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Clothing Retailing - Italy - October 2017

Published By :

Mintel

Published Date : Nov 2017

Category :

Apparel

No. of Pages : N/A

The Italian clothing sector is highly fragmented. But fashion is in the blood of Italians and spending on clothing has remained robust. Things are changing quickly online and the fast fashion retailers are revolutionising how people shop. With the world at their fingertips, shoppers are increasingly choosy and retailers need to give them good reason to shop with them. They need to adapt to changing customer demands, or risk falling by the wayside as Italian retailing modernises.
Table of contents

OVERVIEW
What you need to know
Areas covered in this report
EXECUTIVE SUMMARY
The market
Spending and inflation
Figure 1: Italy: Annual percentage change in consumer spending on clothing and footwear (incl VAT), 2013-17
Channels of distribution
Figure 2: Italy: Estimated distribution of spending on clothing and footwear, 2016
Sector size and forecast
Figure 3: Italy: Annual percentage change in clothing, footwear and textiles specialists sales (excl VAT), 2013-17
Leading players
Market shares
Figure 4: Italy: Leading clothing specialists: Sales as % all spending on clothing and footwear, 2016
Online
The consumer
Where they shop
Figure 5: Italy: Where people shopped for clothes by type of retailer, in-store vs online, September 2017
Attitudes to shopping for clothes
Figure 6: Italy: Attitudes to shopping for clothes, September 2017
What we think
ISSUES AND INSIGHTS
Online is a key driver of growth
The facts
The implications
Environmental and ethical credentials are important to consumers
The facts
The implications
THE MARKET WHAT YOU NEED TO KNOW
Economy weak
Inflation just staying positive
Consumer spending on clothing and footwear slowed in 2016
Specialists dominate the sector
Clothing retailers may see their share of retail sales slip back
SPENDING AND INFLATION
Consumer confidence weak
Figure 7: Italy: Consumer and retailer confidence levels, November 2016-August 2017
Inflation
Figure 8: Italy: Consumer prices of clothing and footwear, Annual % change, 2012-16
Figure 9: Italy: Consumer prices of clothing and footwear, annual % change, January 2016-August 2017
Spending on clothing
Figure 10: Italy: Consumer spending on clothing and footwear (incl VAT), 2012-17
MARKET SEGMENTATION
Figure 11: Italy: Clothing market, estimated segmentation, 2012-16
CHANNELS OF DISTRIBUTION
Figure 12: Italy: Estimated distribution of spending on clothing and footwear, 2016
SECTOR SIZE AND FORECAST
Department stores weak
Slow but steady structural change
Figure 13: Italy: Specialist clothing retailers, sales (excl. VAT), 2013-17
Figure 14: Italy: Specialist clothing retailers, forecast sales (excl. VAT), 2018-22
LEADING PLAYERS WHAT YOU NEED TO KNOW
An evolving sector
Young fashion retailers growing fastest, and older brands struggling
Foreign brands prominent
Fragmented market
Online growing fast Amazon investing
LEADING PLAYERS
Sector is evolving and changing
Young fashion retailers growing fastest, and now Primark is here.
Many older, established brands are struggling
OVS leads the market
Gruppo Teddy a local fast fashion group
Foreign brands
Figure 15: Italy: Leading clothing specialists, sales (excl VAT), 2012-16
Figure 16: Italy: Leading clothing specialists, outlets, 2012-16
Figure 17: Italy: Leading clothing specialists, sales per outlet, 2012-16
MARKET SHARES
Figure 18: Italy: Leading clothing specialists: sales as % all spending on clothing and footwear, 2012-16
ONLINE
The online sector as a whole
Shopping for clothing online
Figure 19: Italy: Proportion of people saying they have bought clothing or sports goods online in the last year, 2011-16
Online market size
Leading online players
Specialists
Figure 20: Italy Where people shopped for clothing online/by catalogue in the past 12 months by retailer, September 2017
Figure 21: Italy: Leading retailers estimated online sales of clothing, 2016
THE CONSUMER WHAT YOU NEED TO KNOW
Specialists still dominant
Enthusiastic shoppers
Shopper profiles
Increasingly shoppers use online and in-store interchangeably
Quality more important than fashion
Green attitudes
WHERE THEY SHOP
Figure 22: Italy: Where people shopped for clothes in the last 12 months by type of retailer, in-store vs online, September 2017
Figure 23: Italy: Where people shopped for clothes in the last 12 months by retailer, in-store vs online, September 2017
Figure 24: Italy: Proportion of shoppers at department stores, instore vs online, 2014, 2016, 2017
Figure 25: Italy: Proportion of online shoppers, 2014, 2016, 2017
Profile of shoppers
Figure 26: Italy: Profile of clothing shoppers by type of retailer, whether in-store or online, September 2017
Figure 27: Italy: Profile of clothing shoppers, by retailer, whether in-store or online, September 2017
Number of retailers used
Figure 28: Italy: Repertoire of where people shopped for clothes, whether in-store or online, September 2017
Figure 29: Italy: Profile of customers by number of outlets used, September 2017
ATTITUDES TO SHOPPING FOR CLOTHES
Figure 30: Italy: Attitudes to shopping for clothes, September 2017
Figure 31: Italy: Profile of those who agree with attitude statements, September 2017
Attitudes by retailer
Figure 32: Italy: Attitudes to shopping for clothes, by retailer used, September 2017
Figure 33: Italy: Attitudes to shopping for clothes, by retailer used (continued), September 2017
APPENDIX DATA SOURCES, ABBREVIATIONS AND SUPPORTING INFORMATION
Abbreviations
Data sources
H&M HENNES & MAURITZ
What we think
Looking beyond fast fashion
A more seamless shopping experience
New designer collection aims to appeal to fashion conscious male shoppers
New loyalty scheme with exclusive offers and brand experiences
Focusing on offering sustainable finishing processes and eco-friendly materials
Company background
Company performance
Figure 34: H&M Hennes & Mauritz: Group financial performance, 2011/12-2015/16
Figure 35: H&M Hennes & Mauritz: Outlet data, 2011/12-2015/16
Retail offering
GRUPO INDITEX
What we think
Inditex retains strong position but must continue to innovate
Brand extensions
Figure 36: Stradivarius menswear collection, 2017
Figure 37: Pull&Bear beauty range, 2017
Digital innovations
Company background
Company performance
Figure 38: Grupo Inditex: Group financial performance, 2012/13-2016/17
Figure 39: Grupo Inditex: % share of sales, by retail brand, 2015/16-2016/17
Figure 40: Grupo Inditex: Sales and operating profit, by major retail brand, 2012/13-2016/17
Figure 41: Grupo Inditex: Outlet data, by region, at January 2017
Figure 42: Grupo Inditex: Store numbers, by retail brand, at January 2016 and January 2017
Figure 43: Grupo Inditex: Outlet data, 2012/13-2016/17
Retail offering
OVS
What we think
Conversion of Charles Vgele stores yielding positive results
Online sales triple in 2016
Proximity marketing to drive store footfall
New multichannel shopping service
Faster and simpler payment solution
New material procurement policy to reduce environmental impact
Company background
Company performance
Figure 44: OVS group: Group financial performance, 2012-16
Figure 45: OVS group: Outlet data, 2012-16
Retail offering
YNAP GROUP
What we think
The future: more investment in technology
Company background
Company performance
Figure 46: YNAP group: Group financial performance, 2014-16
Retail offering
ZALANDO
What we think
Mobile is at the heart of the business
Prioritising delivery to drive customer loyalty
Geo-localised delivery being trialled
Moving from following to leading
Integrated commerce links up online and offline channels
Fulfilment service reaches out to brands
Company background
Company performance
Figure 47: Zalando: Group financial performance, 2012-16
Figure 48: Zalando: Key metrics, 2015-H1 2017
Retail offering

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