The Future of Retailing in Spain to 2017Product Synopsis
Introduction and Landscape
- Future forecasts and historic market data can improve market and strategic planning.
- Understand which channels and products will be the major winners and losers in the coming years.
- Know the share of sales between different products in your key channels and how this will develop.
- Assess the impact of economic recession and recovery on market growth.
Why was the report written?
The Future of Retailing in Spain to 2017 is based upon an extensive, cross-country, industry research program which brings together Canadean’s research, modelling, and analysis expertise in order to develop uniquely detailed market data. It provides detailed quantitative analysis of past and future trends - crucially providing retail sales data not just by channel and by product, but showing product sales through different channels. This allows marketers interested in retailing to determine how to account for the development of retail trade overall and to know which channels are showing growth for which products in the coming years. It aims to capture the shift to new channels depending on the country, the effects of recession, and shifting consumer behavior; thereby providing timely, highly comparable analysis of the retail markets. Data sets are provided for 2007 through to 2017, with actuals being provided for 2012. All initial market sizing and analysis is conducted in local currency in order to ensure local trends are reflected in the data before conversion into other currencies.
What is the current market landscape and what is changing?The retail market in Spain declined at a CAGR of 0.38% from 2007-12 and is expected to grow at a CAGR of 1.03% from 2012-17
What are the key drivers behind recent market changes?
Consumers have been reacting to the effects of the global recession and the following recovery period on their discretionary spending – retail markets have been no exception. While the country by country market changes have varied, nowhere has been left totally untouched. This report quantitatively examines the components of change in the market by looking at historic and future growth patterns – how changes in consumers’ behavior have affected the retail sector for different product categories and channels.
What makes this report unique and essential to read?
This report provides detailed data on the size and development of retail sales of individual product types through specific retail channels and formats in Spain. It provides a detailed and comprehensive quantitative analysis of the trends affecting market development through both historic and forecast data.Key Features and Benefits
Detailed category coverage is provided, covering 25 products, across eight product groups that include: Apparel, Accessories and Luxury Goods, Book, News and Stationery, Electricals and Electronics, Food and Grocery, Furniture and Floor Coverings, Home and Garden Products, Music, Video and Entertainment Software, and Sports and Leisure Equipment.
Detailed channel coverage is provided, covering 17 products, across four channel groups that include: General Retailers, Specialist Retailers, Value Retailers, and Online Retailers.
Forecasts allow marketers to understand the future pattern of market trends, from winners and losers to category and channel dynamics, and therefore quickly and easily identify the key areas in which they want to compete in the future.
Key Market IssuesThe economic difficulty has led to an alarming rise in the rate of unemployment, which now stands at around 26.0%, the highest level recorded.
A weakening economy and rising unemployment have led to a decrease in the average household disposable income, which fell by 8% in 2012 over the previous year.Key Highlights
During the review period, general retailers was the largest channel group with hypermarkets, supermarkets and hard-discounters recording the highest sales among the various channels under general retailers channel group. The convenience stores (including independents) and gas stations channel recorded the second highest sales during the same period.
Tourism in Spain currently accounts for 11% of total GDP and international tourists visiting the country stood at 57.7 million in 2012, an increase of 2.7% when compared to 2011.In the wake of the recession it has become increasingly important for retailers to target tourists, as spending from domestic consumers has reduced.
Spanish consumers have been extremely cautious when it comes to making purchases, due to the weakening economy and high unemployment rates in the country. They remain uncertain about their future and have a tendency to seek bargains when they are making purchases.