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市場調查報告書

全球百貨商店零售業

Global Department Store Retailing | Verdict Channel Report

出版商 Verdict Retail 商品編碼 346698
出版日期 內容資訊 英文 120 Pages
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全球百貨商店零售業 Global Department Store Retailing | Verdict Channel Report
出版日期: 2014年02月07日 內容資訊: 英文 120 Pages

本報告已在2016年11月24日停止出版

簡介

本報告提供全球百貨商店零售業調查分析、市場規模、市場預測、趨勢、市場佔有率相關資料、市場整體/各地區驗證之系統性資訊。

第1章 概要

第2章 摘要整理

第3章 建議

  • 捉住成長機會是重要的事

第4章 市場規模

  • 市場定義
  • 全球百貨商店市場2014年以3.5%成長
  • 歐洲銷售支出回到2009年等級
  • 北美的市場佔有率持續減少
  • 亞太地區2014年幾乎佔全球支出半數
  • 南美市場2009年∼2014年之間成長75%
  • 中東、非洲的百貨商店市場依然為上升狀態

第5章 市場預測

  • 預測至2019年的5年間成長22.2%
  • 中國主導,北美持續丟失佔有率
  • 成長機會依然歐洲
  • 北美的成長比前面的5年改善
  • 亞太地區的成長到至2019年的5年鈍化
  • 南美市場2019年佔全球支出的5.2%
  • 中東、非洲的成長率今後6年以一位數成長

第6章 趨勢

  • 客戶參與的機會
  • 百貨商店多通路服務
  • 自有品牌應該成為中心
  • 招攬觀光客是不可或缺的

第7章 市場佔有率

  • Macy2014年居首位
  • 營業統計

第8章 調查手法

  • 建立市場規模
  • 預測
  • 匯率
  • 資產資料

第9章 附錄

圖表

目錄
Product Code: VR0009CH

Summary

We saw a decline in global department store expenditure growth in 2013 caused by a slower European recovery and weak Japanese currency rates. However, we forecast that the market will recover in 2014, growing by 3.5% and exceeding $480bn as department stores invest in improving their instore services and multichannel offer to drive shopper expenditure.

Key Findings

  • Make informed investment decisions using department store expenditure forecasts to 2019 for seven defined regions.
  • Benchmark your company's performance by accessing profiles of 12 department store operators including their global market shares.
  • Glean how competitors have expanded internationally, via stores, online, or new retail formats and learn which is most suitable for your business.
  • Understand why tourists are being targeted by department store operators and how they are increasing tourists' spend instore.
  • Learn about Japan's shrinking department store market and how domestic players are investing in new retail formats to halt sales' declines.

Synopsis

Growth between 2014 and 2019 will be driven by strong sales in the Asia Pacific region and much improved growth in America. We expect economies in Europe that have been particularly impacted by the recession to reach a point of recovery, while the squeezing of household incomes will ease, resulting in higher discretionary spending.

North America's share of the global department store market has declined by 4.9 percentage points in the five years to 2014, and we forecast that this will continue to decline gradually as less developed retail markets such as Latin America and Asia Pacific provide department stores with greater opportunities to expand.

According to Verdict's Global Wealth Model, there will be a rise in the number of affluent consumers and burgeoning middle classes across the world. This will aid retail expenditure growth over the next five years, particularly for luxury and premium department stores players, which target those consumers who have seen their incomes rise.

Reasons To Buy

  • Which markets hold the most potential for department store retailers and should I invest in them? What countries are players expanding into?
  • How did department store operators such as Macy's, Sears, Kohl's, Nordstrom, JCPenney and Isetan Mitsukoshi perform last year?
  • What can I learn from luxury players on instore experience and what changes shall I make to customer service to stand out from competitors?

Table of Contents

1. Overview

2. Executive Summary

  • 2.1. The global department store market will grow by 3.5% in 2014…
  • 2.2. …and 22.2% growth to $590bn is forecast for the next five years
  • 2.3. Expansion opportunities remain in China, while Japan's recovery will be gradual
  • 2.4. North America will continue to lose share as competition mounts
  • 2.5. Rising consumer affluence and growing tourism will benefit the premium department store market

3. Recommendations

  • 3.1. Seizing growth opportunities becomes vital as consumers opt to spend at specialists
    • 3.1.1. Markets to target
    • 3.1.2. Adapt expansion strategy to suit the local market
    • 3.1.3. Competition in select markets is rife, with specialists continuing to encroach on the channel
    • 3.1.4. Department stores must gain a larger slice of tourism spend
    • 3.1.5. Increase the potential of the online channel
    • 3.1.6. Focus on customer engagement to garner loyalty
    • 3.1.7. Enhance product ranges to maximise spending

4. Market Size

  • 4.1. Market definition
  • 4.2. Global department store market to grow by 3.5% in 2014
    • 4.2.1. Global department store market to exceed $480bn in 2014
    • 4.2.2. Weaker demand in Europe and North America impacts global market in 2013
    • 4.2.3. Softer demand in Japan amid shift in consumer behaviour
    • 4.2.4. China is strongest market, retaining international appeal
    • 4.2.5. Mature markets North America and Europe suffer and lose share…
    • 4.2.6. …while China and Latin America continue to achieve strong growth
  • 4.3. Europe sales expenditure returns to 2009 levels
    • 4.3.1. Subdued economy slows down European department store market recovery
    • 4.3.2. Weaker demand and lack of differentiation impact El Corte Ingles and MandS
    • 4.3.3. Luxury department stores benefit from tourist spend
    • 4.3.4. Retailers invest in product ranges to drive appeal
    • 4.3.5. Favourable exchange rates will boost overseas visitors
    • 4.3.6. Galeries Lafayette looks overseas for growth
  • 4.4. North America's share of the market continues to fall
    • 4.4.1. JC Penney and Sears struggle to compete in a weak market
    • 4.4.2. North America continues to lose share as its market matures
    • 4.4.3. JC Penney's repositioning strategy confuses shoppers
    • 4.4.4. Sears loses relevance among shoppers
    • 4.4.5. Canada benefits from premium players expanding
    • 4.4.6. Nordstrom's instore environment and customer service drive sales
    • 4.4.7. Relaxation of visa restrictions will boost tourism and lead to higher expenditure growth
    • 4.4.8. Department stores capitalise on sales potential within the beauty sector
  • 4.5. Asia Pacific region to account for almost half of global expenditure in 2014
    • 4.5.1. Regional growth to rebound in 2014, outperforming the global market
    • 4.5.2. Japanese market to contract by 7.3% in five years to 2014
    • 4.5.3. Asia Pacific ex Japan and China forecast to exceed $40bn in 2014
  • 4.6. Latin American market to grow by 75% between 2009 and 2014
    • 4.6.1. Department store market records second fastest growth, behind China
    • 4.6.2. Global slowdown impacts Latin American economy…
    • 4.6.3. …but recovery expected in 2014, especially in Brazil
    • 4.6.4. Credit availability supports expenditure growth
    • 4.6.5. Expansion remains a focus for domestic incumbents
    • 4.6.6. Sporting events bring focus to Brazil, but will have minimal impact on spending
  • 4.7. Department store market in the Middle East and Africa remains buoyant
    • 4.7.1. Growth exceeds total market in 2013
    • 4.7.2. Remains a resilient market but holds a minimal share of global expenditure
    • 4.7.3. African market forecast to grow by 35.2% between 2009 and 2014
    • 4.7.4. Rising affluence aids spending
    • 4.7.5. Political unrest reduces appeal of Middle East…
    • 4.7.6. ...though recent figures show stronger tourism levels
    • 4.7.7. Intense competition in the premium to luxury segment in the Middle East…
    • 4.7.8. …but the market holds potential for midmarket players

5. Market Forecast

  • 5.1. 22.2% growth forecast for five years to 2019
    • 5.1.1. Global department store market to reach $590bn in 2019
    • 5.1.2. On-going rise in affluent consumers to aid premium department store market…
    • 5.1.3. …encouraging shoppers to travel and spend overseas
    • 5.1.4. Expansion opportunities lie in Eastern Europe
  • 5.2. North America will continue to lose share as China grows its lead position
  • 5.3. Growth opportunities remain across Europe
    • 5.3.1. European recovery will be gradual
    • 5.3.2. Mature markets impacted by economic downturn will gradually rebound
    • 5.3.3. Transformation for House of Fraser underway in the next two years
  • 5.4. North America's growth much improved on preceding five year period
    • 5.4.1. A turnaround is expected for JC Penney, though there will be no quick wins
    • 5.4.2. Future looks bleak for Sears Canada as competition intensifies in the region…
  • 5.5. Asia Pacific growth to slow in the five years to 2019
    • 5.5.1. China's department store market to grow by 38% between 2014 and 2019
    • 5.5.2. Subdued growth forecast for Japanese market
    • 5.5.3. Asia Pacific excluding Japan and China forecast to exceed $60bn in 2019
  • 5.6. Latin American market to account for 5.2% of global expenditure in 2019
    • 5.6.1. Growth of 41% in Latin America presents opportunity for players
    • 5.6.2. Midmarket and premium department store chains must take advantage of growing affluence
    • 5.6.3. Potential for market entry in less competitive markets
    • 5.6.4. Growth opportunities for e-commerce in the region
  • 5.7. Growth in the Middle East and Africa to remain in single digits in coming six years
    • 5.7.1. Region still forecast to hold minimal share of global market
    • 5.7.2. Shopping mall roll out provides growth opportunities, but rapid turnover ensures caution is required
    • 5.7.3. Growing appeal of mono-brand retailing puts pressure on department stores
    • 5.7.4. Online retailing not forecast to take off
    • 5.7.5. Stronger growth forecast for Africa

6. Trends

  • 6.1. Customer engagement opportunities to drive loyalty
    • 6.1.1. Building loyalty among shoppers is paramount for department stores to maintain relevance
    • 6.1.2. Brand personality provides a point of differentiation
    • 6.1.3. A superior instore experience is required to compete with specialists and engage shoppers
  • 6.2. Department stores must relentlessly improve their multichannel offer
    • 6.2.1. New transactional websites remain a cheaper and less risky method of expansion
    • 6.2.2. Players now need to do more than just provide a user-friendly site...
    • 6.2.3. Annual delivery passes, lockers and click and collect will enhance online shopping convenience
    • 6.2.4. Luxury players must compete with pureplay rivals on editorial content
    • 6.2.5. Department store players must drive better online conversion rates
  • 6.3. Private label should be central to the department store proposition
    • 6.3.1. Private label ranges drive footfall and loyalty
    • 6.3.2. Rationalisation of brand portfolios required to avoid confusion…
    • 6.3.3. …but segmentation is key
    • 6.3.4. More activity at the premium end expected…
    • 6.3.5. Designers provide more long-term prospects than celebrities
  • 6.4. Attracting tourists is imperative due to their high spending power
    • 6.4.1. Increased tourism will boost department store expenditure in mature markets
    • 6.4.2. World Tourism Organisation expects influx of international arrivals by 2020
    • 6.4.3. Relaxation of visa restrictions will lead to higher expenditure growth
    • 6.4.4. Department stores have introduced visitor discounts to encourage tourists' spending
    • 6.4.5. And are ensuring their instore services and product offering cater to foreign visitors

7. Market Shares

  • 7.1. Macy's to maintain lead in 2014
    • 7.1.1. Marks and Spencer's international business helps to protect market share
    • 7.1.2. Smaller players steal share from larger players
    • 7.1.3. Challenges remain for losing US players
  • 7.2. Operating statistics

8. Methodology

  • 8.1. Building up the market size
  • 8.2. Forecasts
  • 8.3. Exchange rates
    • 8.3.1. Global Wealth Model methodology
    • 8.3.2. Forecasting methodology
  • 8.4. Datamonitor's wealth data
    • 8.4.1. Definitions

9. Appendix

  • 9.1. About Verdict Retail
  • 9.2. Disclaimer

List of Tables

  • Table 1: Global department store expenditure ($bn), 2009-14e
  • Table 2: Global department store expenditure by region ($bn), 2009-14e
  • Table 3: Year-on-year growth of global department store expenditure by region in dollar terms (%), 2009-14e
  • Table 4: Share of global department store expenditure by region (%), 2009-14e
  • Table 5: European department store expenditure ($bn/€bn), 2009-14e
  • Table 6: North American department store expenditure ($bn), 2009-14e
  • Table 7: Asia Pacific department store expenditure ($bn), 2009-14e
  • Table 8: Chinese department store expenditure ($bn), 2009-14e
  • Table 9: European department store expenditure ($bn/€bn), 2009-14e
  • Table 10: Asia ex Japan and China department store expenditure ($bn), 2009-14e
  • Table 11: Latin American department store expenditure ($bn), 2009-14e
  • Table 12: The Middle East and Africa department store expenditure ($bn), 2009-14e
  • Table 13: Global department store expenditure ($bn), 2014e-19e
  • Table 14: Global department store expenditure by region ($bn), 2014e-19e
  • Table 15: Year-on-year growth of global department store expenditure by region (%), 2014e-19e
  • Table 16: Share of global department store expenditure by region (%), 2014e-19e
  • Table 17: European department store expenditure ($bn/€bn), 2014e-19e
  • Table 18: North American department store expenditure ($bn), 2014e-19e
  • Table 19: Asia Pacific department store expenditure ($bn), 2014e-19e
  • Table 20: Asia Pacific department store expenditure ($bn), 2014e-19e
  • Table 21: Japanese department store expenditure ($bn/¥bn), 2014e-19e
  • Table 22: Asia Pacific (ex. Japan and China) department store expenditure ($bn), 2014e-19e
  • Table 23: Latin American department store expenditure ($bn), 2014e-19e
  • Table 24: Latin American department store expenditure ($bn), 2014e-19e
  • Table 25: Leading department store operators' global market shares (%), 2009-14e
  • Table 26: Leading global department store operators by revenue ($m), 2009-14e
  • Table 27: Leading global department store operators by revenue growth (%), 2009-14e

List of Figures

  • Figure 1: Global department store expenditure ($bn), 2009-14e
  • Figure 2: Share of department store expenditure by region (%), 2009 and 2014e
  • Figure 3: European department store expenditure ($bn), 2009-14e
  • Figure 4: North American department store expenditure ($bn), 2009-14e
  • Figure 5: JC Penney online, 2013
  • Figure 6: Asia Pacific department store expenditure ($bn), 2009-14e
  • Figure 7: Asia Pacific regional splits (%), 2009 and 2014e
  • Figure 8: Chinese department store market will grow by 76.6% between 2009 and 2014
  • Figure 9: Japanese department store expenditure ($bn), 2009-14e
  • Figure 10: Asia ex Japan and China department store expenditure ($bn), 2009-14e
  • Figure 11: Galeries Lafayette store in Jakarta, Indonesia
  • Figure 12: Latin American department store expenditure ($bn), 2009-14e
  • Figure 13: El Palacio de Hierro's 'Dias Amarillos' promotional events
  • Figure 14: The Middle East and Africa department store expenditure ($bn), 2009-14e
  • Figure 15: International department store operators in the Middle East
  • Figure 16: Global department store expenditure ($bn), 2014e-19e
  • Figure 17: Share of department store expenditure by region (%), 2014e and 2019e
  • Figure 18: European department store expenditure ($bn), 2014e-19e
  • Figure 19: North American department store expenditure ($bn), 2014e-19e
  • Figure 20: Asia Pacific department store expenditure ($bn), 2014e-19e
  • Figure 21: Chinese department store expenditure ($bn), 2014e-19e
  • Figure 22: Japanese department store expenditure ($bn), 2014e-19e
  • Figure 23: Asia Pacific (ex. Japan and China) department store expenditure ($bn), 2014e-19e
  • Figure 24: Latin American department store expenditure ($bn), 2014e-19e
  • Figure 25: The Middle East and Africa department store expenditure ($bn), 2014e-19e
  • Figure 26: Wig fair at Takashimaya's Shinjuku branch, 2013
  • Figure 27: JC Penney's revised pricing strategy, 2012
  • Figure 28: JC Penney's Facebook message, May 2013
  • Figure 29: Lane Crawford's Beauty+ card, January 2014
  • Figure 30: Central Department Store app, January 2014
  • Figure 31: Myer's Twitter feed, January 2014
  • Figure 32: John Lewis Christmas advertising campaign, 2011
  • Figure 33: Holt Renfrew's blog, holts muse, January 2014
  • Figure 34: Harvey Nichols UK advertising campaign, 2012
  • Figure 35: Macy's Herald Square shoe salon, New York, 2012
  • Figure 36: Selfridges' email and transactional website, January 2014
  • Figure 37: Selfridges' Festival of Imagination, 2014
  • Figure 38: Online recommendations by region, 2014
  • Figure 39: MandS German and Sears Puerto Rico transactional websites, 2014
  • Figure 40: Barneys' featured favourites, 2014
  • Figure 41: Intime's Alipay Wallet, 2013
  • Figure 42: House of Fraser's click and collect department, Aberdeen
  • Figure 43: Net-a-Porter live, 2013
  • Figure 44: Google search results for 'blue men's shirt' and 'women's cocktail dress', 2014
  • Figure 45: Benefits of private label in department stores, 2014
  • Figure 46: Chester and Peck, El Palacio de Hierro, Mexico
  • Figure 47: Debenhams' House of Holland range by designer Henry Holland, September 2013
  • Figure 48: Harrods Gatwick, 2013
  • Figure 49: Macy's visitor discount and Takashimaya's tourist privileges passport, 2013
  • Figure 50: Harrods QR code for WeChat, 2013
  • Figure 51: Market shares of leading global department store operators (%), 2014e on 2009
  • Figure 52: Winners and losers in the global department store market, 2014
  • Figure 53: Revenue of leading department store operators ($bn), 2014e on 2013e
  • Figure 54: Operating margins of leading department store operators (%), 2013
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