Louay Y1 28/10-11
Handelsgymnasiet,
Viborgvej Afsætning
Desigual
Opgave 1
Opgave 2
Opgave 3
.
Opgave 4
Opgave 5
Opgave 6
Opgave
7: HEADLINES
Clothing and footwear specialist
retailers reaches sales of EUR18.942 million in 2010; 4% less than
the previous year in current value terms
The economic downturn continues to
hamper sales within this channel
Inditex, Industria de Diseño Textil
SA continues to lead clothing and footwear specialist retailers with
a 18% value share in 2010
Clothing and footwear specialist
retailers is expected to increase by 7% overall in constant value
terms over the forecast period, reaching sales of EUR20,288 million
by 2015
TRENDS
The economic background continued to
affect the lifestyles of Spaniards throughout 2010. Even though the
hardest times seem to be over, the unemployment rate and disposable
incomes stayed at levels similar to those seen in the previous year.
The lack of trust and the overall uncertainty regarding the future
also affected the channel. Consumers maintained patterns of
purchasing acquired during the worst times of the economic downturn:
caution, rationality, cutting impulse purchases and special
attention to price/quality.
The economic downturn had a direct
impact on the performance of a mature channel such as clothing and
footwear specialist retailers, which in 2010 experienced a decline
in sales of 4% in current value terms. However, the drop was not as
sharp as in the previous year, which can be perceived as a sign of
the start of economic recovery. The drop in sales just shows how
badly the channel as a whole was hit: according to the most recent
official data, the textile manufacture index of production dropped
by over 20% in 2009, being one of the most affected industry by the
economic downturn in Spain.
As a result of the economic
downturn, in 2010 the number of outlets declined by 1%, reaching
73,711 outlets in total. With a few exceptions, the main chains were
forced to slow down their pace of expansion as demand decreased. The
“others” segment (small independent outlets), which accounted
for 83% of the overall channel in terms of selling space in 2010,
recorded a drop of 0.7 of a percentage point; not only because of
the economic downturn, but also because of the sound leadership of
the main players.
Children’s clothing and footwear
continued to gain share. Some of the factors behind the success of
this segment are: growing specialisation; the proliferation of new
outlets and chains only for children (such as Prenatal); and the
birth boom recorded over the review period, which reached its peak
in 2008.
Clothing and footwear specialist
retailers is a mature channel, featuring a medium level of
concentration and a remarkable number of important players, both
national and foreign, leading sales due to their wide geographical
coverage and know-how regarding fashion. The four leaders in terms
of sales, Inditex, Industria de Diseño Textil SA, Cortefiel SA,
Hennes & Mauritz SL and C&A Modas SL, accounted for 32.8% of
retail value sales in 2010.
Inditex continued to lead clothing
and footwear specialist retailers, accounting for a 18% share in
volume terms in 2010, which was growth of 0.4% points if compared
with the previous year. The reasons behind this sound success are:
its brand recognition, especially its flagship brand Zara; its
diverse portfolio, targeted towards consumers from different age
ranges and socio-economic profiles; its financial base, which allows
it to start ambitious expansion projects; its geographical coverage;
and the excellent location of its outlets, which are always in
central areas, in addition to promotions, discounts and a range of
specific products targeted towards consumers living in a background
of economic downturn.
The most dynamic player in 2010 was
Sepaleleme SL, as its share increased by 0.2 of a percentage point.
The rapid expansion of its chain Desigual was the reason for this
phenomenon; in two years it increased from 52 outlets, to 80 in
2010. The outlets feature a bold and modern design, and the only
brand sold is its own, with colourful clothes which are especially
popular amongst youngsters and teenagers. Desigual, the brand name,
can be translated as “un-equal”; another way of meaning
“different” or “not mainstream”, and this shows the spirit
of the brand: different clothes for different people in different
outlets.
The national chain Adolfo Domínguez
suffered a marginal decline in share in 2010, standing at a value
share of less than 1% in 2010. The fact that its products have
higher prices than average and are targeted towards consumers with
higher purchasing power was a burden in the economic downturn. The
company has started closing its non-profitable outlets as a measure
to balance its accounts.
Spain has a strong presence in the
competitive clothing and footwear specialist retailers channel.
Large local players lead (Inditex and Cortefiel), and many others
feature a great level of dynamism and expansion, such as Punto Fa
(Mango), El Corte Inglés (Sfera) and Sepaleleme SL (Desigual),
leaving aside the large number of independent players present in the
channel. As far as international chains are concerned, the most
important are C&A Modas SL from the Netherlands, and Hennes &
Mauritz SL from Sweden. They stood in third and fourth place
respectively with regard to share in 2010, and have been present in
Spain for many years. Besides, they have large outlets and high
turnover.
Clothing and footwear specialist
retailers is expected to record overall constant value growth of 7%
over the forecast period. However, it is already a mature channel,
and consumers will still be careful when spending. Therefore, the
ability to supply good quality products at popular prices will be
the key to gaining share.
Opgave
8 Consumer
Lifestyles in Spain Consumer Lifestyles 12 Jan 2011 Shopping
for Clothes, Shoes and Luxury Goods In 2009 the clothing market
was valued at over €22 billion in Spain and the footwear market at
€6.5 billion. During the review period overall expenditure on
clothing and footwear decreased by 2.8% annually (in constant value
terms), with clothing (-2.9%) being slightly less affected by the
economic crisis than footwear (-7.4%). Starting in 2008 the
clothing and footwear sectors showed negative growth, with the
exception of the clothing cleaning, repair and hire segment which
managed to grow in value terms at 2.6% between 2007 and 2008 (as
compared to 7.7% between 2006 and 2007); while in 2009 growth ground
to a halt (showing just 0.6% value growth as compared to 2008) it is
estimated to be the only subsector to return to positive growth by
2010, due to show 4.6% value growth as compared to 2009. Mixed
retailers dominated the clothing and footwear distribution channels
over the review period. In 2009, 22% of clothing sales were made by
mixed retailers as compared to 31% for footwear. While mixed
retailers gained value market share in the clothing segment (growing
at 1.8% annually over the review period), they lost market share in
the footwear segment (decreased annually by 0.6% over the review
period). Specialist shops meanwhile made more money from clothing
than footwear, with clothing representing 54% of their retail value
in 2009 as compared to just 20% for footwear. That said, clothing
lost in importance (shrinking by almost 1% year-on-year over the
review period) while footwear gained in importance (increasing by
over 1% year-on-year over the review period). Luxury goods have
been strongly hit by the economic slowdown as disposable income and
consumer confidence decreased. Politicians’ claims that recovery
was just around the corner weren’t enough to convince Spaniards to
spend in 2009 and 2010. For example, in value terms, the premium
segment in fragrances was more negatively affected by the crisis than
the mass market. It became “trendy to be thrifty”. Non-store
retailing gained in importance over the review period (constant value
annual growth of 7.8%), in fact it was the only distribution channel
profiting from the economic slowdown. Especially noteworthy was
internet retailing which showed significant growth, albeit due to
starting from a small base (still only represented less than 1% of
retail value sales in 2009). In traditional retail channels
Spaniards preferred to purchase their luxury goods in mixed retail
outlet or in specialised (leisure) retailers. For jewellery the first
choice was the specialist retailer with 58% of retail value in 2009.
With 39.6% of retail value the mixed retailer was choice number two.
For travel goods the proportions were inverted, (29.8% and 54.9%
respectively). Watches showed a very similar trend to travel goods
(52.7% in specialist retailer versus 41.8% in mixed retail
outlet). Non-traditional retail channels were more important for
luxury goods than mass market products. In 2009, 5% of total retail
value sales for watches came from home shopping (2.2%) and the
internet (3%); with a strong tendency to increase for the latter one
(13.4% annual value growth over the review period). Online jewellery
also rose, showing annual gains of over 22% in value terms
(accounting for almost 2% of total retail value in 2009) and travel
goods showing gains of 8% in value terms over the review period an
accounting for 2.2% of retails sales in 2009. Impact For luxury
goods the economic recession modified the approach taken by new
premium fragrances launches, with an increasing focus on point of
sale advertising. Consumers continued to demand premium fragrances,
but less often and in smaller packaging than previously, as they
tried to find more affordable means to keep buying their favourite
brands. The watch sector was being threatened by new technologies,
including mobile phones, PDAs and MP3 players, all of which were able
to tell time, and which were in turn increasingly replacing watches,
especially among young people. Watches are likely to become ever more
associated with the premium segment and a prolonged recession would
represent another serious setback for the industry. As disposable
income continues to decrease, sales of costume jewellery is expected
to grow much more rapidly than real jewellery, as costume jewellery
becomes a more mainstream product for those who prefer to have more
jewellery pieces of lower value.
Table 59 Consumer Expenditure
on Clothing and Footwear (Current Value): 2005-2009 EUR million
2005 2006 2007 2008 2009 Clothing 22,489 23,139 24,001 23,896
22,088 Clothing materials 142 133 127 116 98 Garments 21,565
22,152 22,929 22,777 21,002 Other clothing 513 552 610 645
629 Clothing cleaning, 269 303 335 358 359 repair and hire
Footwear 6,485 6,722 7,027 7,007 6,462 TOTAL 28,973 29,861
31,029 30,902 28,550 Source: National statistical offices, OECD,
Eurostat, Euromonitor International
Table 60 Consumer
Expenditure on Clothing and Footwear (Constant 2009 Value):
2005-2009 EUR million 2005 2006 2007 2008 2009 % Growth Clothing
24,836 24,685 24,912 23,828 22,088 -11.1 Clothing materials 157
142 132 116 98 -37.2 Garments 23,816 23,632 23,799 22,713 21,002
-11.8 Other clothing 567 588 633 643 629 10.9 Clothing
cleaning, 297 323 348 357 359 21.0 repair and hire Footwear
7,162 7,172 7,294 6,987 6,462 -9.8 TOTAL 31,998 31,856 32,206
30,815 28,550 -10.8 Source: National statistical offices, OECD,
Eurostat, Euromonitor International Notes: Constant value at 2009
prices
Table 61 Consumer Expenditure on Clothing and
Footwear (Constant 2009 Value): 2010-2020 EUR million 2010 2015
2020 % Growth % CAGR Clothing 21,304 18,767 16,581 -22.2
-2.5 Clothing materials 86 48 27 -68.9 -11.0 Garments 20,208
17,511 15,106 -25.2 -2.9 Other clothing 634 704 785 23.9
2.2 Clothing cleaning, 376 503 663 76.1 5.8 repair and hire
Footwear 6,296 5,723 5,202 -17.4 -1.9 TOTAL 27,601 24,490
21,783 -21.1 -2.3 Source: National statistical offices, OECD,
Eurostat, Euromonitor International
Opgave 9
Thirty-somethings
The
consumer segment of thirty-somethings grew by more than 2% annually
from 2005 to 2009, which corresponds to an accumulated growth of
8.6%. It is estimated that this growth will continue throughout 2010
but then start declining by almost 2% annually until 2020. Until 2015
only an accumulated decrease of close to 4% is expected to be
recorded; this is expected to speed up considerably from 2015 to 2020
to an accumulated decline of almost 14%.
Due
to this slowing growth the overall proportion of thirty-somethings
will decrease from 17.3% in 2010 to only 13.4% in 2020. As in most
Western countries there will be an increase in the retired population
and a decrease in the working population which will result in a
problem of maintaining the state pension system.
In
this segment there are mainly two groups: the ones that just got
married, with a mortgage and one or two infants/babies in tow, and
the ones that finally decided to move out of their parent’s house
and move into shared accommodation. During the review period, it was
very common for thirty-somethings with regular jobs to share flats,
as it is was very difficult to pay the full rent with just one
salary, especially in city centre locations. On the outskirts or in
smaller cities prices were usually lower, but so were salaries so the
result was basically the same. Those living in shared accommodation
more or less continued to live the twenty-somethings lifestyle.
Those
who were married were prone to start spending the main proportion of
their household income on mortgage repayments and kids’ products
such as health food, clothing, kindergarten and pre-school fees and
extracurricular activities.
During
the review period an important consumer sub-segment within the
thirty-somethings was the gay community. Generally they were in
professions with above average salaries and appreciated luxury/high
quality products (clothes, accessories, furniture, jewellery,
education and organic food) in all aspects of life. In many areas
they functioned as trendsetters in society.
Statistikbanken
Opgave
1Opgave
2
Opgave 3
Opgave 4
Opgave 5
Opgave 6
Opgave 7
Opgave
8
| |