Selling everything from apparel and footwear to food, homewares, toys and books, El Corte Inglés (‘the English cut’ – it was originally a tailor’s shop whose origins stretch back to the 19th century) is the only notable department store chain in Spain, accounting for almost all retail value sales in this category. El Corte Inglés is synonymous with the term ‘department store’ in the minds of local consumers.
Having plunged by almost a third in 2020, the retail current value sales of department stores recovered only partially during 2021. Even before the onset of the pandemic, retail current value sales through this channel had been under pressure due to the emergence of e-commerce, but COVID-19 accelerated this trend.
International tourists have traditionally been a significant source of demand for department stores in Spain. However, international tourist arrivals virtually ground to a halt during spring 2020 and remained relatively subdued in 2021.
El Corte Inglés will double down on its omnichannel strategy during the forecast period. It will also look to expand into new lines of business.
The annual rate of growth in the retail current value sales of department stores will slow over the course of the review period and remain well below its pre-pandemic level, with the growing popularity of e-commerce its main source of weakness. On the other hand, demand growth will be supported by an anticipated post-pandemic economic rebound and a revival in inbound tourism, particularly from such places as Latin America, the Middle East, Russia and China.
In the forecast period, department stores will continue to concentrate their efforts on making the customer experience the centre of strategy. In this regard, the foodservice offer through department stores will continue to increase in importance, with El Corte Inglés becoming a reference for “foodies”, not only amongst local consumers but also foreign tourists who are attracted to classic Mediterranean flavours and dishes.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the Department Stores industry in Spain with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Department Stores industry in Spain, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Outlets selling mainly non-grocery merchandise and at least five lines in different departments, usually with a sales area of over 2,500 sq metres and arranged over several floors. Example brands include Macy’s, Bloomingdale’s, Marks & Spencer, Harrods, Sears, JC Penney, Takashimaya, Mitsukoshi, Daimaru, Karstadt, Rinascente.See All of Our Definitions
This report originates from Passport, our Department Stores research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!