Report Summary
“The lifting of COVID-19 restrictions and more people returning to in-store shopping has dented ecommerce growth, but online purchasing still remains above pre-pandemic level and the sector is still outperforming the Spanish retail market as a whole. It is forecast to continue to do so over the coming years, as the online habit sticks, fuelled largely by the wider range of brands online than when shopping in-store.”
– Stephen Mayles, Retail Analyst
This Report will look at the following areas:
- The impact of COVID-19 on the online retailing sector and how it is recovering from this
- The impact of rising living costs on Spanish consumers and how this is affecting the online retailing sector
- The winners and losers in the online retailing sector as we emerge into the post-COVID recovery phase
- How people shop online and which channels and retailers they use
- Attitudes towards different aspects of online retailing.
Table of Contents
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Overview
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- Key issues covered in this Report
- Market context
- Areas covered in this Report
- Market definition
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Executive summary
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- The five-year outlook for online retailing
- Figure 1: Spain: outlook for online retailing, 2022-27
- The market
- Market size and forecast
- Figure 2: Spain: estimated online spend and forecast (incl VAT), 2017-25
- Market drivers
- The consumer
- Who shops online
- Figure 3: Spain: percentage of internet users who have shopped online in the last 12 months, by age, 2020-22
- What they buy online
- Figure 4: Spain: products bought online in last 12 months, 2020-22
- Frequency of online shopping
- Figure 5: Spain: frequency of shopping online, 2020-22
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- Figure 6: Spain: percentage who have shopped more online in the last 12 months compared to the previous 12 months, 2020-22
- Where they shop online
- Figure 7: Spain: retailers without stores shopped with online, 2021-22
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- Figure 8: Spain: retailers with stores shopped with online, 2021-22
- Attitudes to shopping online
- Figure 9: Spain: attitudes and behaviours to shopping online, 2022
- Companies and brands
- Leading players
- Market shares
- Figure 10: Spain: leading online retailers’ estimated shares of all online sales, 2021
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Issues and insights
- Buy now, pay later can help enhance affordability during time of financial hardship
- Faster and greener delivery methods a key differentiator for Spanish online shoppers
- Buy now, pay later can help enhance affordability during time of financial hardship
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Market size and forecasts
- Online sales and forecasts
- Figure 11: Spain: estimated online spend (including VAT), 2017-25
- Online sales and forecasts
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Market drivers
- Economic rebound fading
- Figure 12: Spain: key economic projections, % annual change, 2019-23
- Inflation stoked by conflict in Ukraine
- Figure 13: Spain: consumer price inflation (HICP *), annual % change, 2020-22
- Falling unemployment, particularly among under 25s, bodes well for future ecommerce growth
- Surging inflation and worries over Ukraine denting consumer confidence
- Figure 14: Spain: trends in levels of consumer confidence*, 2020-22
- Soaring cost of living starting to feed through into retail sales
- Figure 15: Spain: year-on-year retail sales volume and value growth, 2020-22
- Consumers more confident about shopping in-store, but online shopping still above pre-pandemic level
- Figure 16: Spain: changes in spending habits since the start of the COVID-19/coronavirus outbreak, 2020-22
- Consumers beginning to feel the financial pinch of rising costs…
- Figure 17: Spain: changes in financial situation over the past year, 2022
- …and a third expect their financial situation to worsen over the next year or so
- Figure 18: Spain: financial confidence over the coming year, 2022
- Conflict in Ukraine sending prices even higher and eroding purchasing power
- Most purchases made on desktop, laptop, tablet computer, but momentum shifting to smartphone
- Figure 19: Spain: devices used for online shopping, 2022
- Economic rebound fading
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Who shops online
- Relaxation of COVID-19 rules dampens online purchasing
- Figure 20: Spain: percentage of internet users who have shopped online in the last 12 months, by age and gender, 2019-22
- Online purchasing peaks among higher income households
- Figure 21: Spain: online shoppers, by net monthly household income, 2022
- Relaxation of COVID-19 rules dampens online purchasing
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What they buy online
- Steep fall in non-essential online purchasing
- Figure 22: Spain: products bought online in last 12 months, 2019-22
- Frequency of shopping online
- Less regular and more infrequent online shopping
- Figure 23: Spain: frequency of shopping online, 2020-22
- Big fall in consumers shopping more online points to reduced demand
- Figure 24: Spain: frequency of shopping online, 2022
- Steep fall in non-essential online purchasing
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Where they shop online
- Ecommerce-only retailers the preferred destination for online shoppers
- Figure 25: Spain: types of retailers shopped with online, 2021-22
- Amazon the most popular online-only retailer
- Figure 26: Spain: retailers without stores shopped with online, 2021-22
- El Corte Inglés the most popular store-based destination for online shoppers
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- Figure 27: Spain: retailers with stores shopped with online, 2021-22
- Ecommerce-only retailers the preferred destination for online shoppers
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Attitudes to shopping online
- Access to more brands especially important for small town and rural online shoppers
- Delivery speed a key factor in choice of retailer for three-quarters of shoppers
- Stock shortages in stores fuelling online shopping, particularly in densely populated areas
- Breathing new life into brick-and-mortar retail
- More than half of shoppers have concerns with environmental practices tied to online shopping
- Conscious consumerism and thrifting driving second-hand online buying
- Figure 28: Spain: attitudes and behaviours to shopping online, 2022
- Access to more brands especially important for small town and rural online shoppers
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Companies and brands
- Spain’s leading e-commerce brand Amazon accelerates fashion offering
- eBay considering cryptocurrency as a means of payment
- AliExpress order growth impacted by change in EU VAT rules and supply chain disruption
- Inditex global online sales increase 14% in FY21
- El Corte Inglés launches several new digital services
- PC Componentes launches a new multi-category platform
- Shortage of clothing overstocks force Veepee to broaden product offering
- Mercadona online sales up 45% on back of 50% increase in orders
- Stellar year for Zalando
- MediaMarkt sales accelerate on the back of strong ecommerce
- Carrefour makes a firm commitment to boosting its online grocery sales in Spain
- Leroy Merlin expands delivery options
- Décathlon online sales increase 6% after marketplace launch
- Figure 29: Spain: leading online retailers, sales (excluding VAT), 2018-21
- Spain’s leading e-commerce brand Amazon accelerates fashion offering
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Market shares
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- Aggregate online sales of the sector’s leading players ahead of pre-pandemic level
- Multichannel retailers share of the ecommerce market slips back
- Figure 30: Spain: leading online retailers’ estimated shares of all online sales, 2019-21
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Appendix
- Abbreviations
- Consumer research methodology
- Data sources
- EUROSTAT – Luxembourg
- Abbreviations
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