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Electrical Goods Retailing - Spain - February 2017

“Consumer confidence is recovering in Spain and spending on discretionary products continues to rise. However, the specialist electrical retailers are losing share of the electrical goods market. Leading specialist, Media Markt’s strong performance continues to contrast the overall trend, driven by the retailer’s continued investment in both in-store and online operations. This confirms that there is a place for the specialists and there is an opportunity for them to re-establish their position in the market making the most of their expertise and innovative store concepts.”
– Samantha Dover, Retail Analyst

For our consumer research this year we asked questions on the following topics:

  • Which electricals products had been purchased over the last year
  • How consumers are shopping: in-store or online
  • Which retailers had been used for electricals shopping
  • Reasons for shopping online or in-store.

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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: Spain: consumer price inflation, annual % change, 2010-16
            • Channels of distribution
              • Figure 2: Spain: estimated distribution of spending on electricals goods, 2016
            • Sector size and forecast
              • Figure 3: Spain: annual % change in all retail sales (excl. fuel) and electrical goods specialists’ retail sales, 2011-16
            • Leading players
              • Key metrics
                • Market shares
                  • Figure 4: Spain: leading specialist electrical retailers: estimated shares of spending on electricals items, 2016
                • Online
                  • The consumer
                    • What electricals they buy
                      • Figure 5: Spain: types of electrical products purchased, January 2017
                    • Where they shop for electricals
                      • Figure 6: Spain: where they shop for electricals, whether online or in-store, January 2017
                    • Online vs offline
                      • Figure 7: 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 8: Spain: consumer spending on electrical items (incl. VAT), 2012-16
                                              • Inflation
                                                • Figure 9: Spain: consumer prices, annual % change, 2012-16
                                                • Figure 10: Spain: consumer price inflation on electrical items, annual % change, July 2015-December 2016
                                            • Product Market Breakdown

                                                • Figure 11: Spain: main electricals markets, volume sales, 2012-16
                                                • Figure 12: Spain: main electricals markets, volume sales forecasts, 2016-20
                                            • Channels of Distribution

                                              • Specialists dominate, but losing share
                                                • Figure 13: Spain: estimated distribution of spending on electrical goods, 2014-16
                                            • Sector Size and Forecast

                                              • Electricals specialists growth set to slow
                                                • Figure 14: Spain: electricals specialists’ sales, excl VAT, 2011-16
                                                • Figure 15: 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 16: Spain: leading specialist electrical retailers, sales, 2012-16
                                                            • Figure 17: Spain: leading specialist electrical retailers, outlets, 2012-16
                                                            • Figure 18: Spain: leading specialist electrical retailers, estimated sales per outlet, 2012-16
                                                        • Market Shares

                                                            • Figure 19: Spain: leading specialist electrical retailers, shares of spending on electricals items, 2014-16
                                                        • Online

                                                          • Online activity and device usage
                                                            • Shopping online
                                                              • Figure 20: Spain: online buyers in last 12 months, by country, 2007-16
                                                              • Figure 21: Spain: online buyers of electrical items in last 12 months, 2007-16
                                                            • Online retail sales
                                                              • Electricals shopping: in-store vs online
                                                                • Figure 22: Spain: how they shop for electrical products, in-store vs online, January 2016
                                                              • Leading online players
                                                                  • Figure 23: 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 24: Spain: types of electrical products purchased, January 2017
                                                                          • Men continue to drive purchasing
                                                                            • Figure 25: Spain: types of electrical products purchased, by gender, January 2017
                                                                          • Young people more tech-focused
                                                                            • Figure 26: Spain: types of electrical products purchased, by age, January 2017
                                                                          • Technology ownership
                                                                            • Figure 27: Spain: technology products personally owned, Q1 2016
                                                                        • How They Shop for Electricals – Online vs In-Store

                                                                          • In-store vs online shopping
                                                                            • Figure 28: Spain: how they shop for electricals, in-store vs online, January 2017
                                                                          • Men more likely to shop online
                                                                            • Figure 29: Spain: how they shop for electricals, in-store vs online, by gender, January 2017
                                                                          • Online purchasing peaks amongst older Millennials
                                                                            • Figure 30: 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 31: 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 32: Spain: where they shop for electricals, whether in-store or online, January 2017
                                                                          • Fnac online offer popular
                                                                            • Figure 33: Spain: where consumers shop for electricals, by channel, January 2017
                                                                          • Apple attracts young and affluent shoppers
                                                                            • Figure 34: Spain: profile of those who bought either in-store or online, by retailer used, January 2017
                                                                          • Prices are perceived as lower online
                                                                            • Figure 35: Spain: reasons for shopping for electricals online, January 2017
                                                                          • Leading retailers attract shoppers with broad online assortment
                                                                            • Figure 36: Spain: reasons for shopping for electricals online, by retailer used: Media Markt, January 2017
                                                                            • Figure 37: Spain: reasons for shopping for electricals online, by retailer used: Amazon, January 2017
                                                                          • In-store experience is important
                                                                            • Figure 38: Spain: reasons for shopping for electricals in-store, January 2017
                                                                          • Department stores’ in-store customer service stands out
                                                                            • Figure 39: Spain: reasons for shopping for electricals in-store, by retailer used, January 2017
                                                                        • Appendix – Data Sources, Abbreviations and Supporting Information

                                                                          • Abbreviations
                                                                            • Data sources
                                                                            • Amazon.com

                                                                                • What we think
                                                                                  • Marketplace is growing
                                                                                    • Disruptive influence
                                                                                      • Does Amazon need stores?
                                                                                        • Maturity beckoning?
                                                                                          • Where next?
                                                                                            • Company background
                                                                                              • Company performance
                                                                                                • Figure 40: Amazon.com Inc.: group financial performance, 2011/12-2015/16
                                                                                              • Electricals sales
                                                                                                • Figure 41: Amazon: estimated electricals sales in Europe, 2015-16
                                                                                              • Marketplace
                                                                                                • 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 42: Apple Inc.: sales and operating profit, 2012-16
                                                                                                                • Apple Retail UK
                                                                                                                  • Figure 43: Apple Retail UK: group financial performance, 2011/12-2015/16
                                                                                                                  • Figure 44: Apple Retail UK: outlet data, 2011/12-2015/16
                                                                                                                  • Figure 45: Apple Retail: European stores, 2014-17
                                                                                                                • 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 46: Dixons Carphone: retail brands, by country, 2017
                                                                                                                              • Company performance
                                                                                                                                • Figure 47: Dixons Carphone: group financial performance, 2013/14-2015/16
                                                                                                                                • Figure 48: Dixons Carphone: outlet data, 2013/14-2015/16
                                                                                                                                • Figure 49: Dixons Carphone: store portfolio, 2015-16
                                                                                                                                • Figure 50: Dixons Carphone: planned store closures, 2016/17
                                                                                                                              • Retail offering
                                                                                                                              • E-Square

                                                                                                                                  • What it does
                                                                                                                                    • Company background
                                                                                                                                      • Key figures
                                                                                                                                        • Members
                                                                                                                                          • Figure 51: E-Square membership, 2016
                                                                                                                                        • Sales
                                                                                                                                        • 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 52: Euronics International: group sales performance, 2011-15
                                                                                                                                                          • Figure 53: 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 54: Expert Europe: group sales performance, 2012-16
                                                                                                                                                                            • Figure 55: 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 56: Fnac Darty: financial performance, pro forma, Q3 2016 and 1st nine months 2016
                                                                                                                                                                                              • Figure 57: Fnac Darty: store network, pro forma, 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 58: Media Markt/Saturn: group financial performance, 2011/12-2015/16
                                                                                                                                                                                                                    • Figure 59: 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 - Spain - February 2017

                                                                                                                                                                                                                  US $1,236.29 (Excl.Tax)