Retailing in Spain 2008

SUMMARY

Abstract

Overview

Introduction

Verdict Research: After years of explosive growth, Spain's housing market has started to contract propelling Spanish retailing into a new phase. Whereas price has been the dominant issue in grocery and clothing for years, now the other sectors will feel the full impact of the discount bug against a toughening outlook for the home related sectors specifically.

Scope

• This report provides accurate insights into key trends, future developments and discusses the strategies of the main operators in the market.
• Proprietary data on market value, specialists sales and growth. 2002-2007 data for six different retail sectors and overall value data for Spain.
• Detailed sector analysis for grocery, DIY, electricals, furniture, clothing (including department stores) and out-of-town retailing is provided.
• Market shares for leading retailings in each sector and insightfull analysis into their operating strategies.

Report Highlights

On the back of buoyant growth in the past, Spain's GDP has overtaken Italy and is now a mature economy. While this has given cause for celebration and is apart from Spain's hard work also testament to the success of the EU, its integrative powers and its common market, a new chapter in Spanish history has been opened.

Spain's housing market has gone into reverse and the bubble has finally burst. While Spanish banks on the whole have been prudent and not participated in the sub prime folly, they rely on wholesale funding for much of the credit they extend to the construction sector. In times of the credit crunch the access to easy money has dried up.

Despite all this doom and gloom we see a number of opportunities in Spanish retailing: the liberalization of pharmacies regulations, a still underdeveloped Out Of Town sector and more hypermarket development, and the severely underdeveloped multi channel offer will present significant growth avenues.

Reasons to Purchase

• Understand strategic issues in the market, retailers' responses and our recommendations on how retailers must cope with the changing market.
• Learn about major Spanish players including Cortefiel, El Corte Ingles, Eroski, Grupo Rey, Grupo Prometheus, Inditex, Mango, Mercadona, Merkamueble
• Discover how the market and retailers' future initiatives will develop. Find growth opportunities in specific sectors and identify the key threats.

TABLE OF CONTENTS

Table of Contents

• CHAPTER 1 EXECUTIVE SUMMARY
  • Key Findings
  • Main Conclusions
• CHAPTER 2 SPAIN - ECONOMIC OVERVIEW
  • Key Findings
  • Main Messages
  • GDP
  • Inflation
  • Interest Rates
  • Employment
  • Population Growth by Country: Spain vs EU25
• CHAPTER 3 SPANISH RETAIL MARKET
  • Spanish Retail Market Size
• CHAPTER 4 FOOD & GROCERY
  • Market Summary
  • Recent Developments & Trends
  • Shares of Grocery Retailers in Spain
  • Outlook for Grocery Retailing in Spain
• CHAPTER 5 CLOTHING & FOOTWEAR
  • Market Summary
  • Recent Developments & Trends
  • Shares of Clothing Retailers in Spain
  • Department Stores
  • Recent Developments & Trends
  • Outlook for Clothing Retailing in Spain
• CHAPTER 6 DIY
  • Market Summary
  • Recent Developments & Trends
  • Shares of DIY Retailers in Spain
  • Outlook for DIY Retailing in Spain
• CHAPTER 7 ELECTRICALS
  • Market Summary
  • Recent Developments & Trends
  • Shares of Electricals Retailers in Spain
  • Outlook for Electricals Retailing in Spain
• CHAPTER 8 FURNITURE
  • Market Summary
  • Recent Developments & Trends
  • Market Shares of Leading Furniture Retailers in Spain
  • Outlook for Furniture Retailing in Spain
• CHAPTER 9 OUT-OF-TOWN RETAILING IN SPAIN
  • Country Analysis
  • Retail Warehouse Space
  • Legislation and Planning Issues
  • Retail Warehouse Parks
  • Outlook
• CHAPTER 10 STRATEGIC ISSUES
  • Housing Market Bubble Bursts ...
  • ... Tougher Outlook for Retail
  • Not All Doom and Gloom
  • Still Some Catching Up To Do
  • Pharmacy Liberalisation
  • OOT Development
  • Internet
  • Outlook
• CHAPTER 11 GLOSSARY
  • Definitions
  • Abbreviations
• List of Tables
  • Table 1: Spanish retail market size 2002-2007e
  • Table 2: Spain grocery retail snapshot 2002-2007
  • Table 3: Spain grocery market share 2007e
  • Table 4: Spanish clothing expenditure & specialistsales 2002-2007e
  • Table 5: Spanish clothing specialists 2002-2007e
  • Table 6: Spain clothing specialists market shares 2007e
  • Table 7: Spain DIY expenditure & specialist sales2002-2007
  • Table 8: Spain DIY specialists 2002-2007
  • Table 9: Spain DIY market shares 2007e
  • Table 10: Spain electricals expenditure & specialistsales 2002-2007e
  • Table 11: Spain electricals specialists 2002-2007e
  • Table 12: Spain electricals market shares 2007e
  • Table 13: Spain furniture expenditure & specialistsales 2002-2007
  • Table 14: Spain furniture specialists 2002-2007e
  • Table 15: Spain furniture market shares 2007e
  • Table 16: Spain OOT sales 2002-2007e
  • Table 17: Spain selling space 2002-2007
  • Table 18: Leading retail warehouse parks by space 2007
• List of Figures
  • Figure 1: Spain GDP 1999-2009
  • Figure 2: Spain GDP forecast 2007, 2008e & 2009e
  • Figure 3: Spain vs Eurozone HICP inflation 2002-2007
  • Figure 4: ECB interest rates 2001-2007
  • Figure 5: Total unemployment Spain vs Eurozone/EU2002-2007
  • Figure 6: Forecast population growth (%) Spain vs EU25 -2015 on 2005
  • Figure 7: El Corte Ingl&eatue;s , Córdoba 2008
  • Figure 8: Spanish house price growth 1997-2007
  • Figure 9: Impacts on retailing in Spain 2008
  • Figure 10: Opportunities in Spain 2008
  • Figure 11: Mean consumption spend per adult equivalent1999 and 2005
  • Figure 12: Spain retail sales forecast 2002-2012