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Online Retailing - Europe - July 2018

“Online is growing fast and it will continue to do so.  It is still immature, even in the more developed countries, such as the UK and Germany, and in many sectors, especially fashion, the established store-based players have yet to mount an effective counter attack.  But the example of the books sector shows that there will be a limit to the growth of online, though we will not try to guess what that will be.”

- Richard Perks, Director of Retail

This report will look at the following areas:

  • How many bought online?
  • What they buy online
  • Where they shop online
  • Important features of online retailers
  • Membership of Amazon Prime

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Table of contents

  1. Overview

    • Coverage
      • Consumer research
        • Market definition
          • Market sizes
            • Methodology
              • Financial definitions
                • VAT rates
                  • Figure 1: VAT rates around Europe, 2013-18
                • Abbreviations
                • Executive Summary – Europe – The Market

                    • Online sales
                      • The data
                        • Retail
                          • Continued growth
                            • Online sales estimates
                              • Pan-European online sales
                                • Figure 2: Europe: total online retail sales (inc VAT), 2010-23
                                • Figure 3: Europe: total online retail sales (inc VAT) as % all retail sales (excluding fuel), 2010-23
                              • Online sales by country
                                • Figure 4: Europe: online sales, by country, including VAT, 2013-17
                                • Figure 5: Europe: forecast online sales, including VAT, by country, 2018-23
                              • Stage of development
                                • Figure 6: Europe: online sales as % all retail sales, excluding fuel, 2017
                              • Leading retailers
                                • Amazon and eBay
                                  • Other marketplaces
                                    • AliExpress
                                      • Former mail order companies
                                        • Fashion
                                          • Figure 7: Europe: leading online retailers, sales, excluding VAT, 2015/16-2017/18
                                        • Market shares
                                          • Figure 8: Europe: leading online retailers’ shares’ of all online sales, 2015-17
                                        • What we think
                                        • Executive Summary – Europe – The Consumer

                                            • How many bought online?
                                                • Figure 9: Europe: proportion of adults who have bought online in the last 12 months, 2017
                                              • What they buy online
                                                  • Figure 10: Europe: products purchased online in the last 12 months, May 2018
                                                • Where they shop online
                                                  • Figure 11: Europe: retailers bought from online in the last 12 months, by type, May 2018
                                                  • Figure 12: Europe: proportion of online shoppers who have shopped at Amazon in the last 12 months, May 2018
                                                • Important features of online retailers
                                                  • Figure 13: Europe: important features of retailers when shopping online, May 2018
                                                  • Figure 14: Europe: key factors ranked by country, May 2017
                                                • Membership of Amazon Prime
                                                    • Figure 15: Europe: Amazon prime membership, May 2018
                                                • Executive Summary – Europe - Launch Activity and Innovation

                                                  • Zalando establishing itself as the go-to destination for fashion and lifestyle products
                                                    • Otto and Zara roll out augmented reality experiences
                                                      • Home delivery while the customer is away
                                                        • Collaborative delivery platforms
                                                          • National online event days
                                                            • Autonomous digital grocery shopping store
                                                              • Figure 16: LateBird artists impression, June 2018
                                                              • Figure 17: LateBird, inside artists impression, June 2018
                                                            • New text-based personal shopping service
                                                              • Live streaming
                                                                • Local online marketplaces
                                                                  • Parcel collection at the press of a button
                                                                  • France

                                                                    • Overview
                                                                      • What you need to know
                                                                        • Areas covered in this report
                                                                          • Executive summary
                                                                            • The market
                                                                              • The economy
                                                                                • Online sales
                                                                                  • Figure 18: France: online sales (including VAT), 2011-23
                                                                                • Segmentation/What they buy online
                                                                                  • Broadband access
                                                                                    • Device ownership and internet access
                                                                                      • Online shopping
                                                                                        • Leading players
                                                                                          • Key metrics
                                                                                            • Market shares
                                                                                              • Figure 19: France: leading online retailers’ shares of all online sales, 2017
                                                                                            • The consumer
                                                                                              • What they buy online
                                                                                                • Figure 20: France: products purchased online in the last 12 months, May 2018
                                                                                              • Where they shop online
                                                                                                • Figure 21: France: retailers bought from online in the last 12 months, May 2018
                                                                                              • Important features of online retailers
                                                                                                • Figure 22: France: important features of retailers when shopping online, May 2018
                                                                                              • Membership of Amazon Prime
                                                                                                • What we think
                                                                                                  • Issues and insights
                                                                                                    • The future of online grocery in France
                                                                                                      • The facts
                                                                                                        • The implications
                                                                                                          • Can French retailers stand up to Amazon?
                                                                                                            • The facts
                                                                                                              • The implications
                                                                                                                • The market - What you need to know
                                                                                                                  • Economy recovering
                                                                                                                    • Online stabilising
                                                                                                                      • Electricals and clothing are biggest online markets
                                                                                                                        • Broadband access relatively low
                                                                                                                          • Accessing internet on smartphone increasingly common
                                                                                                                            • Two-thirds of French adults had bought online
                                                                                                                              • Market size
                                                                                                                                • The economy
                                                                                                                                    • Figure 23: France: online sales (incl. VAT), 2013-18
                                                                                                                                    • Figure 24: France: forecast online sales (incl VAT), 2018-23
                                                                                                                                  • More details from FEVAD
                                                                                                                                    • Segmentation/What they buy online
                                                                                                                                      • Figure 25: France: products purchased online in the last 12 months, May 2018
                                                                                                                                      • Figure 26: France: online sales: selected retail categories, 2015-16
                                                                                                                                    • Grocery
                                                                                                                                      • DIY
                                                                                                                                        • Beauty and Personal Care
                                                                                                                                          • Electricals
                                                                                                                                            • Clothing
                                                                                                                                              • Market drivers
                                                                                                                                                • Broadband access
                                                                                                                                                  • Figure 27: France: broadband penetration, % all households, 2010-17
                                                                                                                                                • Device ownership and internet access
                                                                                                                                                  • Figure 28: France: technology products personally owned, Q3 2017
                                                                                                                                                  • Figure 29: France: devices used to access the internet in the last three months, Q3 2017
                                                                                                                                                • Online shopping
                                                                                                                                                  • Figure 30: France: percentage saying they have bought online in the last year, 2008-17
                                                                                                                                                • Leading players – What you need to know
                                                                                                                                                  • The march of Amazon continues
                                                                                                                                                    • Drive dominates grocery
                                                                                                                                                      • Casino upping the ante
                                                                                                                                                        • Carrefour is ambitious too
                                                                                                                                                          • Physical/online tie-ups
                                                                                                                                                            • Amazon takes 16.5% of the market
                                                                                                                                                              • Leading players
                                                                                                                                                                • Amazon continues to grow
                                                                                                                                                                  • Local retailers fight back
                                                                                                                                                                    • Drive dominates grocery
                                                                                                                                                                      • Home delivery the next battleground
                                                                                                                                                                        • Physical/online tie-ups
                                                                                                                                                                          • Marketplaces
                                                                                                                                                                            • Carrefour’s ambitions
                                                                                                                                                                                • Figure 31: France: leading online retailers, sales, 2015-17
                                                                                                                                                                              • Website visitors
                                                                                                                                                                                • Figure 32: France: top retail sites by number of unique visitors, Jan-March 2018
                                                                                                                                                                              • Market shares
                                                                                                                                                                                • Figure 33: France: leading online retailers’ estimated shares of all online sales, 2017
                                                                                                                                                                              • The consumer – What you need to know
                                                                                                                                                                                • Clothing the most shopped for online
                                                                                                                                                                                  • Online-only retailers ahead
                                                                                                                                                                                    • French shoppers want free returns and free delivery
                                                                                                                                                                                      • Amazon Prime has room to grow
                                                                                                                                                                                        • What they buy online?
                                                                                                                                                                                          • Figure 34: France: products purchased online in the last 12 months, May 2018
                                                                                                                                                                                        • Broad spectrum shops online
                                                                                                                                                                                          • Figure 35: France: profile of shoppers by products bought online in the last 12 months, May 2018
                                                                                                                                                                                          • Figure 36: France: products purchased online in the last 12 months by gender, May 2018
                                                                                                                                                                                        • Where they shop online
                                                                                                                                                                                          • Amazon dominates, but less than in other countries
                                                                                                                                                                                            • Over half shop at store-based retailers
                                                                                                                                                                                              • Grocers are popular
                                                                                                                                                                                                • Figure 37: France: retailers bought from online in the last 12 months, May 2018
                                                                                                                                                                                                • Figure 38: France: profile of shoppers by retailer bought from online in the last 12 months, May 2018
                                                                                                                                                                                              • Where they shop and what they bought
                                                                                                                                                                                                • Figure 39: France: Amazon vs Cdiscount: relative strength by product, May 2018
                                                                                                                                                                                                • Figure 40: France: Fnac vs Darty: relative strength by product, May 2018
                                                                                                                                                                                              • Important features of online retailers
                                                                                                                                                                                                • Freebies please
                                                                                                                                                                                                  • Click and collect
                                                                                                                                                                                                    • Figure 41: France: important features of retailers when shopping online, % agreeing “extremely important” May 2018
                                                                                                                                                                                                  • Important features by what they buy
                                                                                                                                                                                                    • Free delivery and returns especially important for clothing shoppers
                                                                                                                                                                                                      • Figure 42: France: extremely important features of online retailers, fashion shoppers compared to the average, May 2018
                                                                                                                                                                                                    • For grocery free delivery and low prices are extremely important.
                                                                                                                                                                                                      • Figure 43: France: extremely important features of online retailers, grocery shoppers compared to the average, May 2018
                                                                                                                                                                                                    • Price more important for shoppers of goods for the home
                                                                                                                                                                                                      • Figure 44: France: online shoppers describing ‘low prices’ as an ‘extremely important’ feature of an online retailer, percentage point difference from the average, May 2018
                                                                                                                                                                                                      • Figure 45: France: online shoppers describing ‘a wide range of products’ as an ‘extremely important’ feature of an online retailer, percentage point difference from the average, May 2018
                                                                                                                                                                                                    • Membership of Amazon Prime
                                                                                                                                                                                                      • Lowest membership of the big five countries
                                                                                                                                                                                                        • Figure 46: France: membership of Amazon Prime, May 2018
                                                                                                                                                                                                      • Young men most likely to be Prime members
                                                                                                                                                                                                        • Figure 47: France: current members of Amazon Prime, by age and gender, May 2018
                                                                                                                                                                                                      • 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
                                                                                                                                                                                                                      • The economy
                                                                                                                                                                                                                        • Online sales
                                                                                                                                                                                                                          • Segmentation/what they buy online
                                                                                                                                                                                                                            • Figure 49: Germany: online sales by product category, 2017
                                                                                                                                                                                                                          • Broadband access
                                                                                                                                                                                                                            • Leading players
                                                                                                                                                                                                                              • Key metrics
                                                                                                                                                                                                                                • Figure 50: Germany: leading online retailers’ shares of online sales, 2017
                                                                                                                                                                                                                              • The consumer
                                                                                                                                                                                                                                • What they buy online
                                                                                                                                                                                                                                  • Figure 51: Germany: products purchased online in the last 12 months, May 2018
                                                                                                                                                                                                                                • Where they shop online
                                                                                                                                                                                                                                  • Figure 52: Germany: retailers bought from online in the last 12 months, May 2018
                                                                                                                                                                                                                                • Important features of online retailers
                                                                                                                                                                                                                                  • Figure 53: Germany: important features of retailers when shopping online, May 2018
                                                                                                                                                                                                                                • Membership of Amazon Prime
                                                                                                                                                                                                                                  • Figure 54: Germany: membership of Amazon Prime, May 2018
                                                                                                                                                                                                                                • What we think
                                                                                                                                                                                                                                  • Issues and insights
                                                                                                                                                                                                                                    • Is now the time for multichannel retailers?
                                                                                                                                                                                                                                      • The facts
                                                                                                                                                                                                                                        • The implications
                                                                                                                                                                                                                                          • Grocery e-commerce – an update
                                                                                                                                                                                                                                            • The facts
                                                                                                                                                                                                                                              • The implications
                                                                                                                                                                                                                                                • The market - What you need to know
                                                                                                                                                                                                                                                  • German economy continues to grow
                                                                                                                                                                                                                                                    • Online sales grow 10.9%
                                                                                                                                                                                                                                                      • Clothing and electronics are the biggest categories
                                                                                                                                                                                                                                                        • Broadband access hits 92%
                                                                                                                                                                                                                                                          • 84% of German consumers own a smartphone
                                                                                                                                                                                                                                                            • Three-quarters of Germans shop online
                                                                                                                                                                                                                                                              • Market size
                                                                                                                                                                                                                                                                • The economy
                                                                                                                                                                                                                                                                  • Online sales and forecasts
                                                                                                                                                                                                                                                                    • Figure 55: Germany: online sales (incl VAT), 2013-18
                                                                                                                                                                                                                                                                    • Figure 56: Germany: online sales (incl VAT), forecasts, 2018-23
                                                                                                                                                                                                                                                                  • Segmentation/What they buy online
                                                                                                                                                                                                                                                                    • Clothing and electronics account for half of online spending
                                                                                                                                                                                                                                                                      • Food still underrepresented despite growth
                                                                                                                                                                                                                                                                          • Figure 57: Germany: online sales by product category, incl VAT, 2017
                                                                                                                                                                                                                                                                        • Household goods the fastest growing category
                                                                                                                                                                                                                                                                          • Could books be the first category to reach online maturity?
                                                                                                                                                                                                                                                                            • Figure 58: Germany: growth in online spending by product category, 2016-17
                                                                                                                                                                                                                                                                          • Market drivers
                                                                                                                                                                                                                                                                            • Broadband access hits 92%
                                                                                                                                                                                                                                                                              • Figure 59: Germany: broadband penetration, % all households, 2008-17
                                                                                                                                                                                                                                                                            • 84% own a smartphone
                                                                                                                                                                                                                                                                              • Figure 60: Germany: technology products personally owned, Q3 2017
                                                                                                                                                                                                                                                                            • PC still the most popular way to access the internet
                                                                                                                                                                                                                                                                              • Figure 61: Germany: devices used to access the internet in the last three months, Q3 2017
                                                                                                                                                                                                                                                                            • Migration online continues
                                                                                                                                                                                                                                                                              • Figure 62: Germany: percentage saying they have bought online in the last year, 2013-17
                                                                                                                                                                                                                                                                            • Leading players – What you need to know
                                                                                                                                                                                                                                                                              • Amazon’s domination continues
                                                                                                                                                                                                                                                                                • eBay is now the slowest growing of the leading online players
                                                                                                                                                                                                                                                                                  • Ceconomy enjoys strong growth away from Metro Group
                                                                                                                                                                                                                                                                                    • Amazon continues to grow its share of the market
                                                                                                                                                                                                                                                                                      • Leading players
                                                                                                                                                                                                                                                                                        • Amazon’s continues to dominate
                                                                                                                                                                                                                                                                                          • eBay the slowest growing of the leading online players
                                                                                                                                                                                                                                                                                            • Otto Group sales boosted by launch of marketplace
                                                                                                                                                                                                                                                                                              • Zalando keeps on growing
                                                                                                                                                                                                                                                                                                • Ceconomy sees strong growth away from Metro Group
                                                                                                                                                                                                                                                                                                  • Figure 63: Germany: leading online retailers, sales, 2015-17
                                                                                                                                                                                                                                                                                                • Market shares
                                                                                                                                                                                                                                                                                                  • Diverging fortunes for the American giants
                                                                                                                                                                                                                                                                                                    • Figure 64: Germany: leading online retailers’ shares of all online sales, 2015-17
                                                                                                                                                                                                                                                                                                  • The consumer – What you need to know
                                                                                                                                                                                                                                                                                                    • Clothing the most popular online purchase
                                                                                                                                                                                                                                                                                                      • Amazon dominates German e-commerce
                                                                                                                                                                                                                                                                                                        • Free returns are the most important feature
                                                                                                                                                                                                                                                                                                          • 31% are members of Amazon Prime
                                                                                                                                                                                                                                                                                                            • What they buy online
                                                                                                                                                                                                                                                                                                              • 92% of internet users have shopped online
                                                                                                                                                                                                                                                                                                                • Almost two-thirds buy clothing online
                                                                                                                                                                                                                                                                                                                  • Food and drink remain relatively niche
                                                                                                                                                                                                                                                                                                                    • Figure 65: Germany: products purchased online in the last 12 months, May 2018
                                                                                                                                                                                                                                                                                                                  • All demographics shop for clothing online
                                                                                                                                                                                                                                                                                                                    • Similar story for electronics
                                                                                                                                                                                                                                                                                                                      • DIY/gardening attracts an older and more affluent customer
                                                                                                                                                                                                                                                                                                                        • Figure 66: Germany: products purchased online in the last 12 months, by age and affluence, May 2018
                                                                                                                                                                                                                                                                                                                      • Where they shop online?
                                                                                                                                                                                                                                                                                                                        • Amazon dominates German e-commerce
                                                                                                                                                                                                                                                                                                                          • Store-based retailers were slow to get going
                                                                                                                                                                                                                                                                                                                            • Figure 67: Germany: retailers bought from online in the last 12 months, May 2018
                                                                                                                                                                                                                                                                                                                          • Broad appeal of Amazon…
                                                                                                                                                                                                                                                                                                                            • …leaves others looking niche
                                                                                                                                                                                                                                                                                                                              • Figure 68: Germany: profile of shoppers by retailer bought from online in the last 12 months, May 2018
                                                                                                                                                                                                                                                                                                                            • Important features of online retailers
                                                                                                                                                                                                                                                                                                                              • Free returns are vital for online shoppers
                                                                                                                                                                                                                                                                                                                                • Price is an important driver of online shopping
                                                                                                                                                                                                                                                                                                                                  • German consumers don’t need stores
                                                                                                                                                                                                                                                                                                                                    • Figure 69: Germany: important features of retailers when shopping online, May 2018
                                                                                                                                                                                                                                                                                                                                  • Price-conscious older shoppers
                                                                                                                                                                                                                                                                                                                                    • Express delivery appeals to the young
                                                                                                                                                                                                                                                                                                                                      • Figure 70: Germany: extremely important factors, by average age and household income, May 2018
                                                                                                                                                                                                                                                                                                                                    • Important features by what they buy
                                                                                                                                                                                                                                                                                                                                      • Free delivery and returns especially important for clothing shoppers
                                                                                                                                                                                                                                                                                                                                        • Figure 71: Germany: extremely important features of online retailers, clothing shoppers compared to the average, May 2018
                                                                                                                                                                                                                                                                                                                                      • While electronics shoppers look for range and ease of navigation
                                                                                                                                                                                                                                                                                                                                        • Figure 72: Germany: extremely important features of online retailers, consumer electronic shoppers compared to the average, May 2018
                                                                                                                                                                                                                                                                                                                                      • Online food and drink shoppers most likely to want physical stores
                                                                                                                                                                                                                                                                                                                                        • Figure 73: Germany: online shoppers describing physical stores as an ‘extremely important’ feature of an online retailer, percentage point difference from the average, May 2018
                                                                                                                                                                                                                                                                                                                                      • Membership of Amazon Prime
                                                                                                                                                                                                                                                                                                                                        • 31% are currently members of Amazon Prime
                                                                                                                                                                                                                                                                                                                                          • Figure 74: Germany: membership of Amazon Prime, May 2018
                                                                                                                                                                                                                                                                                                                                        • Young parents see the appeal of Prime
                                                                                                                                                                                                                                                                                                                                          • Figure 75: Germany: membership of Amazon Prime, by age, May 2018
                                                                                                                                                                                                                                                                                                                                        • 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
                                                                                                                                                                                                                                                                                                                                                        • The economy
                                                                                                                                                                                                                                                                                                                                                          • Online sales
                                                                                                                                                                                                                                                                                                                                                            • Figure 76: Italy: online sales (incl. VAT), 2011-23
                                                                                                                                                                                                                                                                                                                                                          • Segmentation/What they buy online
                                                                                                                                                                                                                                                                                                                                                            • Broadband access
                                                                                                                                                                                                                                                                                                                                                              • Device ownership and internet access
                                                                                                                                                                                                                                                                                                                                                                • Online shopping
                                                                                                                                                                                                                                                                                                                                                                  • Leading players
                                                                                                                                                                                                                                                                                                                                                                    • Key metrics
                                                                                                                                                                                                                                                                                                                                                                      • Market shares
                                                                                                                                                                                                                                                                                                                                                                        • The consumer
                                                                                                                                                                                                                                                                                                                                                                          • What they buy online
                                                                                                                                                                                                                                                                                                                                                                            • Figure 77: Italy: products purchased online in the last 12 months, May 2018
                                                                                                                                                                                                                                                                                                                                                                          • Where they shop online
                                                                                                                                                                                                                                                                                                                                                                            • Figure 78: Italy: retailers purchased from online in the last 12 months, May 2018
                                                                                                                                                                                                                                                                                                                                                                          • Important features of online retailers
                                                                                                                                                                                                                                                                                                                                                                            • Figure 79: Italy: important features of retailers when shopping online, % agreeing “extremely important” May 2018
                                                                                                                                                                                                                                                                                                                                                                          • Membership of Amazon Prime
                                                                                                                                                                                                                                                                                                                                                                            • What we think
                                                                                                                                                                                                                                                                                                                                                                              • Issues and insights
                                                                                                                                                                                                                                                                                                                                                                                • Is e-commerce finally taking off in Italy?
                                                                                                                                                                                                                                                                                                                                                                                  • The facts
                                                                                                                                                                                                                                                                                                                                                                                    • The implications
                                                                                                                                                                                                                                                                                                                                                                                      • Mobile is essential
                                                                                                                                                                                                                                                                                                                                                                                        • The facts
                                                                                                                                                                                                                                                                                                                                                                                          • The implications
                                                                                                                                                                                                                                                                                                                                                                                            • The market - What you need to know
                                                                                                                                                                                                                                                                                                                                                                                              • Economy looking up
                                                                                                                                                                                                                                                                                                                                                                                                • Online growing strongly
                                                                                                                                                                                                                                                                                                                                                                                                  • Clothing the most purchased category
                                                                                                                                                                                                                                                                                                                                                                                                    • Broadband extending reach
                                                                                                                                                                                                                                                                                                                                                                                                      • High usage of smartphones
                                                                                                                                                                                                                                                                                                                                                                                                        • Online shopping low amongst general population but high amongst those online
                                                                                                                                                                                                                                                                                                                                                                                                          • Market size
                                                                                                                                                                                                                                                                                                                                                                                                            • The economy
                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 80: Italy: online sales (incl VAT), 2013-18
                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 81: Italy: forecast online sales (incl. VAT), 2018-23
                                                                                                                                                                                                                                                                                                                                                                                                            • Segmentation/What they buy online
                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 82: Italy: products purchased online in the last 12 months, May 2018
                                                                                                                                                                                                                                                                                                                                                                                                            • Grocery
                                                                                                                                                                                                                                                                                                                                                                                                              • Clothing
                                                                                                                                                                                                                                                                                                                                                                                                                • Electricals
                                                                                                                                                                                                                                                                                                                                                                                                                  • Beauty and Personal Care
                                                                                                                                                                                                                                                                                                                                                                                                                    • Market drivers
                                                                                                                                                                                                                                                                                                                                                                                                                      • Broadband access
                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 83: Italy: broadband penetration, % all households, 2010-17
                                                                                                                                                                                                                                                                                                                                                                                                                      • Device ownership and internet access
                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 84: Italy: technology products personally owned, Q3 2017
                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 85: Italy: devices used to access the internet in the last three months, Q3 2017
                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 86: Italy: demographic profile of those using a smartphone to access the internet in the last three months, Q3 2017
                                                                                                                                                                                                                                                                                                                                                                                                                      • Online shopping
                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 87: France: percentage saying they have bought online in the last year, 2008-17
                                                                                                                                                                                                                                                                                                                                                                                                                      • Leading players – What you need to know
                                                                                                                                                                                                                                                                                                                                                                                                                        • An international sector
                                                                                                                                                                                                                                                                                                                                                                                                                          • Domestic players lag behind
                                                                                                                                                                                                                                                                                                                                                                                                                            • Online grocery in its infancy
                                                                                                                                                                                                                                                                                                                                                                                                                              • Amazon leads
                                                                                                                                                                                                                                                                                                                                                                                                                                • Leading players
                                                                                                                                                                                                                                                                                                                                                                                                                                  • International players dominate
                                                                                                                                                                                                                                                                                                                                                                                                                                    • Amazon investing and innovating
                                                                                                                                                                                                                                                                                                                                                                                                                                      • Sector specialists too
                                                                                                                                                                                                                                                                                                                                                                                                                                        • Domestic players lag behind
                                                                                                                                                                                                                                                                                                                                                                                                                                          • YNAP
                                                                                                                                                                                                                                                                                                                                                                                                                                            • ePrice
                                                                                                                                                                                                                                                                                                                                                                                                                                              • Grocery
                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 88: Italy: leading online retailers, sales, 2015-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                • Market shares
                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Amazon leads, followed by a long tail
                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 89: Italy: leading online retailers’ shares of all online sales, 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                  • The consumer – What you need to know
                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Over half buy clothing/footwear online
                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Variation by demographics
                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Online-only retailers dominate
                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Range and costs are important to consumers
                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Highest membership of Amazon Prime
                                                                                                                                                                                                                                                                                                                                                                                                                                                              • What they buy online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Over half buy clothing/footwear online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 90: Italy: products purchased online in the last 12 months, May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 91: Italy: products purchased online in the last 12 months, by gender, May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 92: Italy: profile of shoppers by type of product bought online in the last 12 months, May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Where they shop online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Amazon dominates
                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 93: Italy: retailers bought from online in the last 12 months, May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 94: Italy: profile of shoppers by retailer bought from online in the last 12 months, May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Important features of online retailers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Range and cost are paramount
                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 95: Italy: important features of retailers when shopping online, May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • What’s important for different categories?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Costs are important to fashion buyers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 96: Italy: extremely important features of online retailers, clothing shoppers compared to the average, May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Choice and price matching important to beauty shoppers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 97: Italy: extremely important features of online retailers, beauty shoppers compared to the average, May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Membership of Amazon Prime
                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 98: Italy: membership of Amazon Prime, May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 99: Italy: current members of Amazon Prime, by age and gender, May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • 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
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • The economy
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Online sales
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 100: Spain: online sales (including VAT), 2012-23
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Segmentation/what they buy online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 101: Spain: estimated share of online sales by product category, 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Broadband access
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 102: Spain: broadband penetration, % all households, 2008-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Online shopping
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 103: Spain: percentage saying they have bought online in the last year, 2008-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Leading players
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Market share
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 104: Spain: leading online retailers’ shares of online sales, 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Other leading players
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • The consumer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • What they buy online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 105: Spain: products purchased online in the last 12 months, May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Where they shop online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 106: Spain: retailers bought from online in the last 12 months, May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Important features of online retailers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 107: Spain: important features of retailers when shopping online, May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Membership of Amazon Prime
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 108: Spain: membership of Amazon Prime, May 2017-May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Issues and insights
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • How quickly will Spain catch up with Northern Europe in online?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • The facts
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • The implications
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Small, but perfectly formed
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • The facts
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • The implications
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • The market - What you need to know
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Economy growing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Online sales of €8.7 billion in 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Clothing the biggest sector online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Broadband penetration still below average
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Online shopping growing in popularity
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Market size
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • The economy
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Online sales and forecasts
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 109: Spain: online sales (incl VAT), 2013-18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 110: Spain: forecast online sales, 2018-23
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Segmentation/What they buy online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 111: Spain: percentage saying they have bought online in the last year, by product category, 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 112: Spain: products purchased online in the last 12 months, May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 113: Spain: estimated online sales by product category, 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 114: Spain: estimated online share of sales, by sector, 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Market drivers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Broadband access
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 115: Spain: broadband penetration, % of all households, 2008-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Device ownership and internet access
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 116: Spain: technology products personally owned, Q3 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 117: Spain: devices used to access the internet in the last three months, Q3 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Online shopping
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 118: Spain: percentage saying they have bought online in the last year, 2013-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Leading players – What you need to know
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Food retailing developing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • AliExpress an important player
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Fashion – multichannel leads the way
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Amazon and El Corte Inglés lead the way
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Leading players
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • El Corte Inglés close behind Amazon
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Amazon and eBay
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Zara and Grupo Inditex well established online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Zalando gaining ground
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • AliExpress
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 119: Spain: leading online retailers, sales, 2015-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Market shares
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 120: Spain: leading online retailers, market shares, 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • The consumer – What you need to know
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Clothing the most bought item
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Amazon way out in front
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Low costs and breadth of range are most important
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • A third of Spanish internet users are members of Prime
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • What they buy online?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 121: Spain: products purchased online in the last 12 months, May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 122: Spain: profile of shoppers by what they bought online in the last 12 months, May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Where they shop online?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 123: Spain: retailers purchased from online in the last 12 months, May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 124: Spain: profile of shoppers by retailer purchased from online in the last 12 months, May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Where they shop and what they bought
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Amazon
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 125: Amazon: relative strength by product, May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • AliExpress
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 126: AliExpress: relative strength by product, May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • eBay
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 127: eBay: relative strength by product, May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Privalia
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 128: Privalia: relative strength by product, May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Important features of online retailers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 129: Spain: important features of retailers when shopping online, May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 130: Spain: profiles of those who rated features of online retailers extremely important, May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Important features of online retailers by where they shop
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 131: Spain: those who think free standard delivery is extremely important by where they shop, May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 132: Spain: those who think low prices are extremely important by where they shop, May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 133: Spain: those who think having a price promise is extremely important by where they shop, May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Membership of Amazon Prime
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 134: Spain: membership of Amazon Prime, 2017-18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 135: Spain: profile by membership of Amazon Prime, May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • 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
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Online retail continues to grow in the double-digits
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 136: All online sales and forecast, 2013-23
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Online retail accounts for just a sixth of all retail, leaving much room to grow
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 137: Online as a % of all UK retail sales, 2008-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Pure players growing a little faster than store-based online sales
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 138: Online pure players’ and store-based retailers’ share of all online sales, 2008-18 (May)
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Fashion the largest category
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 139: Online sales by product, 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Leading retailers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Amazon dominant…
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 140: Leading retailers’ share of all online sales, 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • …and its brand is in rude health
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 141: Key metrics for selected brands, November 2017-May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • The consumer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Nine in 10 purchased products online in the past year
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 142: Change in online shopping use, by age and gender, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Almost half of online shoppers collected products in the past year
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Clothing, footwear and accessories most popular online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 143: Products purchased online in the past year, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Smartphone purchasing growing, particularly amongst 16-34s
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 144: Devices used to shop online in the past 12 months, by age, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Voice commerce has potential but needs to avoid the ‘gimmick’ tag
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 145: Attitudes towards voice commerce, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • More shop with online-only retailers than multi-channel retailers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 146: Retailers shopped with in the past 12 months, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Convenience driving online use, but consumers know this comes at a cost
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 147: Attitudes towards online’s effect on the high street, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Amazon is fostering an ecosystem through Prime and its consumer electronics
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Wide range and low prices staples of online retailing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 148: Importance of factors when choosing where to shop online, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Majority are concerned about the level of data collected by retailers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 149: Attitudes towards data collection and shopping online, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Issues and insights
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • The changing retail landscape: Online and the high street
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • The facts
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • The implications
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • The Amazon ecosystem is thriving, but are there any ways to combat it?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • The facts
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • The implications
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Voice commerce: VR 2.0 or the next leap in customer interaction?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • The facts
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • The implications
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • The market – What you need to know
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Market conditions fertile for online growth
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Online retail continues to grow in the double-digits
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Pure players growing a little faster than store-based online sales
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Digital downloads worth £4.7 billion
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Market drivers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Internet access at near universal levels
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 150: UK household internet access, 2008-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Four fifths own a smartphone
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 151: Ownership of mobile phones, January 2012-December 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Real incomes begin to climb once more
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 152: Real wage growth: average weekly earnings vs inflation, January 2015-May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Confidence takes a hit in 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 153: Mintel Financial Confidence Tracker, January 2016-June 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Retail sector continues to grow during a tough period
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 154: Annual % change in all UK retail sales (ex-fuel), by value and volume, Jan 2016-April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Market size and forecast
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Further double-digit growth for the online sector in 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 155: All online sales and forecast, 2013-23
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 156: All online sales and forecast, at current and constant prices, 2013-23
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Online accounts for a sixth of UK retail
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 157: Online as a % of all UK retail sales, 2008-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Online claims its greatest share in November
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 158: Online retail sales as % of all retail sales, non-seasonally adjusted, January 2015-Apr 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Whilst share peaks in November, sales peak in December
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 159: Average weekly value of retail sales online, non-seasonally adjusted, January 2015-April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Forecast methodology
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Market segmentation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Online sales – Stores vs online pure players
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 160: Online pure players’ and store-based retailers’ share of all online sales, 2008-18 (May)
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 161: Online pure players’ and store-based retailers’ share of all online sales, 20014-18 (May)
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Online sales by type of retailer chart
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 162: Online sales by type of retailers, 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 163: Online share of major retail sectors, 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Home shopping
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 164: Online sales as proportion all non-store retailers’ sales, 2008-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • High street vs online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 165: Growth in sales, non-store retailers vs store-based retailers, 2008-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Forecasts
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Store-based retailers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 166: Store based retailers: online sales and forecast 2013-23
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 167: Store-based retailers: online sales and forecast (inc VAT), in current and constant prices, 2013-23
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Pure players
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 168: Online pure players: sales and forecast, 2013-23
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 169: Online pure players: sales and forecast (inc VAT), in current and constant prices, 2013-23
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Market segmentation by product
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 170: Online sales by product, 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Digital spending
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Books – A return to hard copy
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 171: The book market, 2013-18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 172: E-books as a proportion of all book sales, 2013-18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Music – Growth from streaming rather than digital
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 173: Spending on recorded music, 2012-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 174: Spending on recorded music, by format, 2012-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Video another sector switching to streaming
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Games
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • The total download market
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 175: The digital download market, 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • The consumer – What you need to know
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Nine in 10 purchased products online in the past year
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Almost half of online shoppers collected products in the past year
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Clothing, footwear and accessories most popular online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Smartphone purchasing growing, particularly amongst 16-34s
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Voice commerce has potential but needs to avoid the ‘gimmick’ tag
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • More shop with online-only retailers than multi-channel retailers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Amazon is fostering an ecosystem through Prime and its consumer electronics
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Wide range and low prices staples of online retailing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • A majority are concerned about the level of data collected by retailers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Who buys online and who is driving growth?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Nine in 10 bought online in the past year
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 176: All online retail users, by age, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Market being driven by encouraging users to bring more of their shopping online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 177: Change in online shopping use, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Young males most likely to have increased their levels of online shopping
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 178: Change in online shopping use, by age and gender, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Products purchased online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Fashion the most popular online purchase
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 179: Products purchased online in the past year, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Demographic comparisons
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 180: Products purchased online in the past year, by gender, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 181: Products purchased online in the past year, by age, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Female online shoppers have a wider repertoire of purchases online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 182: Repertoire of product categories purchased online in the past year, by age and gender, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Devices used to purchase online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Laptops/desktops remain the most used devices, but smartphones are catching up quickly
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 183: Devices used to shop online in the past 12 months, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 184: Trend data: devices used to shop online, April 2017 and April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Younger consumers far more likely to shop by mobile
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 185: Devices used to shop online in the past 12 months, by age, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Interest in and attitudes towards voice commerce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • One in 10 households have a personal assistant
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 186: Ownership of smart voice-controlled speakers, March 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Amazon has a clear first-mover advantage
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 187: Brand ownership of smart voice-controlled speakers, March 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • There is work to be done to overcome the ‘gimmick’ label
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 188: Attitudes towards voice-commerce, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 189: Attitudes towards voice commerce, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • How they receive online purchases
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Almost half of online shoppers have collected purchases
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 190: Delivery methods used in the past 12 months, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Younger consumers more likely to collect
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 191: Detailed delivery methods used in the past 12 months, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 192: Detailed delivery methods used in the past 12 months, by age, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Most consumers stick to one delivery method
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 193: Repertoire of delivery methods used in the past 12 months, by age, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Online and the high street
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • More online shoppers use online-only retailers than those with stores
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 194: Type of retailer shopped with online in the past year, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • The effect of online growth on the high street
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 195: Attitudes toward online’s effect on the high street, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Retailers used
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Nine in 10 online shoppers used Amazon in the past year
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 196: Online-only and multi-channel retailers shopped with online in the past year, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 197: Retailers shopped with in the past 12 months, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Newer entrants to the market appealing to younger consumers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 198: Retailers shopped with in the past 12 months, by age and socio-economic group, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Multi-channel shoppers show a broader repertoire
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 199: Repertoire of online-only and multi-channel retailers shopped with in the past year, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Amazon: Prime and consumer electronics
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • A quarter of consumers are now Amazon Prime members
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 200: Membership of Amazon Prime, March 2017-18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Two thirds of 16-34s have some experience with Prime
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 201: Membership of Amazon Prime, March 2017-18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • The Amazon ecosystem
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 202: Amazon services used in the past year, March 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 203: Amazon device ownership, by Prime membership status, March 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Prime membership translates into greater purchasing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 204: Purchases made via Amazon, by Prime membership status, March 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • What is important when choosing where to shop?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Wide range a must for those trading online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 205: Importance of factors when choosing where to shop online, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 206: Select factors which were selected as being “extremely important”, by age, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Free returns drive appeal
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 207: TURF analysis – Online retailing, May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Attitudes towards data and buying online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Half of consumers feel the level of data retailers collect is a concern
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 208: Attitudes towards data collection and shopping online, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 209: Agreement with statements around data collection and shopping online, by generation, April 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Clear communication about the use of data could ease concerns
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 210: Attitudes towards data sharing, December 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 211: Companies consumers would share more data with in exchange for incentives, December 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Key players – What you need to know
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Amazon dominant
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • eBay second, but the gap with Amazon is widening
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Tesco downsizing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Not as big as rumour would suggest
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Amazon brand in rude health
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Online players continue to look to make the shopping experience ‘frictionless’
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Leading online retailers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Amazon and eBay
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Tesco and Sainsbury’s
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • John Lewis
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Mail order companies
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Fast-growing pure players
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 212: UK: Top 30 leading online retailers, 2015/16-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Market shares
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Amazon accounts for just under a quarter of online retail in the UK
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 213: Leading retailers share of all online sales, 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 214: Leading retailers: share of all online sales, 2015-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Brand research
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • What you need to know
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Brand map
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 215: Attitudes towards and usage of selected brands, November 2017-May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Key brand metrics
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 216: Key metrics for selected brands, November 2017-May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Brand attitudes: innovation driving ASOS
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 217: Attitudes, by brand, November 2017-May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Brand personality: Amazon, eBay and Ikea lead in the fun stakes
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 218: Brand personality – Macro image, November 2017-May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Premium position for John Lewis
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 219: Brand personality – Micro image, November 2017-May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Brand analysis
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Amazon: excelling in the experience stakes
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • ao.com: low usage impacting perceptions
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Argos: universally known but work needed on the experience
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • ASOS: younger consumers driving a positive brand image
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Boots: high trust levels
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Currys PC World: lacking trust and customer experience
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Debenhams: improvement needed in the customer experience
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • eBay: seen as innovative and trustworthy
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Ikea: brand perception strongest with younger consumers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • John Lewis: a premium position despite the price match
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • M&S: a strong brand that has lost its cutting edge
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Next: accessible but fun
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Shop Direct – Very & Littlewoods: a tale of two halves
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Launch activity and innovation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Returns and deliveries
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Making returns as convenient as deliveries
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Amazon poised to launch its own delivery service
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Bus depots as delivery hubs
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Amazon and Volvo in unique test drive initiative
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Sainsbury’s trialling zero emission bikes for grocery deliveries
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • New e-commerce venture
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Lidl to launch online grocery service in the UK?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Innovative app
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Cashing in on unwanted clothes
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Augmented and virtual reality
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Nike using Facebook Messenger’s new AR try-and-buy tool
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Argos launches augmented reality feature on its mobile app
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Purchasing options
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Try before you buy
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Advertising and marketing activity
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Online retail advertising spend up for a third consecutive year in 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 220: UK online retail: recorded above-the-line, online display and direct mail total advertising expenditure, 2014-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • eBay rebranding itself into a shopping destination
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Amazon puts fashion and delivery in the spotlight
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Notonthehighstreet Christmas campaign
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Ocado the leading online supermarket/grocer/food retail advertiser
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Pretty Little Thing nationwide taxi TV advertising campaign
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Party with the Porters
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 221: Leading UK online retailers: recorded above-the-line, online display and direct mail total advertising expenditure, 2014-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Over half of total advertising spend channelled through TV
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 222: UK online retail: recorded above-the-line, online display and direct mail total advertising expenditure, by media type, 2014-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Nielsen Ad Intel coverage
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Appendix – Data sources, abbreviations and supporting information
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Data sources
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • VAT
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Financial definitions
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Abbreviations
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Consumer research methodology
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • TURF analysis – Methodology
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 223: Table – TURF analysis – Online retailing, May 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Appendix – Market size and forecast
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Forecast methodology
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Amazon.com

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Geographical expansion
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Prime
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Marketplace
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • AWS
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Profitability
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • What next?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Food
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Clothing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Electricals and others
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Published sales and total sales volumes
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 224: Amazon: sales breakdown by source of income, 2015-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 225: Amazon: sales breakdown by source of income, 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • First quarter 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Gross merchandise volume (GMV)
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 226: Amazon: estimated group gross merchandise volume, 2015-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • GMV by country
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 227: Amazon.com Inc: group financial performance, 2013-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • UK sales by product
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 228: Amazon UK: estimated sales by product, 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • AO World

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • New markets on the horizon?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • New categories for all markets
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Addressing the growth in m-commerce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Recycling facility provides competitive edge
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 229: AO World Plc: group financial performance, 2013/14-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 230: AO World Plc: UK turnover breakdown by segment, 2016/17 and 2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Argos

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Argos in Asda supermarkets
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Bolstering tech team to keep ahead of the competition
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Beefed up market-leading Fast Track home delivery service
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Local Sainsbury's collection points
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Co-branded ventures bringing Argos and Sainsbury’s closer together
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 231: Argos: group financial performance, 2013/14-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 232: Argos: outlet data, 2013/14-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • ASOS

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Positive and empowering approach
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Try before you buy
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Expansion and innovations
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Leisurewear launches
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Mobile coming to the fore
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Seamless service
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 233: ASOS: group financial performance, 2012/13-2016/17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Cdiscount

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • M-commerce: still room for growth
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Stepping up on fulfilment
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Product range extension boosts home and family and leisure segments
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Innovation at the heart of Cdiscount’s strategy
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Let’s get phygital…
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 234: Cdiscount: group financial performance, 2013-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Dixons Carphone

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • A shift in focus towards delivery
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Reducing barriers to online purchasing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Extending online ranges
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 235: Dixons Carphone: retail brands, by country, 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 236: Dixons Carphone: group financial performance, 2013/14-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Online performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 237: Dixons Carphone: estimated online sales, 2013/14-2016/17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 238: Dixons Carphone: estimated online sales, by channel, 2013/14-2016/17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 239: Dixons Carphone: outlet data, 2013/14-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • eBay

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Marketplace
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • No longer a fast-growing business
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Progress in 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Shortcomings vs Amazon
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • What next?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 240: eBay: group gross merchandise volume, 2013-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 241: eBay: major markets, estimated growth in GMV in local currency, 2014-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 242: eBay Europe: sales, excluding VAT, 2015-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Fnac Darty

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Integrating e-commerce platform with Google voice assistant
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Immediate access to installation and troubleshooting support
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Strategic collaborations to strengthen product and pricing proposition
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Capitalising on smartphone popularity to push audio books
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Making store collection and home delivery more convenient
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • French ‘Black Friday’
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 243: Fnac Darty: pro-forma group financial performance, 2015-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 244: Fnac Darty: pro-forma store network, 2015-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • John Lewis (Department Store)

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • A need for more flexible fulfilment options
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Enhancements to app reflect steady shift to m-commerce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Home Solutions broaden range of services offered
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • JLAB helps keep finger on technology pulse
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 245: John Lewis Plc (department store): group financial performance, 2013/14-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 246: John Lewis Plc (department store): outlet data, 2013/14-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Next Group

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Clawing back lost ground
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Next follows the trend towards personalisation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Increasing range of payment options aims to drive sales growth
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 247: Next Group: group financial performance, 2013/14-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 248: Next Group: outlet data, 2013/14-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 249: Next Group: average active customers, 2016/17 and 2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Ocado Group

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Ocado and Waitrose
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Putting it in perspective
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Capacity
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Solutions – The second growth arm
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • What next?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 250: Ocado Group plc: group financial performance, 2011/12-2016/17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Otto Group (Multichannel Retail)

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Marketplace development widening product choice and attracting new customers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • ABOUT YOU doubles sales
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • ‘Conversational commerce’
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Sports lifestyle hub
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Parcel shops, micro depots and trunk delivery
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Using augmented reality technology to make choosing the right product easier
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Otto Now expanded to include over 100 products
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 251: Otto Group (Multichannel Retail): group sales performance, 2013/14-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 252: Otto Group: major brands within the Multichannel Retail segment, 2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Shop Direct Group

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Change at the top
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Where next for Littlewoods?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Very restricting its appeal
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • What next?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Very vs Littlewoods
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 253: Shop Direct Group: group financial performance, 2012/13-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Tesco

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Closing its non-food website
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Same-day delivered groceries
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Tackling wastage through over ordering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Exploring new delivery methods
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 254: Tesco Plc: group financial performance, 2013/14-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 255: Tesco Plc: outlet data, 2013/14-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Vente-privée

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Priority must be to digest acquisitions
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Mobile commerce increases in importance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Delivery pass and marketplace launches aim to further increase appeal
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Investment in innovation driving growth
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • A growing contribution from entertainment
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Potential clouds on the horizon?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 256: Vente-privée: group sales performance, 2013-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • YNAP Group

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Richemont takeover completed
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • YNAP focuses on m-commerce…
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • …and expands product range
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Sustainability commitments
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 257: YNAP Group: group financial performance, 2014-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Zalando

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Complementary beauty category offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Pop-up an opportunity to raise awareness of the online style advisory service
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Growing role of personalisation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Scaling up logistics network and order fulfilment options
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Rising fulfilment costs a sign of things to come?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Local and regional-specific payment options boosting basket size and conversion rates
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 258: Zalando: group financial performance, 2013-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 259: Zalando: key metrics, 2015-Q1 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Retail offering

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Online Retailing - Europe - July 2018

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            £2,895.00 (Excl.Tax)