Electronics and Appliance Specialist Retailers in Spain

PROSPECTS

Electronics and appliance specialist retailers attempt to facilitate the coexistence of physical and online platforms

The trend to adopt an omnichannel strategy amongst electronics and appliance specialist retailers in Spain has led to continued stronger current value growth through e-commerce than store-based outlets, with the number of stores through this channel continuing to gradually decline in 2019, a trend that will persist into the forecast period. However, retailers are still attempting to develop a way to facilitate the coexistence of physical and online channels to enhance the overall consumer experience.

Enthusiasm amongst Spaniards to regularly upgrade smartphones offers retailers leasing opportunities

Spaniards are enthusiastic adopters of new technology, particularly mobile phones, with the mobile internet penetration rate in the country being one of the highest in Europe. This is also supporting the impressive performance by mobile e-commerce in Spain, as consumers increasingly perform a number of activities on their smartphones including the downloading of apps such as digital wallets which allow them to may proximity payments in store, or place orders online.

Consumers demand greater convenience and proximity

The increasing demand for greater convenience amongst Spaniards due to their changing purchasing habits is also influencing electronics and appliance specialist retailers, as consumers prefer to visit outlets closer to their homes rather than have to visit stores that tend to be located in commercial areas on the outskirts of cities. This has encouraged an increasing number of retailers to relocate smaller stores within city areas in order to be closer to consumers, initially witnessed by Fnac, which prompted Media Markt to follow suit.

COMPETITIVE LANDSCAPE

Media Markt retains convincing lead of channel as it continues to invest in omnichannel strategy

Media Markt Saturn Administración España, SAU retained its convincing lead of electronics and appliance specialist retailers in 2019, leaving some distance between itself and its nearest competitor Sinersis Spain & Portugal (Tien 21, Milar, Euronics). Media Markt is a well-known and trusted name in Spain, appealing to consumers through its deals, which offer interest-free financing options for purchases over EUR100 via instalments payable up to 30 months.

Worten expands consumer reach by launching marketplace

Worten continued to gradually gain value share in 2019 as it continued to expand its outlet network in addition to looking at various retail solutions where its physical and digital platforms complement each other, not only in terms of where the purchase is made but also in logistics terms. Worten has therefore been restructuring its e-commerce site to make it more efficient and user friendly, enabling consumers to navigate the site more easily and find helpful information on various products.

The Phone House enters into direct competition with Amazon

The Phone House entered into direct competition with Amazon when it launched its own online marketplace in Spain at the end of the review period. The retailer intends to offer up to 150 sellers, of both Spanish and international origin, which will allow it to offer 470 new product categories on its platform as it moves into the forecast period.

Files are delivered directly into your account within a few minutes of purchase.