2020
0
Spain Department Stores Market Report 2020
2020-08-27T16:15:52+01:00
OX994458
1095
123728
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Report
en_GB
“The department store sector in Spain has only one significant player, El Corte Inglés. It was continuing to perform well, helped by the fact that consumer spending was growing in…

£ 1,095 (Excl.Tax)

Report Summary

Everything you need to make the right decisions

Providing the most comprehensive and up-to-date information and analysis of the Department Stores: Inc Impact of COVID-19 – Spain market, and the behaviours, preferences and habits of the consumer.

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What are the key challenges facing the industry? Who is the consumer and what do they want? Where are the opportunities, where are the risks and what lies ahead?

Covered in this report

In 2019, consumer spending on the product categories traditionally sold by department stores increased by 1.9% to €72.2 billion. While all the categories had seen growth in spending, demand for furniture, household appliances and other homewares had grown faster than for fashion, personal care and brown goods in Spain. Offering a wide range of products may therefore have shored up the growth in sales observed by El Corte Inglés, which is essentially the only department store chain operating in the country. The group saw revenues grow by 3.2% to €11.76 billion in 2018 and we estimate that sales will have increased by another 3.0% to €12.11 billion in 2019.

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Expert analysis from a specialist in the field

Written by Armando Falcao, a leading analyst in the Retail sector, his extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.

The department store sector in Spain has only one significant player, El Corte Inglés. It was continuing to perform well, helped by the fact that consumer spending was growing in all categories carried by the retailer’s stores. However, 2020 is going to be a difficult year as a result of the outbreak of COVID-19, which hit Spain hard. In addition to strengthening its online presence, the department store has been investing heavily to broaden its audience and pursuing ways of attracting more shoppers to its stores Armando Falcao
Retail Analyst

Table of Contents

  1. Overview

    • What you need to know
      • Key issues covered in this Report
        • Areas covered in this Report
        • Executive Summary

            • The market
              • Consumer spending
                • Department stores’ share of clothing & beauty markets
                  • Figure 1: Spain: estimated distribution of consumer spending on clothing and footwear by channel, 2018
                  • Figure 2: Spain: Estimated distribution of consumer spending on beauty and personal care products by channel, 2018
                • Sector value and forecast
                  • Figure 3: Spain: Estimated department stores sales* (excluding VAT), 2013-19
                  • Figure 4: Spain: Mixed goods retailers, sales as % of all retail sales, 2012-24
                • Companies and brands
                  • Leading players
                    • Market shares
                      • Figure 5: Spain: El Corte Inglés, share of mixed goods retailers’ sales, 2015-19
                    • Online
                      • The consumer
                        • What they buy
                          • Figure 6: Spain: Products purchased in-store and online from a department store, January 2020
                        • Where they shop
                          • Figure 7: Spain: Online and in-store shoppers at leading department stores, March 2018 and January 2020
                        • Attitudes to shopping at department stores
                          • Figure 8: Spain: Attitudes to shopping at department stores, January 2020
                        • What we think
                        • The Impact of COVID-19 on Department Stores

                          • Short, medium and long-term impact on the sector
                            • Figure 9: Short, Medium and long term impact of COVID-19 on Department Stores, May 2020
                          • Opportunities and threats
                            • Repercussions of COVID-19 could be permanent in some countries
                              • Social distancing measures will change the experience and retailers must react
                                • Figure 10: OpenTable retail slot booking system, San Francisco, May 2020
                              • Disruption to tourism will hit department stores
                                • Strong online business is key to survival
                                  • Adapting services to the ‘new-norm’
                                    • Community, co-operation and ethical considerations come to the fore
                                      • Impact on the department store sector
                                        • Loss of tourism and local shoppers will hit department stores hard
                                          • Forecast
                                              • Figure 11: Europe: Department stores market size and forecast, 2015-24
                                              • Figure 12: Europe: Detailed Department stores market size and forecast, by country, 2014-24
                                            • The impact of COVID-19 on consumer behaviour across Europe
                                              • Figure 13: Europe: Those extremely worried about the risk of being exposed to COVID-19, March and April 2020*
                                              • Figure 14: Europe: Those extremely worried about how the outbreak will affect their lifestyle, March and April 2020*
                                              • Figure 15: Europe: Changes made to lives as a result of the COVID-19, April 2020*
                                            • People expect to spend less on key categories sold by department stores
                                              • Figure 16: Europe: Net balance of expected spending* on categories sold by department stores, April 2020**
                                            • How the crisis will affect key consumer segments
                                              • Concern about infection and changes to lifestyle both increase with age
                                                • Figure 17: Europe: Those extremely worried about the risk of being exposed to COVID-19, by age, April 2020*
                                              • Across Europe spending patterns will be subdued in the short term
                                                • Figure 18: Europe: Net balance of expected spending* on beauty and toiletries, by age, April 2020**
                                                • Figure 19: Europe: Net balance of expected spending* on clothing and accessories, by age, April 2020**
                                              • Men are more likely to spend more on clothing, women on beauty & personal care
                                                • Figure 20: Europe: Net balance of expected spending* on beauty and toiletries, by gender, April 2020**
                                                • Figure 21: Europe: Net balance of expected spending* on clothing and accessories, by gender, April 2020**
                                              • Increase in online shopping varies across countries
                                                  • Figure 22: Europe: Proportion of shoppers who increased their online shopping, April 2020*
                                                • The shift to online entails more than just having an online shop
                                                  • COVID-19: Market context
                                                    • United Kingdom
                                                      • France
                                                        • Germany
                                                          • Italy
                                                            • Spain
                                                            • Issues and Insights

                                                              • COVID-19 set to have major impact on Spanish department store sales
                                                                • Gourmet gastronomy and foodservice are the way forward
                                                                  • The facts
                                                                    • The implications
                                                                      • Appealing to younger consumers through experiential retail
                                                                        • The facts
                                                                          • The implications
                                                                          • The Market – What You Need to Know

                                                                            • Consumer spending
                                                                              • Department stores’ share of the clothing and beauty markets
                                                                                • ECI is the only department store in Spain
                                                                                • Consumer Spending

                                                                                  • Recovering economy but slowing growth
                                                                                    • Fashion is the key category but is growing the slowest
                                                                                      • Figure 23: Spain: Consumer spending on key department store product categories (including VAT), at current prices, 2015-19
                                                                                    • Department stores’ share of clothing and beauty markets
                                                                                      • Clothing
                                                                                          • Figure 24: Spain: estimated distribution of consumer spending on clothing and footwear by channel, 2018
                                                                                        • Beauty and personal care
                                                                                            • Figure 25: Spain: Estimated distribution of spending on beauty and personal care products by channel, 2018
                                                                                        • Sector Size and Forecast

                                                                                            • Department store sector size
                                                                                              • Mixed goods retailers sector
                                                                                                • Figure 26: Spain: Mixed goods retailers, sales (excluding VAT), 2015-19
                                                                                                • Figure 27: Spain: Mixed goods retailers, forecast sales (excluding VAT), 2020-24
                                                                                            • Companies and Brands – What You Need to Know

                                                                                              • El Corte Inglés, the only Spanish department store
                                                                                                • ECI takes 80% of mixed goods sales
                                                                                                  • Online shopping continues rise
                                                                                                  • Leading Players

                                                                                                    • El Corte Inglés, the only Spanish department store
                                                                                                        • Figure 28: Spain: Leading department store retailers, net revenues, 2015-19
                                                                                                        • Figure 29: Spain: Leading department store retailers, outlets, 2015-19
                                                                                                        • Figure 30: Germany: Leading department store retailers, sales per outlet, 2015-19
                                                                                                    • Market Shares

                                                                                                        • Figure 31: Spain: El Corte Inglés share of mixed goods retailers’ sales, 2015-19
                                                                                                    • Online

                                                                                                      • Online activity
                                                                                                        • Internet access widespread
                                                                                                          • Figure 32: Spain: Proportion of households with broadband access, 2008-19
                                                                                                        • Shopping online
                                                                                                          • Figure 33: Spain: Online purchases in the last 12 months compared to other countries, 2008-19
                                                                                                          • Figure 34: Spain: Online purchases in the last 12 months in key categories, 2008-19
                                                                                                        • Department stores online sales
                                                                                                          • Figure 35: Spain: Online and in-store shoppers at leading department stores, January 2020
                                                                                                        • Leading online players
                                                                                                        • The Consumer – What You Need to Know

                                                                                                          • Clothing most common department store purchase
                                                                                                            • Certain categories are bought predominantly online
                                                                                                              • El Corte Inglés continues to grow its online presence
                                                                                                                • In-store experience is key to success
                                                                                                                  • Extra services, exclusivity and events can attract online shoppers
                                                                                                                  • Where They Shop

                                                                                                                    • El Corte Inglés attracts 56% of consumers in-store and 39% online
                                                                                                                      • Figure 36: Spain: In-store and online shoppers at leading department stores, March 2018 and January 2020
                                                                                                                    • Younger Spaniards predominant among in-store buyers
                                                                                                                      • Figure 37: Spain: Demographic profile of El Corte Inglés, in-store shoppers, January 2020
                                                                                                                    • ECI still appeals more to affluent shoppers
                                                                                                                      • Figure 38: Spain: Demographic profile of El Corte Inglés, online shoppers, January 2020
                                                                                                                  • What They Buy

                                                                                                                    • Fashion remains the predominant category
                                                                                                                      • Figure 39: Spain: Products purchased in-store and online from a department store, January 2020
                                                                                                                      • Figure 40: Spain: Products purchased in-store and online from a department store, by channel, January 2020
                                                                                                                      • Figure 41: Spain: Products purchased in-store and online from a department store, by age, January 2020
                                                                                                                      • Figure 42: Spain: Products purchased in-store and online from a department store, by gender, January 2020
                                                                                                                  • Attitudes to Shopping at Department Stores

                                                                                                                    • Enjoyable experience in-store is key
                                                                                                                      • ECI is considered expensive but extra services are strategic
                                                                                                                        • Figure 43: Spain: Attitudes to shopping at department stores, January 2020
                                                                                                                      • Exclusivity and visiting as a day out appeals to younger consumers
                                                                                                                        • Figure 44: Spain: Those agreeing with selected attitudinal statements, by age, January 2020
                                                                                                                      • Online shoppers still view department store shopping in better light
                                                                                                                        • Figure 45: Spain: Those agreeing with selected attitudinal statements, by channel used, January 2020
                                                                                                                    • Appendix – Data Sources, Abbreviations and Supporting Information

                                                                                                                      • Abbreviations
                                                                                                                        • Data sources

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