                                                                                                                    • Figure 71: Germany: consumer spending on electrical items (incl. VAT), 2012-16
                                                                                                                                                                                                                                                  • Inflation
                                                                                                                                                                                                                                                    • Figure 72: Germany: consumer prices, annual % change, 2012-16
                                                                                                                                                                                                                                                    • Figure 73: Germany: consumer price inflation on electrical items, annual % change, July 2015-December 2016
                                                                                                                                                                                                                                                  • Product market breakdown
                                                                                                                                                                                                                                                      • Figure 74: Germany: main electricals markets, volume sales, 2012-16
                                                                                                                                                                                                                                                      • Figure 75: Germany: main electricals markets, volume sales forecasts, 2016-20
                                                                                                                                                                                                                                                    • Channels of distribution
                                                                                                                                                                                                                                                      • Specialists gain share
                                                                                                                                                                                                                                                          • Figure 76: Germany: estimated distribution of spending on electricals/electrical goods, 2016
                                                                                                                                                                                                                                                        • Sector size and forecast
                                                                                                                                                                                                                                                          • Sales via the specialists improve
                                                                                                                                                                                                                                                            • Figure 77: Germany: electricals specialists’ sales, excl VAT, 2011-16
                                                                                                                                                                                                                                                            • Figure 78: Germany: electricals specialists’ sales, forecasts, excl VAT, 2017-21
                                                                                                                                                                                                                                                            • Figure 79: Germany: electricals specialists’ sales relative to all spending on electricals, 2010-16
                                                                                                                                                                                                                                                          • Leading players – What you need to know
                                                                                                                                                                                                                                                            • Media-Saturn continues to grow
                                                                                                                                                                                                                                                              • Leading specialists account for a steady share of the market
                                                                                                                                                                                                                                                                • Online accounts for over a quarter of sales
                                                                                                                                                                                                                                                                  • Leading players
                                                                                                                                                                                                                                                                    • Media-Saturn continues to improve
                                                                                                                                                                                                                                                                      • Buying groups manage low growth
                                                                                                                                                                                                                                                                        • Challenging year for mobile phone companies
                                                                                                                                                                                                                                                                          • AO growing from a small base
                                                                                                                                                                                                                                                                            • Figure 80: Germany: leading specialist electrical retailers, sales, 2014-16
                                                                                                                                                                                                                                                                            • Figure 81: Germany: leading specialist electrical retailers, outlets, 2014-16
                                                                                                                                                                                                                                                                            • Figure 82: Germany: leading specialist electrical retailers, estimated sales per outlet, 2014-16
                                                                                                                                                                                                                                                                          • Market shares
                                                                                                                                                                                                                                                                            • Figure 83: Germany: leading specialist electrical retailers, estimated shares of spending on electricals items, 2014-16
                                                                                                                                                                                                                                                                          • Online
                                                                                                                                                                                                                                                                            • Online activity and device usage
                                                                                                                                                                                                                                                                              • Shopping online
                                                                                                                                                                                                                                                                                • Figure 84: Germany: online buyers of electrical items in last three months, 2012-16
                                                                                                                                                                                                                                                                              • Online sales
                                                                                                                                                                                                                                                                                • Leading online players
                                                                                                                                                                                                                                                                                  • Figure 85: Germany: estimated sales of electricals online by leading retailers, 2014-16
                                                                                                                                                                                                                                                                                • The consumer – What you need to know
                                                                                                                                                                                                                                                                                  • 70% have bought electricals in the past year
                                                                                                                                                                                                                                                                                    • Omnichannel shopping has become the norm
                                                                                                                                                                                                                                                                                      • Over half shop at Media-Saturn
                                                                                                                                                                                                                                                                                        • Price perception driving online sales
                                                                                                                                                                                                                                                                                          • Stores preferred for seeing products and advice
                                                                                                                                                                                                                                                                                            • What electricals they buy
                                                                                                                                                                                                                                                                                              • 70% have bought electrical goods in the past year
                                                                                                                                                                                                                                                                                                • Figure 86: Germany: types of electrical products purchased, January 2017
                                                                                                                                                                                                                                                                                              • Men more likely to buy electrical goods than women
                                                                                                                                                                                                                                                                                                • Figure 87: Germany: types of electrical products purchased, by gender, January 2017
                                                                                                                                                                                                                                                                                              • Electrical buyers have higher than average income
                                                                                                                                                                                                                                                                                                • Figure 88: Germany: electrical goods purchased, by average age and household income, January 2017
                                                                                                                                                                                                                                                                                              • How they shop for electricals – Online vs in-store
                                                                                                                                                                                                                                                                                                • Omnichannel shopping has become the norm
                                                                                                                                                                                                                                                                                                  • Figure 89: Germany: how they shop for electricals, in-store vs online, January 2017
                                                                                                                                                                                                                                                                                                • Women more likely to use stores than men
                                                                                                                                                                                                                                                                                                  • Figure 90: Germany: how they shop for electricals, in-store vs online, by gender, January 2017
                                                                                                                                                                                                                                                                                                • Wealthier shoppers use multiple channels to market
                                                                                                                                                                                                                                                                                                  • Figure 91: Germany: how they shop for electricals, in-store vs online, by average age and household income, January 2017
                                                                                                                                                                                                                                                                                                • Gender can determine how items are purchased
                                                                                                                                                                                                                                                                                                  • Figure 92: Germany: what they bought by how they shopped, January 2017
                                                                                                                                                                                                                                                                                                • Where they shop for electricals and why
                                                                                                                                                                                                                                                                                                  • Specialists and non-specialists evenly split
                                                                                                                                                                                                                                                                                                    • Figure 93: Germany: where they shop for electrical products, whether online or in-store, January 2017
                                                                                                                                                                                                                                                                                                  • Media-Saturn dominates in-store shopping
                                                                                                                                                                                                                                                                                                    • Figure 94: Germany: where they shop for electrical products in-store, January 2017
                                                                                                                                                                                                                                                                                                  • While Amazon leads online
                                                                                                                                                                                                                                                                                                    • Figure 95: Germany: where they shop for electrical products online, January 2017
                                                                                                                                                                                                                                                                                                  • Amazon and Media-Saturn target similar shoppers
                                                                                                                                                                                                                                                                                                    • Figure 96: Germany: where they shop for electrical goods, by average age and household income, January 2017
                                                                                                                                                                                                                                                                                                  • Reasons for shopping online
                                                                                                                                                                                                                                                                                                    • Figure 97: Germany: reasons for shopping for electricals online, January 2017
                                                                                                                                                                                                                                                                                                  • Women like to compare products
                                                                                                                                                                                                                                                                                                    • Figure 98: Germany: reasons for shopping for electricals online, by gender, January 2017
                                                                                                                                                                                                                                                                                                  • Online pureplays trade on a range and price
                                                                                                                                                                                                                                                                                                    • Figure 99: Germany: reasons for shopping for electricals online, by retailer used, January 2017
                                                                                                                                                                                                                                                                                                  • Reasons for shopping in-store
                                                                                                                                                                                                                                                                                                      • Figure 100: Germany: reasons for shopping for electricals in-store, January 2017
                                                                                                                                                                                                                                                                                                    • Women want to see the products
                                                                                                                                                                                                                                                                                                      • Figure 101: Germany: reasons for shopping for electricals in-store, by gender, January 2017
                                                                                                                                                                                                                                                                                                    • Appendix – Data sources, abbreviations and supporting information
                                                                                                                                                                                                                                                                                                      • Abbreviations
                                                                                                                                                                                                                                                                                                        • Data sources
                                                                                                                                                                                                                                                                                                        • Italy

                                                                                                                                                                                                                                                                                                          • Overview
                                                                                                                                                                                                                                                                                                            • What you need to know
                                                                                                                                                                                                                                                                                                              • Areas covered in this report
                                                                                                                                                                                                                                                                                                                • Executive summary
                                                                                                                                                                                                                                                                                                                  • The market
                                                                                                                                                                                                                                                                                                                    • Spending and inflation
                                                                                                                                                                                                                                                                                                                      • Figure 102: Italy: annual percentage growth in spending on electrical items and all spending, 2012-16
                                                                                                                                                                                                                                                                                                                    • Channels of distribution
                                                                                                                                                                                                                                                                                                                      • Figure 103: Italy: estimated distribution of spending on electrical goods, 2016
                                                                                                                                                                                                                                                                                                                    • Sector size and forecast
                                                                                                                                                                                                                                                                                                                      • Figure 104: Italy: annual % change in all retail sales (excl. fuel) and household goods retail sales, 2012-16
                                                                                                                                                                                                                                                                                                                    • Leading players
                                                                                                                                                                                                                                                                                                                      • Key metrics
                                                                                                                                                                                                                                                                                                                        • Market shares
                                                                                                                                                                                                                                                                                                                          • Figure 105: Italy: leading electricals specialists: estimated shares of spending on electricals items, 2015-16
                                                                                                                                                                                                                                                                                                                        • Online
                                                                                                                                                                                                                                                                                                                          • The consumer
                                                                                                                                                                                                                                                                                                                            • What electricals they buy
                                                                                                                                                                                                                                                                                                                              • How they shop for electricals
                                                                                                                                                                                                                                                                                                                                • Figure 106: Italy: how they shop for electricals, in-store vs online, January 2017
                                                                                                                                                                                                                                                                                                                              • Where they shop and why
                                                                                                                                                                                                                                                                                                                                • Figure 107: Italy: where they shop for electricals, whether in-store or online, January 2017
                                                                                                                                                                                                                                                                                                                              • What we think
                                                                                                                                                                                                                                                                                                                                • Issues and insights
                                                                                                                                                                                                                                                                                                                                  • Electrical retailers should look to capitalise on the growth of m-commerce
                                                                                                                                                                                                                                                                                                                                    • The facts
                                                                                                                                                                                                                                                                                                                                      • The implications
                                                                                                                                                                                                                                                                                                                                        • First-hand product experience is important to in-store shoppers
                                                                                                                                                                                                                                                                                                                                          • The facts
                                                                                                                                                                                                                                                                                                                                            • The implications
                                                                                                                                                                                                                                                                                                                                              • The market – What you need to know
                                                                                                                                                                                                                                                                                                                                                • Consumer spend on electricals up for the third consecutive year
                                                                                                                                                                                                                                                                                                                                                  • Prices of electrical goods creeping up
                                                                                                                                                                                                                                                                                                                                                    • Specialists account for 76% of spending on electrical products
                                                                                                                                                                                                                                                                                                                                                      • Electrical retail sales growth accelerates
                                                                                                                                                                                                                                                                                                                                                        • Spending and inflation
                                                                                                                                                                                                                                                                                                                                                          • Signs of economic recovery
                                                                                                                                                                                                                                                                                                                                                            • Market size and trend
                                                                                                                                                                                                                                                                                                                                                              • Figure 108: Italy: consumer spending on electrical items (incl. VAT), 2012-16
                                                                                                                                                                                                                                                                                                                                                            • Inflation
                                                                                                                                                                                                                                                                                                                                                              • Figure 109: Italy: consumer prices, annual % change, 2012-16
                                                                                                                                                                                                                                                                                                                                                              • Figure 110: Italy: consumer price inflation on electrical items, annual % change, July 2015-December 2016
                                                                                                                                                                                                                                                                                                                                                            • Product market breakdown
                                                                                                                                                                                                                                                                                                                                                              • Figure 111: Italy: main electricals markets, volume sales, 2011-16
                                                                                                                                                                                                                                                                                                                                                              • Figure 112: Italy: main electricals markets, volume sales forecasts, 2016-20
                                                                                                                                                                                                                                                                                                                                                            • Channels of distribution
                                                                                                                                                                                                                                                                                                                                                              • Figure 113: Italy: estimated distribution of spending on electrical goods, 2015-16
                                                                                                                                                                                                                                                                                                                                                            • Sector size and forecast
                                                                                                                                                                                                                                                                                                                                                              • Figure 114: Italy: household goods specialists’ sales, excl. VAT, 2011-16
                                                                                                                                                                                                                                                                                                                                                              • Figure 115: Italy: household goods specialists’ sales, forecasts, excl. VAT, 2017-21
                                                                                                                                                                                                                                                                                                                                                            • Electrical retail sales estimates
                                                                                                                                                                                                                                                                                                                                                              • Figure 116: Italy: estimated electricals retailers’ sales, excl. VAT, 2011-16
                                                                                                                                                                                                                                                                                                                                                            • Leading players – What you need to know
                                                                                                                                                                                                                                                                                                                                                              • Expert’s extends market-leading position with 17% y-o-y sales increase
                                                                                                                                                                                                                                                                                                                                                                • Media World and Euronics update store formats
                                                                                                                                                                                                                                                                                                                                                                  • MiniTrony looks to convenience
                                                                                                                                                                                                                                                                                                                                                                    • Expert grows market share
                                                                                                                                                                                                                                                                                                                                                                      • Online
                                                                                                                                                                                                                                                                                                                                                                        • Leading players
                                                                                                                                                                                                                                                                                                                                                                          • Unieuro bolsters online shopping experience
                                                                                                                                                                                                                                                                                                                                                                            • Telecoms specialists
                                                                                                                                                                                                                                                                                                                                                                                • Figure 117: Italy: leading specialist electrical retailers, estimated sales, 2013-16
                                                                                                                                                                                                                                                                                                                                                                                • Figure 118: Italy: leading specialist electrical retailers, estimated outlet numbers, 2013-16
                                                                                                                                                                                                                                                                                                                                                                                • Figure 119: Italy: leading specialist electrical retailers, estimated sales per outlet, 2013-16
                                                                                                                                                                                                                                                                                                                                                                              • Market shares
                                                                                                                                                                                                                                                                                                                                                                                • Figure 120: Italy: leading specialist electrical retailers: Estimated shares of all spending on electricals items, 2013-16
                                                                                                                                                                                                                                                                                                                                                                              • Online
                                                                                                                                                                                                                                                                                                                                                                                • Online activity and device usage
                                                                                                                                                                                                                                                                                                                                                                                  • Figure 121: Italy: broadband connections, 2012-16
                                                                                                                                                                                                                                                                                                                                                                                • Shopping online
                                                                                                                                                                                                                                                                                                                                                                                  • Figure 122: Italy: online buyers of electrical items in last 12 months, 2012-16
                                                                                                                                                                                                                                                                                                                                                                                • Online sales
                                                                                                                                                                                                                                                                                                                                                                                  • Leading online players
                                                                                                                                                                                                                                                                                                                                                                                    • The consumer – What you need to know
                                                                                                                                                                                                                                                                                                                                                                                      • Mobile phones/tablets are the most purchased electrical products
                                                                                                                                                                                                                                                                                                                                                                                        • Majority of Italian consumers purchase electrical products in-store
                                                                                                                                                                                                                                                                                                                                                                                          • Amazon is the single most used retailer for purchasing electrical products
                                                                                                                                                                                                                                                                                                                                                                                            • Most popular reason for shopping in-store is to try and inspect products
                                                                                                                                                                                                                                                                                                                                                                                              • What electricals they buy
                                                                                                                                                                                                                                                                                                                                                                                                • Mobile phones/tablets are the most popular purchases
                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 123: Italy: types of electrical products purchased, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                • More women than men haven’t bought electrical products
                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 124: Italy: types of electrical products purchased, by gender, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                • Young millennials are the biggest purchasers of mobile devices
                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 125: Italy: types of electrical products purchased, by age, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                • Technology ownership
                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 126: Italy: technology products personally owned, Q1 2017
                                                                                                                                                                                                                                                                                                                                                                                                • How they shop for electricals – Online vs in-store
                                                                                                                                                                                                                                                                                                                                                                                                  • Most Italian consumers buy electricals in-store
                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 127: Italy: how they shop for electricals, in-store vs online, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                  • Female consumers prefer to shop in-store
                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 128: Italy: how they shop for electricals, in-store vs online, by gender, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                  • Older consumers less inclined to shop online for electricals
                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 129: Italy: how they shop for electricals, in-store vs online, by age, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                  • What they bought online/instore
                                                                                                                                                                                                                                                                                                                                                                                                    • Gaming hardware is the most purchased product online
                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 130: Italy: how they shop for electricals, in-store vs online, by product purchased, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                    • Where they shop for electricals and why
                                                                                                                                                                                                                                                                                                                                                                                                      • Amazon is the most used retailer for electrical goods purchasing
                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 131: Italy: where they shop for electricals, whether in-store or online, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                      • Online: Amazon dominant
                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 132: Italy: where they shop for electricals, online, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                      • Customer profiles of online shoppers
                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 133: Italy: profile of those who had bought electricals online, by retailer used, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                      • In-store: Media World leads
                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 134: Italy: where they shop for electricals, in-store, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                      • Customer profiles of in-store shoppers
                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 135: Italy: profile of those who had bought electricals in-store, by retailer used, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                      • Reasons for shopping online and in-store
                                                                                                                                                                                                                                                                                                                                                                                                        • Consumers value the hands-on product experience in-store
                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 136: Italy: reasons for shopping for electricals in-store, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                        • Lower prices are the biggest draw for shopping online for electricals
                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 137: Italy: reasons for shopping for electricals online, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                        • Reasons for shopping crossed by individual retailer
                                                                                                                                                                                                                                                                                                                                                                                                          • Shopping online
                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 138: Italy: reasons for shopping for electricals online, by retailer used, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                          • Shopping in-store
                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 139: Italy: reasons for shopping for electricals in-store, by retailer used, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                          • Appendix – Data sources, abbreviations and supporting information
                                                                                                                                                                                                                                                                                                                                                                                                            • Abbreviations
                                                                                                                                                                                                                                                                                                                                                                                                              • Data sources
                                                                                                                                                                                                                                                                                                                                                                                                              • Spain

                                                                                                                                                                                                                                                                                                                                                                                                                • Overview
                                                                                                                                                                                                                                                                                                                                                                                                                  • What you need to know
                                                                                                                                                                                                                                                                                                                                                                                                                    • Areas covered in this report
                                                                                                                                                                                                                                                                                                                                                                                                                      • Executive summary
                                                                                                                                                                                                                                                                                                                                                                                                                        • The market
                                                                                                                                                                                                                                                                                                                                                                                                                          • Spending and inflation
                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 140: Spain: consumer price inflation, annual % change, 2010-16
                                                                                                                                                                                                                                                                                                                                                                                                                          • Channels of distribution
                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 141: Spain: estimated distribution of spending on electricals goods, 2016
                                                                                                                                                                                                                                                                                                                                                                                                                          • Sector size and forecast
                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 142: Spain: annual % change in all retail sales (excl. fuel) and electrical goods specialists’ retail sales, 2011-16
                                                                                                                                                                                                                                                                                                                                                                                                                          • Leading players
                                                                                                                                                                                                                                                                                                                                                                                                                            • Key metrics
                                                                                                                                                                                                                                                                                                                                                                                                                              • Market shares
                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 143: Spain: leading specialist electrical retailers: estimated shares of spending on electricals items, 2016
                                                                                                                                                                                                                                                                                                                                                                                                                              • Online
                                                                                                                                                                                                                                                                                                                                                                                                                                • The consumer
                                                                                                                                                                                                                                                                                                                                                                                                                                  • What electricals they buy
                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 144: Spain: types of electrical products purchased, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                  • Where they shop for electricals
                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 145: Spain: where they shop for electricals, whether online or in-store, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                  • Online vs offline
                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 146: Spain: how they shop for electricals, in-store vs online, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                  • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                    • Issues and insights
                                                                                                                                                                                                                                                                                                                                                                                                                                      • High levels of promotional activity eroding sales growth
                                                                                                                                                                                                                                                                                                                                                                                                                                        • The facts
                                                                                                                                                                                                                                                                                                                                                                                                                                          • The implications
                                                                                                                                                                                                                                                                                                                                                                                                                                            • Specialists need to boost appeal in competitive market
                                                                                                                                                                                                                                                                                                                                                                                                                                              • The facts
                                                                                                                                                                                                                                                                                                                                                                                                                                                • The implications
                                                                                                                                                                                                                                                                                                                                                                                                                                                  • The market – What you need to know
                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Consumer spending on electricals rose 8.9% in 2015
                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Deflationary prices continued into 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Mobile phones dominate volume sales
                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Channels of distribution
                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Specialists’ retail sales forecast to be flat in 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Spending and inflation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Economy recovering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Consumer spending
                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 147: Spain: consumer spending on electrical items (incl. VAT), 2012-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Inflation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 148: Spain: consumer prices, annual % change, 2012-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 149: Spain: consumer price inflation on electrical items, annual % change, July 2015-December 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Product market breakdown
                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 150: Spain: main electricals markets, volume sales, 2012-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 151: Spain: main electricals markets, volume sales forecasts, 2016-20
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Channels of distribution
                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Specialists dominate, but losing share
                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 152: Spain: estimated distribution of spending on electrical goods, 2014-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Sector size and forecast
                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Electricals specialists growth set to slow
                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 153: Spain: electricals specialists’ sales, excl VAT, 2011-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 154: Spain: electricals specialists’ sales, forecasts, excl VAT, 2016-21
                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Leading players – What you need to know
                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Media Markt achieves 4.7% sales growth in 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Worten also continuing to grow
                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Most specialists losing market share
                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Online electrical retail sales reach €1.8 billion in 2015
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Leading players
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Media Markt growth continues
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Worten expanding store network
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Fnac struggles in discount-driven market
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 155: Spain: leading specialist electrical retailers, sales, 2012-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 156: Spain: leading specialist electrical retailers, outlets, 2012-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 157: Spain: leading specialist electrical retailers, estimated sales per outlet, 2012-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Market shares
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 158: Spain: leading specialist electrical retailers, shares of spending on electricals items, 2014-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Online activity and device usage
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Shopping online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 159: Spain: online buyers in last 12 months, by country, 2007-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 160: Spain: online buyers of electrical items in last 12 months, 2007-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Online retail sales
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Electricals shopping: in-store vs online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 161: Spain: how they shop for electrical products, in-store vs online, January 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Leading online players
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 162: Spain: where they shop for electrical products online, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • The consumer – What you need to know
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Three quarters of people bought electricals in 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • In-store continues to be the primary channel
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Almost half shop at Media Markt
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Lower prices draw people to online shopping
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • In-store advice continues to be important
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • What electricals they buy
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Almost half shop for mobile phones and tablets
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 163: Spain: types of electrical products purchased, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Men continue to drive purchasing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 164: Spain: types of electrical products purchased, by gender, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Young people more tech-focused
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 165: Spain: types of electrical products purchased, by age, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Technology ownership
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 166: Spain: technology products personally owned, Q1 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • How they shop for electricals – Online vs in-store
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • In-store vs online shopping
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 167: Spain: how they shop for electricals, in-store vs online, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Men more likely to shop online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 168: Spain: how they shop for electricals, in-store vs online, by gender, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Online purchasing peaks amongst older Millennials
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 169: Spain: how they shop for electricals, in-store vs online, by age, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Cameras and video cameras more likely to be bought online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 170: Spain: how they shop for electricals, in-store vs online, by product purchased, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Where they shop for electricals and why
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Media Markt is the most used retailer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 171: Spain: where they shop for electricals, whether in-store or online, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Fnac online offer popular
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 172: Spain: where consumers shop for electricals, by channel, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Apple attracts young and affluent shoppers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 173: Spain: profile of those who bought either in-store or online, by retailer used, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Prices are perceived as lower online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 174: Spain: reasons for shopping for electricals online, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Leading retailers attract shoppers with broad online assortment
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 175: Spain: reasons for shopping for electricals online, by retailer used: Media Markt, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 176: Spain: reasons for shopping for electricals online, by retailer used: Amazon, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • In-store experience is important
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 177: Spain: reasons for shopping for electricals in-store, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Department stores’ in-store customer service stands out
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 178: Spain: reasons for shopping for electricals in-store, by retailer used, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Appendix – Data sources, abbreviations and supporting information
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Abbreviations
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Data sources
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • UK

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Overview
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • What you need to know
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Products covered in this Report
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Executive summary
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • The market
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Spending on electricals soars in 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 179: Consumer spending on all electrical products: market size and forecast (including VAT), 2011-21
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Specialists welcome positive growth, but lose market share
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Online accounts for over half of spending on electrical goods
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 180: Estimated online sales of electrical goods as a % of total consumer spending on electrical goods (Including VAT), 2012-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Prices beginning to edge up
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Companies and brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Amazon gains share…
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 181: Estimated market shares of the leading specialist and non-specialist retailers of electrical goods, 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • … and scores highly on trust
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 182: Attitudes towards and usage of selected brands, December 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • The consumer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Three quarters of consumers purchased electricals in 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 183: Types of electrical products purchased in the past 12 months, November 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Argos remains most popular but Currys PC World is catching up fast
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 184: Retailers used to purchase electrical goods in the past 12 months, either in-store or online, November 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Two in five purchased or used an aftersales product or service
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 185: Additional services/products purchased or taken out in the last 12 months, November 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • In-store demonstrations remain important, but consumers want more educational services
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 186: Attitudes to in-store demonstrations and technology services, November 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Price convergence
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 187: Attitudes to retailers pricing of electrical products, November 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Black Friday 2016 was the biggest yet, but what does this mean for 2017?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 188: Black Friday 2016 purchasing, December 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Issues and insights
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Does Dixons Carphone’s vision of a service driven future stack up?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • The facts
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • The implications
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Price increases: what’s the impact and does it matter?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • The facts
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • The implications
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Is same-day delivery taking away one of a stores’ last remaining USPs?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • The facts
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • The implications
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • The market – What you need to know
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Spending on electricals soars in 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Specialists welcome positive growth, but lose market share
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Online-only players gain from specialist market share loss
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Prices beginning to edge up
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Housing market a boost for the sector
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Market drivers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Retail sales
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 189: Annual % change in all retail sales, electrical household appliance specialists and computers & telecoms equipment specialists, non-seasonally adjusted value series, Jan 2015-Dec 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 190: Annual % change in all retail sales, electrical household appliance specialists and computers & telecoms equipment specialists, non-seasonally adjusted volume series, Jan 2015-Dec 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Average weekly sales: Q4 becoming increasingly important
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 191: Average weekly retail sales in the electrical household appliance specialists and computers and telecommunications specialists categories, Oct 2015-Dec 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Prices edging up
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 192: Price inflation: annual rate of change in core electrical categories, by month, Jan-Dec 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 193: Price inflation: annual rate of change in core electrical categories, 2010-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Real incomes still growing, but is a squeeze coming?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 194: Real wage growth: wages growth vs inflation, Jan 2012-Dec 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Property transactions
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 195: Number of property residential property transactions with a value of over £40,000 completed in the UK, Jun 2015-Dec 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 196: Number of property residential property transactions with a value of over £40,000 completed in the UK, 2006-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Renting falls
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 197: UK households by tenure, 2011-15
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Market size and forecast
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • A very strong 2016 for spending
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 198: Consumer spending on all electrical products: market size and forecast (including VAT), 2011-21
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 199: Electrical products: market size and forecast (including VAT), in current and constant prices, 2011-21
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Segment forecasts
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 200: Core electrical goods segments as a percentage of the total market, 2013-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Household appliances
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 201: Household appliances: segment size and forecast (including VAT), 2011-21
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 202: Household appliances: segment size and forecast (including VAT), in current and constant prices, 2011-21
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Computing and telecoms
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 203: Computing and telecoms goods: segment size and forecast (including VAT), 2011-21
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 204: Computing and telecoms goods: segment size and forecast (including VAT), in current and constant prices, 2011-21
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Audio-visual and photographic goods
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 205: Audio-visual and photographic goods: segment size and forecasts (including VAT), 2011-21
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 206: Audio-visual and photographic goods: segment size and forecast (including VAT), in current and constant prices, 2011-21
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Personal care appliances
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 207: Personal care appliances: segment size and forecast (including VAT), 2011-21
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 208: Personal care appliances: segment size and forecast (including VAT), in current and constant prices, 2011-21
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Forecast methodology
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Specialist sector size
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Specialists lose share but 2016 was positive
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 209: Electrical goods specialists as a percentage of all consumer spending on electrical goods (including VAT), 2012-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 210: Electrical goods specialist sector sales (incl. and excluding VAT), 2012-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Smaller operators can find a niche with the smart home
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 211: Number of retail outlets, 2012-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 212: Number of retail enterprises, 2012-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Channels of distribution
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Specialists lose share, with pureplayers the big winners
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 213: Estimated distribution of spending on electrical goods, %, 2015 and 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • The consumer – What you need to know
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Three quarters of consumers purchased electricals in 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Online is the dominant method of purchasing electricals
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Ease of comparison and perceived cost savings driving online…
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • …but seeing products physically is still a major bonus for stores
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Argos remains most popular but Currys PC World is catching up fast
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Two in five purchased or used an aftersales product or service
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Price convergence
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Black Friday 2016: biggest yet but what does this mean for 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • What they bought and what they plan to buy
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Mobile phones continue to be the most popular purchase
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 214: Types of electrical products purchased in the past 12 months, November 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Trend data
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 215: Trend data: types of electrical products purchased in the past 12 months, November 2013-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Almost half of 16-24-year-olds purchased a mobile phone in the past year
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 216: Types of electrical products purchased in the past 12 months, by age, November 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Positive housing market driving appliance sales
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 217: Purchase of household appliances, by time spent in current home, November 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Repertoire of products purchased in the past year
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 218: Repertoire of products purchased in the past 12 months, November 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Over half of consumers plan to buy electrical goods in the next year
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 219: Planned purchase of electrical goods in the next 12 months, November 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • How they shop for electricals
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Online most used for electrical purchases
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 220: How electrical goods were purchased in the last 12 months, November 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • 25-44s are the main online buyers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 221: How electrical goods were purchased in the last 12 months, November 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Desktops/laptops the device of choice
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 222: Devices used to purchase electrical goods in the past year, November 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Young men the most likely to buy on their phone
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 223: Devices used to purchase electrical goods in the past year, November 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Why they prefer to shop online or in-store for electricals
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Price and ease of comparison drives shoppers online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 224: Why they prefer to shop online for electrical goods, November 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Greater emphasis on price-matching online competition
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Physical inspection still key for stores
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 225: Why they prefer to shop in-store for electricals, November 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Retailers used
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Argos comes out on top
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 226: Retailers used to purchase electrical goods in the past 12 months, either in-store or online, November 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Currys PC World’s strength is its stores, but is catching up online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 227: Retailers used to buy in-store or online, November 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Amazon and Argos’s broad appeal key to success
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 228: Retailers used for electrical goods purchasing in the past 12 months, by socio-economic group and age, November 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Whilst Currys is growing online, more needs to be done to appeal to online shoppers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 229: Retailer used to purchase electrical goods in the past 12 months, by how electrical goods have been purchased in the last 12 months, November 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Online users show a wider repertoire of stores used
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 230: Repertoire of retailers used to purchase goods in the last 12 months, by in-store and online, November 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Attitudes towards and usage of aftersales services/products and in-store demonstrations
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Retailers ramp up service offerings
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Two in five have purchased or used an aftersales product or service
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 231: Additional services/products purchased or taken out in the last 12 months, November 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Higher-cost items seeing greater uptake of add-ons
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 232: Additional services/products purchased or taken out in the last 12 months, by electrical products purchased in the last 12 months, November 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Specialists strong on add-ons
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 233: Additional services/products purchased or taken out in the last 12 months, by type of retailer used to purchase electrical goods in the last 12 months, November 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • But are consumers ready for it?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 234: Attitudes to in-store demonstrations and technology services, November 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Attitudes to pricing and new brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Frequent discount could be hitting price integrity
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 235: Attitudes to retailers pricing of electrical products, November 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Younger consumers more likely to be tempted by offers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 236: Agreement to statements relating to electrical retailers pricing, November 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Newer brands recognised for their value but concerns around reliability remain
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 237: Attitudes to new brands from emerging economies, November 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 238: Agreement to statements relating to new brands from emerging economies, November 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Black Friday 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 239: Black Friday 2016: purchasing and browsing behaviour, December 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Electrical purchasing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 240: Black Friday 2016 purchasing, December 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Growth in Black Friday electrical purchases
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 241: Purchase of electrical goods during Black Friday, by channel of purchase, December 2015 and 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Even split between gift and personal buying
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 242: Reasons for purchasing items during Black Friday 2016, by purchase, December 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Most shop around on Black Friday
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 243: Reasons for buying and behaviour during Black Friday 2016, December 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Electrical buyers more likely to seek out the best deals
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 244: Agreement to statements around reasons for buying on and behaviour during Black Friday 2016, by type of purchase made, December 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Most browsed but did not buy because nothing caught their eye
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 245: Reasons for browsing but not buying during Black Friday 2016, December 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Leading retailers – What you need to know
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Electrical spending increasingly moves online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Amazon gains share once more
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • ao.com continues to be the fastest growing specialist player
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Dixons Carphone looks to consolidate its stores
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Amazon scores highly on trust
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Leading specialists
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Store consolidation slows Dixons Carphone’s total growth
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Apple reopens flagship store
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • ao.com’s market leading growth
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 246: Leading specialists retailers of electrical goods: total net revenues, 2011-15
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 247: The leading specialist retailers, CAGR of net revenues, 2011-15
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Outlets and sales per outlet
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 248: The leading retailers of electrical goods, outlet numbers, 2011-15
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 249: Leading specialist retailers of electrical goods, annual sales per outlet, 2011-15
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Operating profits and margins
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 250: Leading specialist retailers of electrical goods, operating profits, 2011-15
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 251: Leading specialist retailers of electrical goods, operating margins, 2011-15
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Sales area and sales densities
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 252: Leading specialist retailers of electrical goods, estimated sales area, 2011-15
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 253: Leading specialist retailers of electrical goods, sales per square metre, 2011-15
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Leading non-specialists
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Amazon continues to lead the pack
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Sainsbury’s takes on Argos
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • John Lewis targets smart-home future
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Shop Direct maintains steady growth
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Grocers fall behind
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Lack of launches hits hardware sales at Game Digital
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 254: Leading non-specialist retailers’ sales of electronic goods (excluding VAT), 2012-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 255: The leading non-specialist retailers: CAGR in electrical goods sales, 2012-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Tesco’s shrinks non-convenience store estate
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • John Lewis continues to expand
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 256: Leading non-specialist retailers of electrical goods, outlet numbers, 2012-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Market shares
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 257: Estimated market shares of the leading specialist and non-specialist retailers of electrical goods, 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 258: Estimated market shares of the leading specialist and non-specialist retailers of electrical goods, 2014-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Mobile phone specialists
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • The market
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Mobile network connections
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 259: Estimated value of retail mobile network connections in the UK, 2011-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 260: Retail mobile subscription shares by provider, Q4 2015
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Network Providers - Retail key metrics
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 261: Estimated Store numbers of the big four network providers, 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 262: Leading network providers: Financials, 2013-15
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Carphone Warehouse
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 263: Carphone Warehouse: Key metrics, 2014-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Online now the preferred option for buying electricals
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Black Friday boosts online sales
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 264: Estimated online sales of electrical goods (including VAT), 2012-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 265: Leading online retailers’ estimated shares of online spending on electrical goods, 2016 (est)
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Space allocation summary
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 266: Leading electricals retailers, summary space allocation estimates, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Detailed space allocation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 267: Leading electricals retailers, detailed space allocation estimates, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 268: Leading electricals retailers, detailed space allocation estimates, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Electrical departments in supermarkets
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 269: Supermarkets: Electricals department as a percentage of total floor space, January 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Retail product mix
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Space allocation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 270: UK electricals retailers, space allocation, 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 271: Leading electricals retailers, Electricals space, 2015/16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Sales density
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 272: Leading electricals retailers, estimated sales densities by broad product area, 2015/16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Sales by broad product category
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 273: Leading electricals retailers, estimated sales by broad product area, 2015/16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Market shares
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 274: Leading electricals retailers, estimated market share by broad product area, 2015/16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Innovations and launch activity
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Smart apartments in-store and one-stop connected home solutions
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Experience stores
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 275: Dyson’s first UK flagship store in London, July 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • AO widens order fulfilment options
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Flexible store format
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 276: Carphone Warehouse flexible store format
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Advertising and marketing activity
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Total advertising spend up 2% year-on-year in 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 277: Recorded above-the-line, online display and direct mail total advertising expenditure by UK electrical retailers, 2012-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Dixons once again by far the sector’s biggest advertising spender
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 278: Leading UK retail advertisers of electrical products: recorded above-the-line, online display and direct mail total advertising expenditure, 2012-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • 56.3% of total advertising spend in 2016 was channelled through TV
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 279: Leading and total UK retail advertisers of electrical products: recorded above-the-line, online display and direct mail total advertising expenditure, by media type, 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Nielsen Ad Intel coverage
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Brand research
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • What you need to know
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Brand map
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 280: Attitudes towards and usage of selected brands, December 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Key brand metrics
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 281: Key metrics for selected brands, December 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Brand attitudes: John Lewis and Apple Stores worth paying more for
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 282: Attitudes, by brand, December 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Brand personality: Online pureplays the most vibrant and engaging brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 283: Brand personality – Macro image, December 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Currys PC World struggles to shake its negative associations
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 284: Brand personality – Micro image, December 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Brand analysis
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Amazon leads the way despite falling usage
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 285: User profile of Amazon, December 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • John Lewis’s premium image is worth paying more for
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 286: User profile of John Lewis, December 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Apple Stores popular with the affluent young
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 287: User profile of Apple Store, December 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • ao.com continues to grow its appeal
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 288: User profile of ao.com, December 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Argos appeals on price
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 289: User profile of Argos, December 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Currys PC World struggles to stand out
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 290: User profile of Currys PC World, December 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Carphone Warehouse elicits low levels of trust
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 291: User profile of Carphone Warehouse, December 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Appendix – Data sources, abbreviations and supporting information
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Data sources
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Financial definitions
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Sales per store, sales per square metre
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Exchange rates
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Abbreviations
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Consumer research methodology
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Brand research
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Brand map
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Appendix – Market size and forecast
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Forecast Methodology
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Mintel market size definitions
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Specialist sector size
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Amazon.com

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Marketplace is growing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Disruptive influence
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Does Amazon need stores?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Maturity beckoning?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Where next?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 292: Amazon.com Inc.: group financial performance, 2011/12-2015/16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Electricals sales
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 293: Amazon: estimated electricals sales in Europe, 2015-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Marketplace
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • AO World

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Broader variety of electrical products
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Enhanced online customer experience
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Increased brand awareness attracting new customers and driving repeat business
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Bolstering logistical infrastructure to better serve customers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • European operation to enter profitability in 2020
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 294: AO World Plc: group financial performance, 2011/12-2015/16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Apple Retail

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Over-reliance on the iPhone?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • A price rise too far?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • All about the image
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Worldwide
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 295: Apple Inc.: sales and operating profit, 2012-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Apple Retail UK
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 296: Apple Retail UK: group financial performance, 2011/12-2015/16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 297: Apple Retail UK: outlet data, 2011/12-2015/16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 298: Apple Retail: European stores, 2014-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Argos

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Early days, but the signs are promising
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Real-time delivery information and convenient product drop-off option for busy festive period
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • ‘Buy now’ price promise bolsters extended Black Friday promotion
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 299: Argos: group financial performance, 2011/12-2015/16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 300: Argos: outlet data, 2011/12-2015/16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Conrad Electronic

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Predictive analytics technology driving m-commerce sales
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • New delivery service
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Local techie support and troubleshooting service tool
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • The Internet of Things
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 301: Conrad Electronic (Germany): group financial performance, 2012-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 302: Conrad Electronic: outlet data, 2012-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Dixons Carphone

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Betting the house on connectivity
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Company plans to ‘redefine retail’ with pay-monthly membership scheme
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Cutting price out of the equation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • What next?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 303: Dixons Carphone: retail brands, by country, 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 304: Dixons Carphone: group financial performance, 2013/14-2015/16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 305: Dixons Carphone: outlet data, 2013/14-2015/16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 306: Dixons Carphone: store portfolio, 2015-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 307: Dixons Carphone: planned store closures, 2016/17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • E-Square

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • What it does
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Key figures
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Members
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 308: E-Square membership, 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Sales
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • ElectronicPartner

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Structural weaknesses
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Where next?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 309: Electronic Partner: Group sales performance, 2012-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Euronics International

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Bringing its members new and innovative products
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Brand communication
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Bolstering multi-channel proposition
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Services add value to physical stores
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 310: Euronics International: group sales performance, 2011-15
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 311: Euronics International: estimated outlet data, 2011-15
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Expert Europe

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • National network, local availability
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Strength in common branding is being eroded
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Increased focus on brand and product expertise and service…
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • …and online presence
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Where now?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 312: Expert Europe: group sales performance, 2012-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 313: Expert Europe: outlet data, 2012-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Fnac Darty Group

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Enlarged product offering to better compete with the likes of Amazon
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Enhanced multichannel offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Increased bargaining power to offer more competitive prices
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Shortcuts to aid electrical product consumers decision-making process
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 314: Fnac Darty: financial performance, pro forma, Q3 2016 and 1st nine months 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 315: Fnac Darty: store network, pro forma, 2015-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • HTM Group

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Pushing ahead with geographical expansion
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Increasing buying power
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Tapping into the potential of the connected home and connected commerce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 316: HTM Group: estimated sales, 2012-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 317: HTM Group: outlet data, 2012-16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Maplin Electronics

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Strengthening multichannel proposition with new returns solution
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Price reductions to bolster value-for-money positioning
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • New store format filled with new shopping experiences
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 318: Maplin Electronics Ltd: group financial performance, 2011-2015/16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 319: Maplin Electronics Ltd: outlet data, 2011-2015/16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Media-Saturn

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Looking for opportunities in rentals
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • The important of the connected home
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Services potential
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Digital stores
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Being proactive with innovation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Redcoon brought pureplay online expertise
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Where now?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 320: Media Markt/Saturn: group financial performance, 2011/12-2015/16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 321: Media Markt/Saturn: outlet data, 2011/12-2015/16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Retail offering

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                Companies Covered

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                To learn more about the companies covered in this report please contact us.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                Electrical Goods Retailing - Europe - February 2017

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                US $3,597.04 (Excl.Tax)