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Electrical Goods Retailing - Germany - February 2016

“When buying online consumers appreciate not just the low prices, but also how easy the whole process has been made. The store-based specialists have finally realised that they need to offer e-commerce to compete, but the winners will be those that effectively leverage the competitive advantage of their store networks and staff expertise, combining it with technology, both in-store and online, to enable customers to buy what they want, when they want, how they want.”
– Thomas Slide, Retail Analyst

This report examines the following areas:

  • Closing the loop on the customer journey
  • Amazon is raising the bar for customer expectations

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Table of contents

  1. Overview

    • What you need to know
      • Areas covered in this report
      • Executive Summary

          • The market
            • Spending and inflation
              • Figure 1: Germany: Annual % change in total household expenditure and expenditure on electrical goods, 2011-15
              • Figure 2: Germany: Consumer prices, annual % change, 2011-15
            • Channels of distribution
              • Figure 3: Germany: Estimated distribution of spending on electrical goods, 2015
            • Sector size and forecast
              • Figure 4: Germany: Annual % change in all retail sales (excl fuel) and electrical specialists sales, 2010-15
            • Leading players
              • Key metrics
                • Market shares
                  • Figure 5: Germany: Leading specialist electrical goods retailers, % share of total spending on electricals, 2014-15
                • Online
                  • The consumer
                    • Where they shop
                      • Figure 6: Germany: Where they bought electrical goods in the last 12 months, in-store versus online/catalogue, January 2016
                    • Levels of satisfaction
                      • Figure 7: Germany: Levels of satisfaction with last electricals retailer purchased from, January 2016
                    • What we think
                    • Issues and Insights

                      • Closing the loop on the customer journey
                        • The facts
                          • The implications
                            • Amazon is raising the bar for customer expectations
                              • The facts
                                • The implications
                                • The Market – What You Need to Know

                                  • Consumer spending up but electricals not keeping pace
                                    • Audio-Visual spending down
                                      • Inflation at its lowest level since 2009
                                        • Channels of distribution
                                          • Sector size and forecast
                                          • Spending and Inflation

                                            • Consumer spending drives economic growth
                                              • Spending on electricals not keeping up
                                                • Figure 8: Germany: Consumer spending on electrical items (Incl. VAT), 2010-15
                                              • Inflation
                                                • Figure 9: Germany: Consumer prices, annual % change, 2011-15
                                                • Figure 10: Germany: Consumer price inflation on electrical items, annual % change, July 2014-Dec 2015
                                              • Unit volumes
                                                • Figure 11: Germany: Main electricals market, unit volumes, 2011-19
                                            • Channels of Distribution

                                              • Online pureplays continue to grow
                                                  • Figure 12: Germany: Estimated distribution of spending on electrical goods, 2013-15
                                              • Sector Size and Forecast

                                                • Specialists catching up with non-specialists
                                                  • Figure 13: Germany: Electricals retailers sales, excl. VAT, 2010-15
                                                  • Figure 14: Germany: Electricals retailers sales, Forecasts, excl. VAT, 2015-20
                                                  • Figure 15: Germany: Electrical specialists’ sales as a share of total spending on electricals, 2010-15
                                              • Leading Players – What You Need to Know

                                                • Media Markt/Saturn continues to dominate
                                                  • Buying groups maintain their popularity
                                                    • Market shares
                                                      • Online sales
                                                        • Amazon dominates online
                                                        • Leading Players

                                                          • Media Markt/Saturn is the dominant specialist
                                                            • Buying groups remain popular
                                                              • Telefonica’s acquisition of E-Plus increases its handset sales
                                                                • Figure 16: Germany: Leading specialist electrical retailers sales, 2013-15
                                                                • Figure 17: Germany: Leading electrical retailers, outlets, 2013-15
                                                              • Sales per outlet
                                                                • Figure 18: Germany: Leading electrical retailers: Estimated sales per outlet, 2013-15
                                                            • Market Shares

                                                              • Media Markt/Saturn grows its market share
                                                                • Figure 19: Germany: Leading electrical retailers, market shares, 2013-15
                                                            • Online

                                                              • Online activity
                                                                • Figure 20: France: Online buyers in last 12 months of electrical items, 2011-15
                                                              • Online sales
                                                                • Leading online players
                                                                  • Figure 21: Germany: Where they bought electrical goods online in the last 12 months, January 2016
                                                              • The Consumer – What You Need to Know

                                                                • Almost three-quarters bought from a specialist
                                                                  • Amazon and Media Markt dominate the sector
                                                                    • Specialists remain a long way behind online
                                                                      • Consumers are satisfied with prices and products
                                                                        • Less satisfied with service
                                                                          • Amazon customers are most satisfied
                                                                          • Who is Buying?

                                                                            • Men more likely to buy than women
                                                                              • Figure 22: Germany: Purchasing of electrical goods in the last 12 months, by gender, January 2016
                                                                            • A broad appeal but most popular amongst the young
                                                                              • Figure 23: Germany: Purchasing of electrical goods in the last 12 months, by age, January 2016
                                                                          • Where They Shop for Electrical Goods

                                                                            • Media Markt/Saturn and Amazon dominate the sector
                                                                              • Grocery stores a long way behind
                                                                                • Figure 24: Germany: Where they bought electrical goods in the last 12 months, January 2016
                                                                              • Specialists remain a long way behind online
                                                                                • Figure 25: Germany: Where they bought electrical goods in the last 12 months, in-store versus online/catalogue, January 2016
                                                                              • Customer profiles
                                                                                • Figure 26: Germany: Where they bought electrical goods, by age and income, January 2016
                                                                            • Levels of Satisfaction

                                                                                • Consumers are happy with quality, price and range
                                                                                  • More work to do on offering service
                                                                                    • Figure 27: Germany: Levels of satisfaction with last electricals retailer purchased from, January 2016
                                                                                  • Satisfaction with specific retailers
                                                                                    • Media Markt/Saturn
                                                                                      • Figure 28: Germany: Those agreeing they were satisfied at MediaMarkt/Saturn relative to electrical retailer average, January 2016
                                                                                    • Amazon
                                                                                        • Figure 29: Germany: Those agreeing they were satisfied at Amazon relative to electrical retailer average,
                                                                                      • Specialist Retailers (excluding Media Markt/Saturn)
                                                                                        • Figure 30: Germany: Those agreeing they were satisfied at any specialist retailer (excluding MediaMarkt/Saturn relative to electrical retailer average, January 2016
                                                                                      • Any non-specialist
                                                                                        • Figure 31: Germany: Those agreeing they were satisfied at any non-specialist relative to electrical retailer average, January 2016
                                                                                    • Amazon Europe

                                                                                        • What we think
                                                                                          • An evolving offer
                                                                                            • Amazon Prime extends its breadth and reach
                                                                                              • A sense of occasion
                                                                                                • Product development continues
                                                                                                  • Delivery gets quicker, but pushes fulfilment costs higher
                                                                                                    • Click & Collect points limited to US universities
                                                                                                      • Looking ahead
                                                                                                        • Company background
                                                                                                          • Company performance
                                                                                                            • Growth slows in Europe
                                                                                                              • Figure 32: Amazon.com Inc: Group financial performance, 2010-15
                                                                                                            • Sales mix
                                                                                                              • Figure 33: Amazon: Composition of net sales, 2015
                                                                                                            • Retail offering
                                                                                                            • AO World

                                                                                                                • What we think
                                                                                                                  • Launching in the Netherlands…
                                                                                                                    • …and possibly Austria
                                                                                                                      • Collect+ deal widens delivery options
                                                                                                                        • Enhanced website features
                                                                                                                          • Expanding audio visual product offering
                                                                                                                            • AO.de sales progressing satisfactorily, but requiring big investment
                                                                                                                              • Company background
                                                                                                                                • Company performance
                                                                                                                                    • Figure 34: AO World Plc: Group financial performance, 2011/12-2014/15
                                                                                                                                  • Retail offering
                                                                                                                                  • Apple Retail

                                                                                                                                      • What we think
                                                                                                                                        • It’s all about the iPhone
                                                                                                                                          • The importance of innovation
                                                                                                                                            • Apple stores an important to success of the brand
                                                                                                                                              • Company background
                                                                                                                                                • Company performance
                                                                                                                                                  • Worldwide
                                                                                                                                                    • Figure 35: Apple Retail: sales and operating profit, 2011-15
                                                                                                                                                    • Figure 36: Apple Retail: Outlet data, 2010/11-2016
                                                                                                                                                  • Apple Retail UK
                                                                                                                                                    • Figure 37: Apple Retail UK: Group financial performance, 2009/10-2014/15
                                                                                                                                                    • Figure 38: Apple Retail UK: Outlet data, 2010/11-2016
                                                                                                                                                    • Figure 39: Apple Retail: European stores, 2014-16
                                                                                                                                                  • Retail offering
                                                                                                                                                  • Conrad Electronic

                                                                                                                                                      • What we think
                                                                                                                                                        • New service concept
                                                                                                                                                          • Meeting increased online and retail store demand
                                                                                                                                                            • B2B push on back of small business reputation
                                                                                                                                                              • Company background
                                                                                                                                                                • Company performance
                                                                                                                                                                  • Figure 40: Conrad Electronic Germany: Group financial performance, 2010-15
                                                                                                                                                                  • Figure 41: Conrad Electronic: Outlet data, 2010-15
                                                                                                                                                                • Retail offering
                                                                                                                                                                • E-Square

                                                                                                                                                                    • What we think
                                                                                                                                                                      • Weaknesses
                                                                                                                                                                        • Other businesses
                                                                                                                                                                          • Company background
                                                                                                                                                                            • E-Square
                                                                                                                                                                              • Electronic Partner
                                                                                                                                                                                • E-Square members
                                                                                                                                                                                  • Figure 42: E-Square members, 2015
                                                                                                                                                                                • Company performance
                                                                                                                                                                                  • Figure 43: E-Square: Estimated retail sales, 2011-15
                                                                                                                                                                                  • Figure 44: E-Square: Members’ approximate store numbers, by country/region, 2011-15
                                                                                                                                                                                • Germany
                                                                                                                                                                                  • Other Germany
                                                                                                                                                                                    • Denmark
                                                                                                                                                                                      • Finland
                                                                                                                                                                                        • France
                                                                                                                                                                                          • Greece
                                                                                                                                                                                            • Italy
                                                                                                                                                                                              • Portugal
                                                                                                                                                                                                • Spain
                                                                                                                                                                                                  • UK
                                                                                                                                                                                                    • Ukraine
                                                                                                                                                                                                      • Kazakhstan
                                                                                                                                                                                                      • Euronics International

                                                                                                                                                                                                          • What we think
                                                                                                                                                                                                            • Company background
                                                                                                                                                                                                              • Company performance
                                                                                                                                                                                                                  • Figure 45: Euronics International: Group financial performance, 2010-14
                                                                                                                                                                                                                  • Figure 46: Euronics International: Outlet data, 2010-14
                                                                                                                                                                                                                • Euronics membership
                                                                                                                                                                                                                  • Figure 47: Euronics: Members, countries and trading names, 2016
                                                                                                                                                                                                              • Expert Europe

                                                                                                                                                                                                                  • What we think
                                                                                                                                                                                                                    • The up-sides
                                                                                                                                                                                                                      • The downsides
                                                                                                                                                                                                                        • Company background
                                                                                                                                                                                                                          • Online
                                                                                                                                                                                                                            • Figure 48: Expert International, online shopping availability, 2016
                                                                                                                                                                                                                          • Company performance
                                                                                                                                                                                                                            • Figure 49: Expert Europe: Estimated sales at retail, excl. VAT, 2011-15
                                                                                                                                                                                                                            • Figure 50: Expert Europe: Outlet data, 2011-15
                                                                                                                                                                                                                          • Expert Germany
                                                                                                                                                                                                                            • Expert Italy
                                                                                                                                                                                                                              • Expert Spain
                                                                                                                                                                                                                                • Expert France
                                                                                                                                                                                                                                  • Retail offering
                                                                                                                                                                                                                                    • Store formats
                                                                                                                                                                                                                                    • Media-Saturn

                                                                                                                                                                                                                                        • What we think
                                                                                                                                                                                                                                          • Increasing the channels to market
                                                                                                                                                                                                                                            • Adding new store concepts
                                                                                                                                                                                                                                              • Market-leading delivery services
                                                                                                                                                                                                                                                • Encouraging innovation
                                                                                                                                                                                                                                                  • Company background
                                                                                                                                                                                                                                                    • Company performance
                                                                                                                                                                                                                                                        • Figure 51: Media Markt/Saturn: Group financial performance, 2010/11-2014/15
                                                                                                                                                                                                                                                        • Figure 52: Media Markt/Saturn: Outlet data, 2010/11-2014/15
                                                                                                                                                                                                                                                      • Retail offering
                                                                                                                                                                                                                                                      • Appendix – Data Sources, Abbreviations and Supporting Information

                                                                                                                                                                                                                                                        • Abbreviations
                                                                                                                                                                                                                                                          • Data sources

                                                                                                                                                                                                                                                          Companies Covered

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

                                                                                                                                                                                                                                                          Electrical Goods Retailing - Germany - February 2016

                                                                                                                                                                                                                                                          £995.00 (Excl.Tax)