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1、 Western Europe - Homewares 0203 - 2420 - 2012 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 1 MarketLine Industry Profile Homewares in Western Europe April 2013 Reference Code: 0203-2420 Publication Date: April 2013 WWW.MARKETLINE.COM MARKETLINE. THIS PROFILE IS
2、A LICENSED PRODUCT AND IS NO T TO BE PHOTOCO PIED Western Europe - Homewares 0203 - 2420 - 2012 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 2 EXECUTIVE SUMMARY Market value The Western European homewares market shrank by 0.4% in 2012 to reach a value of $95.8 bi
3、llion. Market value forecast In 2017, the Western European homewares market is forecast to have a value of $105 billion, an increase of 9.6% since 2012. Category segmentation Home hardware is the largest segment of the homewares market in Western Europe, accounting for 49.9% of the markets total val
4、ue. Geography segmentation Germany accounts for 21.1% of the Western European homewares market value. Market rivalry Players within the market are diversified retailers, such as department stores or supermarkets, which are not critically reliant upon homeware sales, easing rivalry. Western Europe -
5、Homewares 0203 - 2420 - 2012 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 3 TABLE OF CONTENTS Executive Summary2 Market value 2 Market value forecast.2 Category segmentation2 Geography segmentation 2 Market rivalry .2 Market Overview .7 Market definition7 Market
6、analysis .7 Market Data8 Market value 8 Market Segmentation .9 Category segmentation9 Geography segmentation 10 Market distribution 11 Market Outlook 12 Market value forecast.12 Five Forces Analysis 13 Summary 13 Buyer power.14 Supplier power 15 New entrants .16 Threat of substitutes.17 Degree of ri
7、valry18 Leading Companies19 Carrefour S.A. .19 Ikea Group .23 Marks and Spencer Group plc 24 Metro AG 27 Appendix.31 Western Europe - Homewares 0203 - 2420 - 2012 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 4 Methodology 31 Industry associations32 Related Market
8、Line research32 Western Europe - Homewares 0203 - 2420 - 2012 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 5 LIST OF TABLES Table 1: Western Europe homewares market value: $ billion, 200812(e).8 Table 2: Western Europe homewares market category segmentation: $ bi
9、llion, 2012(e) 9 Table 3: Western Europe homewares market geography segmentation: $ billion, 2012(e).10 Table 4: Western Europe homewares market distribution: % share, by value, 2012(e) .11 Table 5: Western Europe homewares market value forecast: $ billion, 201217 12 Table 6: Carrefour S.A.: key fac
10、ts 19 Table 7: Carrefour S.A.: key financials ($) 20 Table 8: Carrefour S.A.: key financials () 20 Table 9: Carrefour S.A.: key financial ratios .21 Table 10: Ikea Group: key facts23 Table 11: Marks and Spencer Group plc: key facts 24 Table 12: Marks and Spencer Group plc: key financials ($) 25 Tabl
11、e 13: Marks and Spencer Group plc: key financials () 25 Table 14: Marks and Spencer Group plc: key financial ratios .25 Table 15: Metro AG: key facts 27 Table 16: Metro AG: key financials ($) 28 Table 17: Metro AG: key financials () 28 Table 18: Metro AG: key financial ratios .29 Western Europe - Ho
12、mewares 0203 - 2420 - 2012 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 6 LIST OF FIGURES Figure 1: Western Europe homewares market value: $ billion, 200812(e) .8 Figure 2: Western Europe homewares market category segmentation: % share, by value, 2012(e).9 Figure
13、 3: Western Europe homewares market geography segmentation: % share, by value, 2012(e) .10 Figure 4: Western Europe homewares market distribution: % share, by value, 2012(e) 11 Figure 5: Western Europe homewares market value forecast: $ billion, 201217.12 Figure 6: Forces driving competition in the
14、homewares market in Western Europe, 2012 13 Figure 7: Drivers of buyer power in the homewares market in Western Europe, 2012.14 Figure 8: Drivers of supplier power in the homewares market in Western Europe, 2012.15 Figure 9: Factors influencing the likelihood of new entrants in the homewares market
15、in Western Europe, 2012 16 Figure 10: Factors influencing the threat of substitutes in the homewares market in Western Europe, 2012 17 Figure 11: Drivers of degree of rivalry in the homewares market in Western Europe, 2012 18 Figure 12: Carrefour S.A.: revenues thus increasing choice and enhancing b
16、uyer power. Whilst many of the same product lines are stocked by different retailers, there are instances where a certain product is stocked selectively. This limits buyers choice of retailer and thus reduces buyer power. Price sensitivity is relatively high and most product lines are commonly avail
17、able from a spectrum of different retailers. In addition, most buyers have the discretion to shop around. Some homewares may also be considered luxuries rather than necessities. With the exception of some luxury homeware retail companies, brand strength is relatively unimportant and enhances buyer p
18、ower. Price is a more significant factor than brand loyalty; supermarkets or department stores own brands or shopping at retailers with a reputation for low-cost, such as IKEA is prevalent. Overall, buyer power is moderate. Western Europe - Homewares 0203 - 2420 - 2012 MARKETLINE THIS PROFILE IS A L
19、ICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 15 Supplier power Figure 8: Drivers of supplier power in the homewares market in Western Europe, 2012 SOURCE: MARKETLINE M A R K E T L I N E Manufacturers of homeware typically have small- to medium-sized operations and often specialize in one area
20、, such as pottery, glassware, metallurgy or soft-furnishings. Due to the expertise required, backward integration of homeware retailers into manufacturing is not common. Many manufacturers rely on retailers to market and sell their products and this constrains their power as suppliers. Brand tends t
21、o be relatively unimportant to end-consumers, who are generally more concerned with the quality and design of the product, as well as value for money. The lack of brand strength restricts the ability of manufacturers to dominate the market. However, the ability of suppliers to diversify their produc
22、t through design and quality is a concession. The general absence of long term contracts, due to the wide availability of products and easy access to products similar to branded ones, means switching costs are relatively low. Overall, supplier power is moderate. Western Europe - Homewares 0203 - 242
23、0 - 2012 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 16 New entrants Figure 9: Factors influencing the likelihood of new entrants in the homewares market in Western Europe, 2012 SOURCE: MARKETLINE M A R K E T L I N E Low brand loyalty means that it is relatively
24、 easy for new players to enter this market. This is especially true of established retailers, where sales are driven by their general branding and existing customer base. Such large retailers also benefit from economies of scale that allow them to negotiate better deals with suppliers and be more pr
25、ice competitive. Retailers may exist on a small scale with either one or several outlets, for which fixed costs are fairly low. New entrants further benefit from low-switching costs for buyers and relatively low product differentiation. Overall, the threat of new entrants is strong. Western Europe -
26、 Homewares 0203 - 2420 - 2012 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 17 Threat of substitutes Figure 10: Factors influencing the threat of substitutes in the homewares market in Western Europe, 2012 SOURCE: MARKETLINE M A R K E T L I N E There are few subst
27、itutes to homeware retailing. Some homeware items such as textiles, soft-furnishings and window dressings can be home-made; however this constitutes a weak threat of substitution. This is also mitigated by instances where retailers also provide fabrics and materials for buyers to create their own cu
28、shions or curtains. Second-hand products, which are more likely stocked by different retailers or sold by consumers themselves, pose another threat. Networks such as The Freecycle Network, with over 7 million members worldwide, are also valid substitutes when purchasing items such as crockery, glass
29、ware, table lamps or window dressings. They allow members to off-load old items for free, rather than throw them into landfills, as well as advertise for wanted goods. The lower or negligible cost of these alternatives, coupled with low switching costs for buyers, puts the overall threat of substitu
30、tes as moderate. Western Europe - Homewares 0203 - 2420 - 2012 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 18 Degree of rivalry Figure 11: Drivers of degree of rivalry in the homewares market in Western Europe, 2012 SOURCE: MARKETLINE M A R K E T L I N E There a
31、re a large number of retailers ranging from small independent retailers to large chain-stores. Many players within the market are diversified retailers, such as department stores or supermarkets, which are not critically reliant upon homeware sales, thus easing rivalry. Furthermore, there is some pr
32、oduct diversity. Such variety further lessens rivalry as players are less likely to be in direct competition. Exit barriers are relatively low as retail space can often be offered to other businesses and inventory could be sold to other market players. Storage costs are lowered as there is a slower
33、impact of fashion-trends, with a quick turnover of stock less necessary than other consumer products, such as clothing or handbags. Overall, the degree of rivalry is assessed as moderate in this market. Western Europe - Homewares 0203 - 2420 - 2012 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND I
34、S NOT TO BE PHOTOCOPIED Page | 19 LEADING COMPANIES Carrefour S.A. Table 6: Carrefour S.A.: key facts Head office: 33 avenue Emile Zola, TSA 55 555, 92649 Boulogne-Billancourt Cedex, FRA Telephone: 33 1 41 04 26 00 Fax: 33 1 41 04 26 01 Website: Financial year-end: December Ticker: CA Stock exchang
35、e: Paris SOURCE: COMPANY WEBSITE M A R K E T L I N E Carrefour is one of the leading grocery and consumer goods distribution groups in the world. At the end of FY2011, it operated 9,771 stores in 33 countries across Europe, Asia and Latin America. The group organizes its business segments based on g
36、eographic presence: France, Europe (excluding France), Latin America and Asia. However, Carrefours business operations can be segmented on the basis of its store formats: hypermarkets, supermarkets, and other formats (cash however in 2012 the company reported revenues of 27bn (approximately $37bn),
37、up 9.5% compared to the previous year. Western Europe - Homewares 0203 - 2420 - 2012 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 24 Marks and Spencer Group plc Table 11: Marks and Spencer Group plc: key facts Head office: Waterside House, 35 North Wharf Road, Lo
38、ndon, W2 1NW, GBR Telephone: 44 20 7935 4422 Website: Financial year-end: April Ticker: MKS Stock exchange: London SOURCE: COMPANY WEBSITE M A R K E T L I N E M special celebration products; authentic ready meal ranges; and exceptional everyday food such as “Oakham“ chicken. It operates a chain of
39、163 Simply Food owned stores and 202 Simply Food franchise stores in high streets, motorway service stations, railway stations and airports in the UK. The general merchandise division of the company is categorized into two segments: clothing and home. The clothing segment offers womens wear, mens we
40、ar, lingerie, childrens wear, and accessories and footwear. Some of the prominent brands offered by this segment include Autograph, Limited Collection, Collezione, Blue Harbour, Girls Boutique, Per Una, Ceriso, Adored, and Truly you. The home segment offers homeware and home accessories, kitchen and
41、 tableware, lighting, and furniture products. In addition to selling products through regular stores, the segment also offers catalogue services. M&S offers its products and services online as well as through flagship stores, high street stores, retail park stores, M&S outlets, Simply Food stores, a
42、nd Simply Food franchised stores. Key Metrics The company recorded revenues of $15,933 million in the fiscal year ending April 2012, an increase of 2.0% compared to fiscal 2011. Its net income was $785 million in fiscal 2012, compared to a net income of $960 million in the preceding year. Western Eu
43、rope - Homewares 0203 - 2420 - 2012 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 25 Table 12: Marks and Spencer Group plc: key financials ($) $ million 2008 2009 2010 2011 2012 Revenues 14,469.9 14,534.2 15,295.3 15,622.0 15,933.1 Net income (loss) 1,316.8 (115.8
44、) 463.0 960.1 785.2 Total assets 11,485.2 11,640.9 11,472.7 11,778.8 11,665.3 Total liabilities 8,335.2 8,271.9 7,966.8 7,484.7 7,208.5 SOURCE: COMPANY FILINGS M A R K E T L I N E Table 13: Marks and Spencer Group plc: key financials () million 2008 2009 2010 2011 2012 Revenues 9,022.0 9,062.1 9,536
45、.6 9,740.3 9,934.3 Net income (loss) 821.0 (72.2) 288.7 598.6 489.6 Total assets 7,161.0 7,258.1 7,153.2 7,344.1 7,273.3 Total liabilities 5,197.0 5,157.5 4,967.3 4,666.7 4,494.5 SOURCE: COMPANY FILINGS M A R K E T L I N E Table 14: Marks and Spencer Group plc: key financial ratios Ratio 2008 2009 2
46、010 2011 2012 Profit margin 9.1% (0.8%) 3.0% 6.1% 4.9% Revenue growth 5.1% 0.4% 5.2% 2.1% 2.0% Asset growth 33.1% 1.4% (1.4%) 2.7% (1.0%) Liabilities growth 39.2% (0.8%) (3.7%) (6.1%) (3.7%) Debt/asset ratio 72.6% 71.1% 69.4% 63.5% 61.8% Return on assets 13.1% (1.0%) 4.0% 8.3% 6.7% SOURCE: COMPANY F
47、ILINGS M A R K E T L I N E Western Europe - Homewares 0203 - 2420 - 2012 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 26 Figure 14: Marks and Spencer Group plc: revenues & profitability SOURCE: COMPANY FILINGS M A R K E T L I N E Figure 15: Marks and Spencer Grou
48、p plc: assets & liabilities SOURCE: COMPANY FILINGS M A R K E T L I N E Western Europe - Homewares 0203 - 2420 - 2012 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 27 Metro AG Table 15: Metro AG: key facts Head office: Schluterstrasse 1, Dusseldorf 40235, DEU Tele
49、phone: 49 211 6886 0 Website: www.metrogroup.de Financial year-end: December Ticker: MEO Stock exchange: Frankfurt SOURCE: COMPANY WEBSITE M A R K E T L I N E Metro AG conducts its retail and wholesale sales business primarily through Metro. It also manages group wide finance, controlling and compliance related functions. Metro operates 2,187 outlets in 33 countries across Europe, Africa and Asia. The company operates through five business segments: Metro Cash & Carry, Media-Saturn, Real, Galeria Kaufhof