CHRISTMAS SHOPPING IN EUROPE - STATISTA DOSSIERPLUS ON CHRISTMAS SHOPPING IN EUROPE - AWS

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CHRISTMAS SHOPPING IN EUROPE - STATISTA DOSSIERPLUS ON CHRISTMAS SHOPPING IN EUROPE - AWS
CHRISTMAS SHOPPING IN
              EUROPE
STATISTA DOSSIERPLUS ON CHRISTMAS SHOPPING IN
                                     EUROPE
CHRISTMAS SHOPPING IN EUROPE - STATISTA DOSSIERPLUS ON CHRISTMAS SHOPPING IN EUROPE - AWS
Statista wishes a Merry Christmas

                                          It’s that time of the year again – Christmas!

    And consumers in Europe have already decided what they are buying, where they are buying from, and how much they are
                                          allocating for their Christmas shopping.

 Me and my Team would like to look back on our cooperation in 2019 and thank you very much for the trust you have placed in us.
        That is why we would like to treat you with a little gift, our DossierPlus Special "Christmas Shopping in Europe".

   This Statista DossierPlus provides facts and trends about the Christmas shopping patterns and expectations of consumers in
Europe. Wrapped in key macroeconomic indicators and retail trade figures, it offers in-depth coverage of the most essential insights
                                                          of the season.
CHRISTMAS SHOPPING IN EUROPE - STATISTA DOSSIERPLUS ON CHRISTMAS SHOPPING IN EUROPE - AWS
Table of contents

01   European Christmas overview           03   A tale of two channels

      ◾ Christmas retail trade in Europe          ◾ Online retail in Europe
      ◾ Champions of Christmas retail             ◾ Online Christmas spending

02   The European (Christmas) consumer     04   Christmas comes early: the Black
                                                Friday effect in Europe
      ◾ The European consumer in the              ◾ Black Friday and Cyber Week
        European economy                              in Europe
      ◾ Christmas spending                        ◾ Black Friday retail sales

2                                                                                  Statista
CHRISTMAS SHOPPING IN EUROPE - STATISTA DOSSIERPLUS ON CHRISTMAS SHOPPING IN EUROPE - AWS
Festive Facts
         United
        Kingdom                                                        Sweden

         6.8                                                            10
          billion                                                   million litres
                                                                of Beer & Christmas beer
        Christmas ad                                              sold in Systembolaget
     spend value in 2019                                         stores during Christmas
                                                                      week in 2018
              The
          Netherlands
                                                                      Denmark
             311                                                        2.9
             million €
        online revenues during
                                                                      thousand
         Sinterklaas in 2018                                       Christmas tree farms
                                                                        as of 2019

                 Spain

          2.8 billion                                         Italy                        China

       revenues generated from
      Christmas Lotto “El Gordo -   Germany
                                                             29                            117
                                    145
            The Fatty One”                             thousand tons                 thousand tons
                                                       of Panettone produced       of Christmas decorations
                                                                                      supplied into the EU
                                    million
                                    chocolate Santas
                                    produced
                                    in 2018

             4
CHRISTMAS SHOPPING IN EUROPE - STATISTA DOSSIERPLUS ON CHRISTMAS SHOPPING IN EUROPE - AWS
01   European Christmas overview
     ▪ Christmas retail trade in Europe
     ▪ Champions of Christmas retail
CHRISTMAS SHOPPING IN EUROPE - STATISTA DOSSIERPLUS ON CHRISTMAS SHOPPING IN EUROPE - AWS
It’s the most wonderful time of the year

And certainly the busiest, at least for shoppers and retailers. The   Yet Christmas will always be Christmas, meaning shopping lists
so-called Golden Quarter is already in full throttle, Christmas is    will always need to be sorted, consumers will always be out in
just around the corner, and shopping deadlines are looming            full force on the hunt for the season’s best deals for family and
closer. From food to consumer goods, electronics to                   friends, and businesses will roll out their festive strategies to get
entertainment, retailers in many categories brace themselves for      the best of the spending rush. To put the festive spirit in a
the surge of shoppers flocking to high streets and online             consumer perspective, this Statista DossierPlus lays out the
marketplaces. Consumers themselves get savvy with their               Christmas landscape in Europe, tracing developments in retail
budgets, wishing for a fine balance between generous giving           during the last quarter of the year and offering a snapshot of
and smart spending.                                                   consumer spending habits and trends.

This Christmas, the expected increase in retail spending in
major European countries pales in comparison to the glory of
Christmases gone by. Forecasts by the Centre for Retail
Research (CRR) indicated that in 2019, Christmas retail
spending will perform a minuscule 1.2 percent growth, dropping
from the previous two years’ record of a 1.8 percent increase. In
view of the declining momentum in global economic growth that
afflicted major economies throughout 2019, the projections of
moderate progress in holiday spending this year do not come as
a surprise.

5                                                                                                                                      Statista
CHRISTMAS SHOPPING IN EUROPE - STATISTA DOSSIERPLUS ON CHRISTMAS SHOPPING IN EUROPE - AWS
Christmas retail most extravagant in the UK and Germany
Europe's biggest five economies have the highest Christmas spending numbers
                                     Christmas spending in retail in Europe in 2018, by country (in billion GBP)             Christmas brings the biggest joy into the
                                                                                                                             retail sector. The last two months of the
                        90
                                                                                                                             year definitely mark a heightened period of
                                  79.72                                                                                      spending activity in Europe's Christmas
                        80
                                                                                                                             retail landscape. Yet it is fair to say that not
                                                   68.57                                                                     every country takes Christmas season
                        70
                                                                     60.15
                                                                                                                             shopping as seriously as the United
                                                                                                                             Kingdom. The country's Christmas retail
 Sales in billion GBP

                        60
                                                                                                                             spending in 2018 exceeded those of Italy,
                        50                                                                                                   Spain and the Netherlands combined.
                                                                                                                             Germany's retail sector provides another
                        40                                                   37.88
                                                                                                                             set of high numbers during this period. With
                                                                                                                             a retail spending just shy of 70 billion
                        30
                                                                                         24.05                               British pounds, or a solid 80 billion euros,
                                                                                                                             Germany has the second biggest
                        20
                                                                                                      11.78                  Christmas retail business in Europe.
                                                                                                                    9.04
                        10

                        0
                                 United          Germany            France   Italy       Spain     Netherlands     Belgium
                                Kingdom
                         Note: EU; 2018
                         Source(s): VoucherCodes.co.uk; CRR; ID 1063481

6                                                                                                                                                                       Statista
Christmas spending development in Europe since 2017
Christmas spend stalls in the UK, Spain expected to make the biggest leap this Christmas
          Expected growth in Christmas spending in retail in selected European countries from 2017 to 2019   The picture is less cheerful when it comes
                                                                                                             to what Christmas will bring in retail this
                                                                                                             year. In the coming holiday season, the two
                                                                                  2017   2018   2019         kings of Christmas retail spending, the
                                 3.5%                                                                        United Kingdom and Germany, are not
                                                                                                             expected to perform any Christmas
 Percentage growth in spending

                                 3.0%                                                                        miracles, with the former stalling at a
                                 2.5%
                                                                                                             minuscule 0.8 percent growth. Instead, a
                                                                                                             boost of about two percent is forecasted for
                                 2.0%                                                                        both Spain and the Netherlands.
                                 1.5%

                                 1.0%

                                 0.5%

                                 0.0%

                                 Note: EU; 2017 to 2018
                                 Source(s): VoucherCodes.co.uk; CRR; ID 1063395

7                                                                                                                                                   Statista
Spotlight: United Kingdom
Christmas is serious business in the UK

Christmas evokes the most pleasant of sensations in us: the
smell of ginger and spice wafting through Christmas markets,
domestic pleasures of cozy evenings spent with loved ones, a
bustling time of eating, drinking and generally being merry. Yet
more than anything, Christmas is a commercial business,
propped up by a number of industries and services, all of which
help the commercial wheel turn until the next year.

Retailers in the UK are all too aware of this, as Christmas
becomes an arena for major retail brands to mark their name on
the season with their Christmas TV adverts. Every year, the
UK's biggest retail companies such as John Lewis, Sainsbury's,
Tesco and Marks & Spencer battle for winning the Christmas ad
race to make the most of the Christmas retail boost, attract a
wider range of consumers and generate more sales. Earlier in
November this year, The Guardian reported that the UK
Christmas ad industry reached a staggering value of of 6.8
billion British pounds as of the third quarter of 2019, including TV
and online ads.

8
9
                                                                                           Retail sales value in million GBP
                                                                                 Dec 14
                                                                                 Jan 15
                                                                                 Feb 15
                                                                                 Mar 15
                                                                                 Apr 15
                                                                                 May 15
                                                                                 Jun 15
                                                                                  Jul 15
                                                                                 Aug 15
                                                                                 Sep 15
                                                                                 Oct 15
                                                                                 Nov 15
                                                                                 Dec 15
                                                                                 Jan 16
                                                                                 Feb 16

           Source(s): Office for National Statistics (UK); ID 287878
                                                                                 Mar 16
                                                                                 Apr 16
                                                                                 May 16
                                                                                 Jun 16

           Note: United Kingdom (Great Britain); December 2014 to October 2019
                                                                                  Jul 16
                                                                                 Aug 16
                                                                                 Sep 16
                                                                                 Oct 16
                                                                                 Nov 16
                                                                                                                                                                                                      UK retail peaks in December

                                                                                 Dec 16
                                                                                 Jan 17
                                                                                 Feb 17
                                                                                 Mar 17
                                                                                 Apr 17
                                                                                 May 17
                                                                                 Jun 17
                                                                                  Jul 17
                                                                                 Aug 17
                                                                                                                               Not surprisingly, November and December see the most retail activity

                                                                                 Sep 17
                                                                                 Oct 17
                                                                                 Nov 17
                                                                                 Dec 17
                                                                                 Jan 18
                                                                                 Feb 18
                                                                                 Mar 18
                                                                                 Apr 18
                                                                                 May 18
                                                                                 Jun 18
                                                                                  Jul 18
                                                                                 Aug 18
                                                                                 Sep 18
                                                                                 Oct 18
                                                                                 Nov 18
                                                                                 Dec 18
                                                                                 Jan 19
                                                                                 Feb 19
                                                                                 Mar 19
                                                                                 Apr 19
                                                                                 May 19
                                                                                 Jun 19
                                                                                 July 19
                                                                                 Aug 19
                                                                                 Sep 19
                                                                                 Oct 19
Statista
UK Christmas retail isn't what it used to be
Sales have yet to reach the level of 2016 growth rates
Year-on-year change in retail sales in the United Kingdom (UK) from January 2016 to November 2019                            In December 2018, the value of monthly
                                                                                                                             retail sales made up 12.3 percent of total
                                                                                                                             retail sales in that year. Though in itself this
                                     3.0%
                                                                                                                             is an impressive enough figure, this
                                                                                                                             proportion was the lowest the UK had had
                                     2.0%
                                                                                                                             over the past three years. In fact, since
 Percentage change in retail sales

                                                                                                                             2016, Christmas retail in the UK has not
                                     1.0%
                                                                                                                             had much reason to be merry. As reported
                                                                                                                             jointly by the British Retail Consortium and
                                     0.0%
                                                                                                                             KPMG, the total value of retail sales
                                     -1.0%
                                                                                                                             flattened out in the 2018 Christmas season
                                                                                                                             and saw no growth compared to the
                                     -2.0%                                                                                   previous year.

                                     -3.0%

                                     -4.0%

                                     -5.0%
                                               Mar Jun Sep Nov Dec Mar Jun Sep Nov Dec Mar Jun Sep Nov Dec Mar Jun Sep Nov
                                               16 16 16 16 16 17 17 17 17 17 18 18 18 18 18 19 19 19 19
                                      Note: United Kingdom; January 2016 to November 2019
                                      Source(s): KPMG; British Retail Consortium; ID 535015

10                                                                                                                                                                      Statista
Not all retail is equal in the eyes of Christmas
Food and grocery retail is the clear winner of Christmas spending
                                       Percentage growth in retail sales of food and non-food items during 4th quarter 2016 and 4th quarter 2018        While a greater emphasis
                                                                                                                                                        is put on exchanging gifts
                                                                                                                                                        or treating oneself to
                                                                                    Q4 2016      Q4 2017     Q4 2018                                    Christmas sales
                                    4.0%                                                                                                                purchases, more than any
                                                                                                      3.6%                                              other retail category, food
                                    3.5%                                                                                                                and grocery sales get the
 Percentage growth (year-on-year)

                                                                                                                                                        biggest boost during the
                                    3.0%                                                                                                                season. In the UK, grocery
                                                                                                                 2.5%                                   retail saw the greatest
                                    2.5%                        2.3%                                                                                    growth of the past three
                                                                               2%                                                                       years in the last quarter of
                                    2.0%
                                                                                                                                                 1.6%
                                                                                                                                                        2018.
                                                  1.5%                                                                  1.5%       1.5%
                                    1.5%                                                  1.4%

                                    1.0%

                                    0.5%

                                    0.0%
                                                             Total retail                     Food and grocery retail          Non-food retail
                                    Note: United Kingdom; Q4 2016 to Q4 2018
                                    Source(s): GlobalData; ID 789888

11                                                                                                                                                                             Statista
Spotlight: Germany
Christmas done right

The annual development in retail sales during the Christmas
trading period establishes Germany as Europe's second-biggest
Christmas retail spender. Despite a somewhat stagnant period
between 2000 and 2015, recent holiday seasons in Germany
started seeing revived sales in retail again. In 2018, Christmas
trade constituted 19 percent of all retail taking place during
November and December.

One clear advantage that Germany has over the United
Kingdom, and many other European countries, is the Christmas
markets that light up many German town centers during the
Advent period. In a 2014 report, the Centre for Retail Research
indicated that Germany was host to over 2.2 thousand
Christmas markets, 20 times more than those in Austria and
Switzerland combined. Additionally, Germany's Bundesverband
Deutscher Schausteller und Marktkaufleute estimated that the
contribution of traditional Christmas markets to Germany's
Christmas retail turnover was as high as three billion euros.

12
Christmas retail revenues to cross the 100 million euro mark
Retail revenue of the Christmas trading period in Germany from 2005 to 2018, with a forecast for 2019

                            120

                                                                                                                                                            102.4
                                                                                                                                              98.3   99.4
                            100                                                                                                        94.7
                                                                                                                                90.6
                                                    83.5                                                   82.9   84.3   85
                                      82.2                                     80.5          81.1   82.7
                                                                 80.3                 78.7
 Revenue in billion euros

                             80

                             60

                             40

                             20

                              0
                                      2005         2006          2007         2008    2009   2010   2011   2012   2013   2014   2015   2016   2017   2018   2019
                             Note: Germany; 2005 to 2018
                             Source(s): Statistisches Bundesamt; HDE; ID 1064307

13                                                                                                                                                            Statista
Nussknacker cracks Christmas sales
Toys continue to be seasonal gifts
              Share of Christmas trade in annual sales in selected retail sectors in Germany from 2014 to 2018           A detailed category
                                                                                                                         breakdown of retail sales
                                                                                                                         during the Christmas
                                                               Sales share
                                                                                                                         trading period shows that a
                                                             2018     2016    2014                                       quarter of all toys in
                                                      0.0%     5.0%          10.0%   15.0%   20.0%     25.0%     30.0%   Germany are sold during
                                                                                                                         the Christmas season. In
                               Total retail
                                                                                                                         fact, for many other
                                     Toys
                                                                                                                         categories such as
Household items not mentioned elsewhere
                                                                                                                         ceramic products and
              Ceramic and glass products
                                                                                                                         glassware as well, the
                                   Books
                                                                                                                         impact of Christmas in
                    Consumer electronics
                                                                                                                         purchases was clearly
                     Watches and jewelry
                                                                                                                         discernable.
          Music instruments and supplies
         Electrical household appliances
                                 Clothing
             Antiques and antique carpets
      Cosmetics and body care products
      Bakery products and confectionery
              Magazines and newspapers
     Note: Germany; 2014 to 2018
     Source(s): Statistisches Bundesamt; ID 1067444

14                                                                                                                                             Statista
02   The European (Christmas) consumer
     ▪ The European consumer in the European
       economy
     ▪ Christmas spending
The European consumer in the European economy
Consumers wary of overspending

From a retail perspective, the Christmas season does not hold
many surprises. Compared to other periods in the calendar year,
consumer spending typically increases in what is referred to as
the Golden Quarter of retail. What remains uncertain is whether
or not consumers will spend more than they did in the previous
year. As has been displayed in the first chapter of this report, the
robustness of growth in Christmas spending is predicted to vary
across countries for 2019. Yet, compared with the actual growth
rates of the two previous years, it seems that it will be a mild
Christmas as the European consumer stays cautious.

Following the slowed-down economic activity due to global trade
turmoils in 2018, the spring edition of the European Economic
Forecast Report published by the European Commission
predicts that 2019 will provide a flat transition into a relatively
stable period beyond. Citing a decline in consumer confidence
throughout 2018 and the resulting impulse to save, the
commission report forecasts a push in private consumption - but
not before 2020.

16
Europe's biggest economies
Gross domestic product (GDP) of the leading 10 European countries in 2018
                                                                     GDP in billion euros
                      0                 500            1000        1500            2000      2500       3000   3500    4000

       Germany                                                                                                 3,386

United Kingdom                                                                               2,390.19

          France                                                                            2,348.99

              Italy                                                            1,753.95

            Spain                                             1,206.88

     Netherlands                                   772.69

     Switzerland                              597.31

          Poland                          496.63

         Sweden                          467.01

         Belgium                         450.58

      Note: Europe; 2018
      Source(s): Eurostat; ID 1078628

17                                                                                                                     Statista
Consumer confidence is particularly low in the United Kingdom
Consumer Confidence Index in a selection of European countries 2017 to 2019

                                                   Belgium                France        Germany             Austria           Switzerland             Netherlands
                                                   Luxembourg             Spain         Italy               United Kingdom    Denmark                 Sweden
                             104.0

                             103.0
 Consumer Confidence Index

                             102.0

                             101.0

                             100.0

                              99.0

                              98.0
                                           Jun '17            Sep '17      Dec '17   Mar '18      Jun '18       Sep '18      Dec '18        Mar '19         Jun '19   Sep '19
                              Note: Europe; June 2017 to September 2019
                              Source(s): OECD; ID 686252

18                                                                                                                                                                          Statista
2019 stable, 2020 to bring a brighter outlook
Growth in GDP and private consumption in the EU
                Average growth rate of private consumption in the European Union (EU) from 2013 to 2017, with a forecast to 2020          2019
                                                                                                                                          forecasts
                                                                                                                                          were not
               3.0%                                                   2.4%
                                                       2.1%                               2%                                              overwhelming
                                                                                                            1.6%   1.6%            1.7%
 Real annual
 percentage

               2.0%                            1.2%                                                                                       in terms of
   change

               1.0%
                                                                                                                                          GDP growth
                           -0.1%                                                                                                          and private
               0.0%                                                                                                                       consumption
               -1.0%                                                                                                                      in the EU. On
                            2013               2014    2015           2016               2017               2018   2019            2020   both fronts,
                                                                                                                                          the outlook for
       Average growth rate of gross domestic product (GDP) in the European Union (EU) from 2013 to 2017, with a forecast to 2020          2020 was
                                                                                                                                          more
                                                                                                                                          optimistic.
               3.0%                                                                     2.5%
                                                       2.3%
                                                                      2%                                     2%
 Real annual
 percentage

                                              1.8%
               2.0%                                                                                                                1.6%
   change

                                                                                                                   1.4%

               1.0%
                          0.3%
               0.0%
                           2013               2014     2015          2016               2017                2018   2019            2020
      (1) Note: EU; 2013 to 2017                                      (2) Note: EU; 2013 to 2017
      Source(s): European Commission; ID 1067611                      Source(s): European Commission; ID 1070317

19                                                                                                                                                  Statista
Household Christmas budget
Who is spending how much on what?

During the 2018 Christmas season, the personal finance plans
of European consumers were somewhat reflective of the larger
European consumption and retail sales trends. Compared to
2018, Christmas shoppers in Europe are not planning to go
overboard in 2019. According to the 2019 edition of Deloitte's
Annual Christmas Survey, the average Christmas budget of
European consumers is estimated to go from the previous year's
446 euros to 461 euros in 2019. Consumers in the United
Kingdom, Spain, Italy and Germany were the biggest spenders
of the previous year, allocating much higher Christmas budgets
than the European average. The picture remains similar this
Christmas as well.

On average, the European consumer expected to spend more
money on buying presents than food items this Christmas. Other
surveys conducted with consumers from Northern Europe also
confirmed that, true homebodies that they are, European
consumers planned to allocate only a meagre share for travel or
going out.

20
More on giving than feasting
Christmas budget composition in Europe from 2018 to 2019, by category

                                                                                                        Gifts        Food and Drink   Socializing    Travel
                                   250

                                   200                                                                                                         193
 Average consumer spend in euros

                                                       189

                                   150
                                                                              127                                                                             131

                                   100                                                                                                                                          86
                                                                                                                           81

                                                                                                      49                                                                   51
                                    50

                                     0
                                                                                         2018                                                                       2019
                                    Note: Europe; September 16, 2019 to October 11, 2019; 18-65 years; 7,190 Respondents
                                    Source(s): Deloitte; ID 1064151

21                                                                                                                                                                                   Statista
Europe's Christmas budget
Average budget for Christmas celebrations in Europe 2019, by country

Budget estimations of                                        Average estimated spend on Christmas celebrations in selected countries in Europe in 2019 (in euros)
consumers in four of the
biggest economies in
                                                                                                  Average expenditure in euros
Europe - Germany, the
UK, Spain and Italy -                                                      0                100   200          300            400         500             600         700
deemed these countries
                                                                    UK                                                                                          639
the most generous this
Christmas season. In                                            Spain                                                                                554
comparison, Dutch
consumers expected to                                              Italy                                                                            549
spend below the European
                                                            Germany                                                                           488
average of 460 euros for
their holiday expenses.                        European average                                                                         460

                                                             Portugal                                                            387

                                                               Russia                                                      367

                                                               Poland                                                    352

                                                        Netherlands                                                     341

     Note: Europe; September 16, 2019 to October 11, 2019; 18-65 years; 7,190 Respondents
     Source(s): Deloitte; ID 475509

22                                                                                                                                                                    Statista
Europe's biggest Christmas spender
British consumers push the boat out for festive spending
             Consumer spending during the Christmas period in the United Kingdom (UK) in 2018 and 2019, by category (in GBP)                                         In 2018, Christmas
                                                                                                                                                                     spending per person in the
                                                                                                                                                                     UK was estimated to be
                                                                           Gifts        Food and Drink             Socializing           Travel                      567 British pounds (or 639
                              350                                                                                                                                    euros), the largest
                                                                                                                                                                     Christmas budget in
                                              294                                                                           299                                      Western Europe, upping
                              300
                                                                                                                                                                     the previous year by 1.3
 Average expenditure in GBP

                              250
                                                                                                                                                                     percent.

                              200

                                                                146                                                                          143
                              150

                              100
                                                                                   68                                                                      63   62
                                                                                                    51
                               50

                                0
                                                                        2018                                                                       2019*
                               Note: United Kingdom; September 16, 2019 to October 11, 2019; 18 - 65 years; 803 Respondents; UK adults
                               Source(s): Deloitte; ID 786555

23                                                                                                                                                                                         Statista
Italy and Spain
The Mediterranean Christmas budget
                                                         Estimated Christmas shopping expenditure in Italy in 2019, by category (in euros)                                                     After the UK,
                                                                                                                                                                                               Spain and
                        250                        221                                                                                                                                         Italy are
 Expenditure in euros

                        200                                                                                                                                                                    estimated to
                                                                                               140                                                                                             have the two
                        150                                                                                                           116
                                                                                                                                                                                               next biggest
                        100                                                                                                                                                        72
                                                                                                                                                                                               Christmas
                         50                                                                                                                                                                    budgets this
                          0                                                                                                                                                                    year.
                                                  Gifts                                       Food                               Socializing                                  Traveling

                                                         Estimated Christmas holiday expenditure in Spain in 2019, by category (in euros)

                        250                        238
 Expenditure in euros

                        200                                                                    173
                        150
                        100                                                                                                            79
                                                                                                                                                                                   64
                         50
                          0
                                                  Gifts                                       Food                               Socializing                                     Travel
                         (1) Note: Italy; September 16 to October 11, 2019; 14-65 years; 976 Respondents   (2) Note: Spain; September 16 to October 11, 2019; 18-65 years; 1,107 Respondents
                         Source(s): Deloitte; ID 646476                                                    Source(s): Deloitte; ID 1067500

24                                                                                                                                                                                                       Statista
Germany and the Netherlands
Average Christmas budget estimations
                                                           Estimated Christmas spending in Germany in 2019, by category (in euros)                                             Germany's
                                                                                                                                                                               Christmas
                        250                      217                                                                                                                           trading period
 Expenditure in euros

                        200                                                                                                                                                    displays high
                        150                                                                                                                                                    flying
                                                                                  116                                    103                                                   numbers, but
                        100
                                                                                                                                                                      51       personal
                         50                                                                                                                                                    budget
                          0                                                                                                                                                    estimations of
                                                Gifts                            Food                                  Travel                                    Going out     consumers
                                                                                                                                                                               placed
                                                 Estimated holiday season expenditure in the Netherlands in 2019, by category (in euros)                                       Germany
                        140                                                                                                                                                    behind Italy,
                                                 122
 Expenditure in euros

                        120                                                      109                                                                                           Spain and the
                        100                                                                                                                                                    UK.
                                                                                                                         78
                         80
                         60
                         40                                                                                                                                           32
                         20
                          0
                                                Gifts                            Food                                  Travel                                   Socializing
                         (1) Note: Germany; October 2019; 978 Respondents                    (2) Note: Netherlands; September 16, 2019 to October 11, 2019; 18-65 years; 937
                         Source(s): Deloitte; ID 1069430                                     Respondents
                                                                                             Source(s): Deloitte; ID 784797

25                                                                                                                                                                                       Statista
Nordics Christmas budget: Denmark
Top-5 Christmas expenses in 2018
                                                              Christmas expenses in Denmark in 2018, by type                                         Scandinavian consumers'
                                                                                                                                                     spending habits during the
                     30.0%
                                                                                                                                                     Christmas season varied
                                          26%                                                                                                        from country to country.
                     25.0%                                                                                                                           According the 2018 results
                                                                                                                                                     of the Christmas Barometer
                                                                                                                                                     conducted by the Helsinki-
                     20.0%                                                                                                                           based digital financial
 Share of expenses

                                                                                                                                                     services provider Ferratum
                                                                                                                                                     Group, Danish consumers
                     15.0%                                             14%                       14%                                                 expected one quarter of
                                                                                                                       12%                           their expenses to be on
                                                                                                                                                     shopping activities.
                     10.0%

                                                                                                                                         6%
                     5.0%

                     0.0%
                                      Shopping                   Travel abroad           Sports and recreation   Children's winter   Sports events
                                                                                                                     activities
                     Note: Denmark; December 2018 ; Over 23,000 households from 19 countries
                     Source(s): Ferratum; ID 1072678

26                                                                                                                                                                        Statista
Nordics Christmas budget: Sweden and Norway
Clothes, games, gadgets: top Christmas expenses
                          Christmas expenses in Sweden in 2019, by type                                                              Christmas expenses in Norway in 2019, by type              The 2019
                                                                                                                                                                                                results of the
                     14.0%        13%                                                                                            18.0%    17%
                                                                                                                                                                                                same survey
                                                 12%                                                                             16.0%                                                          revealed
                     12.0%                                      11%                                                                                 14%                                         slightly
                                                                                                                                 14.0%
                     10.0%                                                                                                                                                                      differing

                                                                                                             Share of expenses
 Share of expenses

                                                                                9%             9%                                12.0%                         11%                              results for
                     8.0%                                                                                                        10.0%                                                          Sweden and
                                                                                                                                                                                                Norway.
                     6.0%                                                                                                        8.0%                                         7%
                                                                                                                                                                                           6%
                                                                                                                                 6.0%
                     4.0%
                                                                                                                                 4.0%
                     2.0%
                                                                                                                                 2.0%
                     0.0%                                                                                                        0.0%

                     (1) Note: Sweden; November 2019; Over 31,000 households from 14 countries; Top 5   (2) Note: Norway; November 2019; Over 31,000 households from 14 countries; Top 5
                     Source(s): Ferratum; ID 1072697                                                    Source(s): Ferratum; ID 1072691

27                                                                                                                                                                                                        Statista
03   A tale of two channels
     ▪ Online retail in Europe
     ▪ Online Christmas spending
Christmas is more online than ever
E-commerce in Christmas shopping

Online has secured its place in consumers' purchasing habits,
including those on the hunt for the best Christmas deals. Last
Christmas, European shoppers did not abandon the joys of
strolling through physical stores altogether, and left more money
in physical stores. Yet, the average amount consumers expected
to spend via online channels increased - contrary to their
planned offline Christmas budget, which did not display a
significant rise from 2017.

Within online shopping, mobile is gaining more traction with
consumers, the convenience and ease of use offered by mobile
apps being a significant incentive for this. That being said,
consumers mix and match, and most of Christmas shopping is
done offline, out in the supermarkets, high streets and shopping
centres. Consumer expectations from online shopping get more
diluted and refined during the holiday season as well, as
Christmas shopping is necessarily more personalized and time
sensitive.

29
Christmas budget online and offline
Average budget in Europe from 2018 to 2019, by channel

                                                                                                                          Online   Offline
                                 300
                                                                                                                                                          275
                                                                                                             268

                                 250
 Average consumer spend in GBP

                                 200

                                 150                                                                                                         134
                                                                  128

                                 100

                                  50

                                   0
                                                                                       2018                                                        2019
                                  Note: Europe; September 16, 2019 and October 11, 2019; 18-65 years; 7,190 Respondents
                                  Source(s): Deloitte; ID 1067428

30                                                                                                                                                              Statista
The Big Six of online retail
UK plants the flag in online retail in Europe
                                      Online retail sales value in selected European countries from 2016 to 2019 (in billion GBP)              Christmas is becoming more online,
                                                                                                                                               because retail is too. In Europe, the
                                                                                                                                               proportion of online sales in all retail has
                                                                                     2016         2017   2018     2019                         already gone up from 4.8 percent to
                                    80                                                                                                         roughly 9 percent between 2012 and 2018.
                                                                                                                                               In some mature e-commerce markets like
                                    70                                                                                                         the UK, Germany and France, this share is
                                                                                                                                               forecast to go over the 10 percent mark in
 Value in billion British pounds.

                                    60                                                                                                         2019.

                                    50                                                                                                         2019 forecasts for the sales value of online
                                                                                                                                               retail indicate impressive numbers across
                                    40
                                                                                                                                               Europe. The Centre for Retail Research
                                    30
                                                                                                                                               estimates a value of between roughly 9
                                                                                                                                               billion British pounds in the Netherlands
                                    20                                                                                                         and 76 billion British pounds in the United
                                                                                                                                               Kingdom.
                                    10

                                    0
                                                   UK                 Germany                   France          Spain    Italy   Netherlands
                                     Note: Europe; excluding travel, restaurants, tickets, transport.
                                     Source(s): CRR; VoucherCodes.co.uk; ID 921453

31                                                                                                                                                                                     Statista
Small steps and big steps: European online retail share outlook
Year-on-year increase in online retail sales in selected European countries in 2019

                                     19%

                                                         15.9%
 Increase in online sales

                                                                  10.9%                                       10.8%
                                                                              9.9%

                                                                                         5.4%

                                                                                                 3.9%

                                      UK                Germany   France   Netherlands   Spain   Italy   European average
                            Note: Europe; 2018
                            Source(s): CRR; ID 795571

32                                                                                                                    Statista
Holiday shopping expectations are online in Europe
Italian and Spanish consumers most keen to buy from online marketplaces
Share of consumers planning to buy more from online marketplaces during holiday season in Europe in 2019, by country                   Consumer data from
                                                                                                                                       research conducted by
                                                                                                                                       Salesforce Marketing
                                                                                                                                       suggested that Italy and
                            78%                                                                                                        Spain showed the most
                                                                                                                                       interest in online
                                                                                                                                       marketplaces this holiday
                                                62%                   61%                                                              season.
 Share of respondents

                                                                               56%
                                                                                         54%
                                                                                                    51%
                                                                                                                49%

                                                                                                                            41%

                            Italy              Spain                 France   Belgium   Nordics   UK/Ireland   Germany   Netherlands
                        Note: Europe; June 2019; 4,007 Respondents
                        Source(s): Salesforce Research; ID 1066662

33                                                                                                                                                           Statista
... and mobile
Less popular than online shopping, but mobile shopping apps are getting there
                         Share of consumers planning to shop through mobile apps during holiday season in Europe in 2019, by country   Online shopping takes
                                                                                                                                       many shapes, and mobile,
                                                                                                                                       whether in a browser or an
                        80.0%
                                                                                                                                       app, is gaining more
                                       69%                                                                                             traction with consumers.
                        70.0%                            67%
                                                                                                                                       For Christmas shoppers as
                                                                                                                                       well, mobile apps were an
                        60.0%                                         57%                                                              attractive option across
                                                                                53%      53%
 Share of respondents

                                                                                                     49%                               Europe.
                        50.0%                                                                                     46%          46%

                        40.0%

                        30.0%

                        20.0%

                        10.0%

                        0.0%
                                       Italy            Spain        Belgium   France   Nordics   Netherlands UK/Ireland     Germany
                        Note: Europe; June 2019; 4,007 Respondents
                        Source(s): Salesforce Research; ID 1066732

34                                                                                                                                                          Statista
High streets: UK's beloved for Christmas shopping
Preferred Christmas shopping locations in the UK 2018
                        Where will you be doing most of your shopping this Christmas?                      UK shoppers do not love online less, but
                                                                                                           high street shopping more. At least when it
                                                    Share of respondents
                                                                                                           comes to Christmas shopping. While a mix
                                                         0.0%      5.0%    10.0% 15.0% 20.0% 25.0% 30.0%   of channels such as mobile apps and
                                                                                                           retailer websites were not off the table for
                                  On the high street                                                28%
                                                                                                           UK Christmas shoppers, high streets and
                                                                                                           shopping centers trumped all other options.
                               In a shopping center                                        21%             In a 2018 consumer survey commissioned
                                                                                                           by one of the UK's leading retail industry
                 On a retailer's website on a PC                                          20%              publications Retail Week, pure-play
                                                                                                           marketplaces such as Amazon and eBay
On a marketplace (such as Amazon or eBay)                                           15%                    were revealed to be popular destinations
                                                                                                           for only 15 percent of Christmas shoppers.
                                      At a retail park                         8%

     On a retailer's website on a mobile phone                            6%

                 Through a retailer's mobile app                   2%

                               At a discount village               2%

      Note: United Kingdom; 2018; 2000 Respondents; UK consumers
      Source(s): Retail Week; Valitor; ID 946863

35                                                                                                                                                Statista
Online brings a breath of fresh air to UK Christmas retail
Store sales stall, online charges on in the UK

High street shopping and                  Online and store-based retail sales during Christmas season in the United Kingdom (UK) from 2017 to 2018 (in billion GBP)
spending in physical stores
make up the backbone of
Christmas retail. Yet, the                                                                     Online   Store-based
pace with which online is                                               60
                                                                                           55.89                                              54.61
keeping up hints at many
more digital Christmases
                                                                        50
to come. Between the two
Christmases in 2017 and                    Sales value in billion GBP
2018, store-based sales in                                              40
the UK regressed by 2.3
percent, whereas online
                                                                        30
sales made a solid 10                                                                                                  25.11
percent progress.                                                            22.8
                                                                        20

                                                                        10

                                                                        0
                                                                                    2017                                          2018
     Note: United Kingdom; 2017 to 2018
     Source(s): CRR; ID 1063630

36                                                                                                                                                          Statista
What are UK holiday shoppers buying online and offline?
Books and gadgets are the two fixtures on online holiday shopping lists

This Christmas season,                                    Product categories on which holiday shoppers plan spending in the United Kingdom (UK) 2019, by channel
online shopping plans of
UK consumers favored
                                                                                                  Share of respondents
items such as books and
electronics over other retail                                                                         Offline   Online
consumption. A consumer                                                0.0%    10.0%    20.0%    30.0%    40.0%    50.0%    60.0%    70.0%    80.0%    90.0% 100.0%
survey from Periscope by
McKinsey confirmed a                          Beauty & fragrances
common resistance                                               Car
associated with otherwise                                 Clothing
rampant online shopping:                     Consumer electronics
UK shoppers still planned                                Furniture
to do their household                                    Gift cards
shopping for food and                         Grocery / Beverages
groceries mostly offline in                      Home furnishings
the 2019 holiday season.                       Kitchen appliances
                                             Movies / Books /Music
                                                             Travel
                                                               Toys
                                                              Other

     Note: United Kingdom; August 2019; 501 Respondents
     Source(s): Periscope; ID 1074935

37                                                                                                                                                                 Statista
German shoppers stick to the shops
...but with less loyalty over the years
                                                     Do you prefer buying Christmas presents online or at local retailers?                                     Annual Christmas surveys
                                                                                                                                                               published by Ernst &
                                                      Preferably at local retailers                  Preferably online      No preference                      Young reveal that German
                        80.0%         75%
                                                                                                                                                               shoppers' loyalty towards
                                                                           71%                                                                                 physical stores is
                        70.0%                                                                                  68%                                             diminishing. Shoppers no
                                                                                                                                                               longer depend entirely on
                        60.0%                                                                                                                                  town centres, department
                                                                                                                                            53%
 Share of respondents

                                                                                                                                                               stores and supermarkets
                        50.0%                                                                                                                                  for their Christmas
                                                                                                                                                               shopping as online
                        40.0%                                                                                                                                  channels provide better
                                                                                                                                                               prices, increased variety,
                        30.0%                                                                                                                            26%   and availability - important
                                                                                                 20%                            20%               21%          factors that drive the
                        20.0%                                                                                                                                  Christmas gift shopping
                                                            14%
                                                 11%                                                                     12%                                   process.
                                                                                       9%
                        10.0%

                        0.0%
                                                2015                                  2016                               2017                     2018
                        Note: Germany; October 2015 to 2018; 18 years and older; 1,000 Respondents
                        Source(s): EY; ID 1069252

38                                                                                                                                                                                     Statista
Online is the way to go for consumer electronics purchases
Leading product categories that German shoppers prefer to buy online as of 2019
                            Which Christmas gifts do you prefer buying online rather than at retailer stores?                                              According to Statista's
                                                                                                                                                           2019 Holiday Season &
                                                                     Share of respondents
                                                                                                                                                           New Year survey, German
                                                                    0.0%          10.0%         20.0%         30.0%         40.0%      50.0%     60.0%     consumers have a clear
Consumer electronics (CDs, DVDs, BluRays, etc.)                                                                                                      62%   notion of what to purchase
                                         Books and e-books                                                                                         59%     from the web rather than
                                                                                                                                                           the shop. Similar to UK
                Computer and computer accessories                                                                                           52%
                                                                                                                                                           shoppers, German
                                                            Travel                                                                          52%            consumers are also most
                                                       Gift cards                                                                           51%            open to buying electronics
     Smartphones, tablets and related accesories                                                                                           49%             online rather than offline.
                                   Games, toys, dolls, etc.                                                                          43%
                                             Household items                                                                     39%
                                Clothing, textile, footwear                                                                  36%
     Cosmetics, perfumes, personal care products                                                                         33%
                                       Jewelry and watches                                                      27%
                                          Decoration articles                                                25%
                                                        Furniture                                       21%
                                       Food and beverages                            8%

     Note: Germany; October 16-21, 2019; 18 years and older; 722 Respondents; Bought at least one gift online rather than in store
     Source(s): Statista Survey; ID 1076721

39                                                                                                                                                                                Statista
Just browsing
Online has a broader function in the shopping journey

Christmas shopping is an equation with multiple variables.
Online or offline, Christmas shoppers want to get their Christmas
shopping done. Yet, questions abound: what to buy, where to
buy, and how much to spare. Help comes from a multitude of
sources: TV, out-of-home, physical stores, print and digital
media - all race to get the attention of the Christmas shopper.

The unique advantages online channels offer - such as access
to a wide network of customer reviews, price comparisons and a
greater variety of choice - give digital sources a further edge in
the consumers' Christmas shopping quest. But the end result
doesn't have to be a purchase. Shoppers browse and buy online
or browse online and finalize the shopping experience in store.
Either way, online channels inform and shape the decisions
shoppers make to an increasing degree.

40
UK shoppers inspired equally by online and in-store
Online plays a greater role in researching for Christmas gifts in the UK
                         Festive season gift inspiration and discovery channels in the United Kingdom (UK) in 2018   Insights from Facebook's 2019 Holiday
                                                                                                                     Study suggest that last Christmas shoppers
                                                                                                                     in the United Kingdom consulted online
                        80.0%
                                                                                                                     sources and physical stores for ideas and
                                          70%                      70%                                               inspirations equally on their holiday
                        70.0%                                                                                        shopping quest. True multichannel
                                                                                                                     browsers, UK shoppers were more likely to
                        60.0%                                                                                        utilize online when choosing and
 Share of respondents

                                                                                                                     purchasing gifts compared to all those
                        50.0%                                                                                        surveyed across the EMEA region.

                        40.0%

                        30.0%                                                                       27%
                                                                                            22%
                        20.0%
                                                                                                            13%
                        10.0%

                        0.0%
                                         Online                  In store                   Print   TV    Outdoor
                        Note: United Kingdom; 2018; 18 years and older; 1,501 Respondents
                        Source(s): Facebook; Ipsos; ID 1076500

41                                                                                                                                                        Statista
Germany and the Netherlands
Inspiration and discovery channels for Christmas purchases
                        Holiday gift inspiration and discovery channels in Germany in 2018                             Holiday gift inspiration and discovery channels in Netherlands in 2018   Physical
                                                                                                                                                                                                stores were
                                                                                                                                                                                                still relevant
                        70.0%                                                                                                   70.0%             66%                                           for German
                                                      61%                                                                                                                                       consumers
                        60.0%                                                                                                   60.0%                                                           not only when
                                       53%                                                                                              52%                                                     they were
                        50.0%                                                                                                   50.0%                                                           making their

                                                                                                         Share of respondents
 Share of respondents

                                                                                                                                                                                                Christmas
                                                                                                                                                                                                purchases,
                        40.0%                                                                                                   40.0%
                                                                                                                                                                                                but also when
                                                                                                                                                                                                they were
                        30.0%                                                                                                   30.0%                         28%                               looking for gift
                                                                    24%                                                                                                                         ideas and
                                                                                                                                                                          21%
                        20.0%                                                      17%                                          20.0%                                                           inspirations.
                                                                                                                                                                                                The same
                                                                                           11%                                                                                        11%       went for Dutch
                        10.0%                                                                                                   10.0%
                                                                                                                                                                                                shoppers.

                         0.0%                                                                                                   0.0%
                                     Online        In store         Print            TV   Outdoor                                       Online   In store     Print        TV       Outdoor
                         (1) Note: Germany; 2018; 18 years and older; 1,502 Respondents             (2) Note: Netherlands; 2018 ; 18 years and older; 1,500 Respondents
                         Source(s): Facebook; Ipsos; ID 1076522                                     Source(s): Ipsos; Facebook; ID 1076562

42                                                                                                                                                                                                         Statista
Italy and Spain
Inspiration and discovery channels for Christmas purchases
                         Holiday gift inspiration and discovery channels in Italy in 2018                                           Holiday gift inspiration and discovery channels in Spain in 2018     For shoppers
                                                                                                                                                                                                         in Italy and
                                                                                                                                                                                                         Spain, digital
                        80.0%                                                                                                      80.0%
                                                                                                                                                                                                         sources
                                                                                                                                                           71%                                           carried more
                                                      69%
                        70.0%                                                                                                      70.0%       66%                                                       weight than
                                      65%
                                                                                                                                                                                                         they did for
                        60.0%                                                                                                      60.0%                                                                 Dutch and

                                                                                                            Share of respondents
 Share of respondents

                                                                                                                                                                                                         German
                        50.0%                                                                                                      50.0%                                                                 consumers.

                        40.0%                                                                                                      40.0%
                                                                                                                                                                                    30%
                        30.0%                                                                                                      30.0%

                                                                                       19%
                        20.0%                                                                                                      20.0%
                                                                      15%                                                                                               15%                      14%
                                                                                              13%
                        10.0%                                                                                                      10.0%

                        0.0%                                                                                                       0.0%
                                     Online         In store          Print            TV    Outdoor                                          Online      In store      Print        TV        Outdoor
                        (1) Note: Italy; 2018; 18 years and older; 1,501 Respondents                   (2) Note: Spain; 2018; 18 years and older; 1,503 Respondents
                        Source(s): Facebook; Ipsos; ID 1067822                                         Source(s): Facebook; Ipsos; ID 1076659

43                                                                                                                                                                                                                 Statista
Denmark and Sweden
Inspiration and discovery channels for Christmas purchases
                        Holiday gift inspiration and discovery channels in Denmark in 2018                                      Holiday gift inspiration and discovery channels in Sweden in 2018   Among those
                                                                                                                                                                                                    surveyed in
                                                                                                                                                                                                    Facebook's
                        70.0%                                                                                                   60.0%       57%                                                     Holiday Study,
                                                                                                                                                        52%                                         Sweden was
                        60.0%                         58%                                                                                                                                           the only other
                                       56%                                                                                      50.0%
                                                                                                                                                                                                    country (after
                        50.0%                                                                                                                                                                       the UK),

                                                                                                         Share of respondents
 Share of respondents

                                                                                                                                40.0%                                                               where
                                                                                                                                                                                                    shoppers
                        40.0%
                                                                                                                                                                                                    utilized online
                                                                                                                                30.0%                                                               channels
                                                                                                                                                                    25%
                        30.0%                                                                                                                                                                       more than any
                                                                     22%                                                                                                                            other
                                                                                                                                20.0%
                        20.0%                                                                                                                                                   16%                 conventional
                                                                                    16%
                                                                                                                                                                                             11%    sources.
                                                                                            8%                                  10.0%
                        10.0%

                         0.0%                                                                                                   0.0%
                                     Online         In store        Print            TV   Outdoor                                          Online     In store      Print        TV       Outdoor
                         (1) Note: Denmark; 2018; 18 years and older; 1,500 Respondents             (2) Note: Sweden; 2018; 18 years and older; 1,500 Respondents
                         Source(s): Ipsos; Facebook; ID 1068018                                     Source(s): Facebook; Ipsos; ID 1076922

44                                                                                                                                                                                                            Statista
What does the European Christmas shopper want online?
From free delivery to flexible returns: the wish list of online Christmas shoppers

Getting into the mind of the Christmas shopper is a daunting
task. Consumer expectations and plans depend on so many
things: budget, demographics, time available to the shopper.
When online shopping factors into this, beyond common
advantages such as convenience and better pricing, other
considerations emerge for the Christmas shopper such as
supply chain and fulfilment capabilities of retailers. In the recent
past, many online retailers learnt their lesson the bitter way:
delays in delivery of Christmas purchases pushed consumers to
frustration and put the brand image of retailers into jeopardy. To
combat this, retailers now define deadlines for holiday purchase
orders and offer lax return policies. The courier services and
delivery staff of online retailers receive special seasonal
reinforcement as well. All to keep the Christmas shopper coming
to the online shop.

45
What does the Christmas shopper want online?

     Austria                     Germany                  UK
     Access to                   Home                     Low
     customer                    delivery                 cost delivery
     reviews

     74%                         80%                      79%
     Italy                       Netherlands              Sweden
     Price                       Access to                Fast
     comparison                  customer                 delivery
                                 reviews

     60%                         62%                      65%

                  Norway                       Denmark
                  Broad return                 Fast
                  deadline                     delivery

                  75%                          78%

47
04   Christmas comes early: the Black
     Friday effect in Europe
     ▪ Black Friday and Cyber Week in Europe
     ▪ Black Friday retail sales
Black Friday in Europe
Consumers get the most out of Christmas with Black Friday

Christmas comes but once a year, but for shoppers and retailers
it comes earlier now. Across Europe, many consumers already
begin their Christmas shopping as early as September in a bid
to avoid the stress of frenzied crowds on high streets. Thanks to
the wild popularization of the most popular U.S. shopping event,
Black Friday, in the rest of the world, the holiday shopping
season now has an unofficial kickstarter in Europe as well.

Originally an American shopping event that marks the end of
Thanksgiving Day, Black Friday sees special retailer discounts
on a massive scale, online and in brick-and-mortar stores alike.
While it has still not caught on on the high street as widely as it
has across the Atlantic, European shoppers have by no means
been slow to catch up with the frenzy of Black Friday shopping.
Today, awareness of and participation in Black Friday and its
adjacent Cyber Monday sales have increased enough to make
them a commonplace presence in the Christmas shopping
journey of European consumers.

48
Holiday season starts with excessive shopping in the U.S.
Number of people who shopped during the Black Friday weekend in the U.S. in 2017 and 2018, by day
                  Number of people who shopped Thanksgiving weekend in the U.S. from 2017 to 2018, by day (in millions)                                   The Black Friday craze lasts from
                                                                                                                                                          Thanksgiving Thursday until the following
                                                                                                                                                          Monday, or, as retailers like to call it, Cyber
                                                                                   2017        2018        2019                                           Monday. According to estimates of the
                                140                                                                                                                       National Retail Foundation, the number of
                                                                                                                                                          individuals who shopped over this five-day
                                120                               115.7116.4114.6                                                                         period reached over 300 million in 2018.
 Number of people in millions

                                100
                                                                                                                                       78.4 75.8
                                 80                                                         71.3 67.9
                                                                                                      66.6                                         68.7

                                 60
                                                        39.6
                                 40       32      35                                                                  35.2 33 33.3

                                 20

                                  0
                                           Thursday                  Black Friday                Saturday                     Sunday   Cyber Monday
                                         (Thanksgiving)
                                                                                                    Day
                                 Note: United States; October 31 to November 6, 2019; 18 years and older; 7,917 Respondents
                                 Source(s): National Retail Federation; Prosper Insights & Analytics; ID 243501

49                                                                                                                                                                                                   Statista
Black Friday: a serious business in Europe
UK and Germany spend the most over Black Friday

Black Friday may be a U.S. phenomenon,                      Total value of sales during Black Friday and Cyber Monday in selected European countries in 2018
but European consumers warmed to the                                                      with a forecast for 2019 (in million GBP)
shopping craze in no time. Unlike the U.S.,
where brick-and-mortar stores see some of                                                                 2018   2019
the most overwhelming images of                                                 9000
consumers racing to grab the top bargains,
Black Friday is predominantly an online                                         8000
affair in Europe. In fact, the DACH region's
                                                                                7000
own mega sales event, "Black Friday Sale",

                                                      Spending in million GBP
is dedicated purely to sales offered by                                         6000
online retailers. This Europeanized version
of Black Friday greets shoppers on its                                          5000
websites with impatient displays of the                                         4000
countdown to the year's biggest day of
flash sales.                                                                    3000

                                                                                2000

                                                                                1000

                                                                                  0
                                                                                       UK   Germany   France     Italy    Spain     Netherlands   Belgium
     Note: Europe; 2018
     Source(s): VoucherCodes.co.uk; CRR; ID 1075269

50                                                                                                                                                      Statista
Black Friday consumer budget in European countries
Expected spend per person during Black Friday in selected countries in Europe in 2018
                                                       Average spend per person in euros
                     0                    50    100         150               200                250   300     350     400

United Kingdom                                                                                                  346

         Ireland                                                                                         300

         Austria                                                                                234

         Finland                                                                          221

      Germany                                                                         211

         Greece                                                                     206

       Slovakia                                                                     203

             Italy                                                           185

       Portugal                                                         179

           Spain                                                       173

         Russia                                       118

         Turkey                                84

     Note: Europe; 2018; 12,000 Respondents
     Source(s): Picodi; ID 934968

51                                                                                                                    Statista
Black Friday discount rates in Europe
Average discount rate offered by stores during Black Friday in selected European countries in 2018
                                                      Average discount rate
                   0.0%               10.0%   20.0%            30.0%          40.0%         50.0%           60.0%

United Kingdom                                                                                                      63%

       Germany                                                                                        53%

          Austria                                                                                   51%

     Switzerland                                                                                    51%

            Spain                                                                       47%

              Italy                                                                   45%

         Sweden                                                                       45%

          Finland                                                                     45%

      Note: Europe
      Source(s): Picodi; ID 1067993

52                                                                                                                  Statista
Trailblazing European retail
Spanish shoppers were the most keen to purchase on Black Friday in 2018

In Europe, the most dizzying Black Friday                         Percentage change in retail sales on Black Friday and Cyber Monday in Europe in 2018, by country
in 2018 took place in Spain, where retail
sales saw the biggest spike. According to
data analyzed by commerce marketing                                                                                      Black Friday       Cyber Monday
company Criteo, major European countries
                                                                                            401%
felt the impact of both Black Friday and                                                                  387%
Cyber Monday in retail transactions to
enormous degrees - varying from an                                                                                     332%

                                                                Sales transactions growth
increase of 156 to over 400 percent.                                                                                                 282%          279%          277%

                                                                                                   163%                       152%                                             156%
                                                                                                                                                          137%
                                                                                                                                            114%                        104%
                                                                                                                 90%
                                                                                                                                                                                      54%

                                                                                              Spain        Sweden       United       Netherlands    France       Switzerland   Germany
                                                                                                                       Kingdom
     Note: Europe; October 2018 to November 2018; all retail.
     Source(s): Criteo; ID 1065500

53                                                                                                                                                                                     Statista
Most purchased products on Black Friday
Consumer electronics attract the most attention from shoppers
    Sales index of most purchased retail products purchased in the EMEA region during Black Friday in 2018, by category   The most purchased product
                                                                                                                          categories during Black
                                                                                                                          Friday suggest that
               400               373
                                                                                                                          consumers hunted for
               350                                333
                                                        317              307                                              bargains on pricier items -
               300                                                                                                        and retailers obliged. In
 Sales index

               250                                                                                                        2018, Black Friday shoppers
               200                                                                                                        spoiled themselves with
                                                                                           141               136          consumer electronics and
               150
                                                                                                                          luxury purchases.
               100
                50
                 0

                Note: Europe; 2018; all retail.
                Source(s): Criteo; ID 1067876

54                                                                                                                                             Statista
It's not just tech that has its big day on Black Friday
Fashion and luxury sales went through the roof in Spain and the UK
        Percentage change in retail sales of fashion and luxury items on Black Friday in Europe in 2018, by country                When consumers were not
                                                                                                                                   looking to replace their
                                                                                                                                   Smart TVs or upgrade to a
                                                                 Retail sales growth
                                                                                                                                   new virtual assistant, they
                    0.0%         50.0%        100.0%        150.0%   200.0%   250.0%    300.0%   350.0%   400.0%   450.0%          were renewing their
                                                                                                                                   wardrobes with fashion
            Spain                                                                                                           471%   and luxury items. In major
                                                                                                                                   European countries, the
United Kingdom                                                                                                       437%          number of transactions in
                                                                                                                                   this category saw an
         Sweden                                                                                               406%                 increase of over 200
                                                                                                                                   percent compared to the
     Netherlands                                                                                 328%                              four-week period before
                                                                                                                                   Black Friday.
          France                                                                          290%

     Switzerland                                                                 243%

       Germany                                                           206%

      Note: Europe; October 2018 to November 2018; all retail
      Source(s): Criteo; ID 1059763

55                                                                                                                                                       Statista
Black Friday and Christmas: perfect together
Consumers drawn to the lure of Black Friday for their Christmas shopping

Unlike in the U.S., there is no definitive date that officially marks
the beginning of the holiday season in Europe. Indeed, it is more
than likely to see supermarkets stacking festive products against
the backdrop of merry tunes annoyingly early in the season. But
it is possible to say that with the transformation of Black Friday
and Cyber Monday from an American shopping indulgence to a
global event, traditional shopping timelines and preferences of
European consumers have shifted.

This was true to the degree that, ditching Boxing Day and pre-
Christmas sales, consumer surveys showed that UK consumers
picked Black Friday as their preferred shopping day. German
consumers were partial to Black Friday as well, but not without
showing some degree of indifference to any form of shopping
event first. A survey conducted by Periscope Solutions by
McKinsey found that if Germans chose to participate at all, Black
Friday and Cyber Monday overtook more traditional discount
opportunities like pre-Christmas sales.

56
Move aside, Christmas sales
Black Friday is arguably the most popular retail event in Europe

The period between the                                                           Daily sales index in the EMEA region during holiday season in 2018, by event
American Thanksgiving
                                                                 400
weekend and New Years is
nothing short of a series of                                               345
special shopping events.                                         350
In Europe, Black Friday
and Cyber Monday saw                                             300

                                       Daily sales index value
the most concentrated
retail sales activity by far.                                    250
Cyber Monday and the
freshly-minted shopping                                                                   195
                                                                 200
event "Singles Day" also
triggered greater sales                                                                                   143
                                                                 150
activity.                                                                                                                120
                                                                                                                                         106
                                                                 100                                                                                     85
                                                                                                                                                                    71

                                                                  50

                                                                   0
                                                                       Black Friday   Cyber Monday   Singles Day     Boxing Day       Halloween      Christmas   New Years
     Note: Europe; 2018; all retail.
     Source(s): Criteo; ID 1067834

57                                                                                                                                                                       Statista
Black Friday's imprint on the holiday season: Germany
Main holiday event participation among German consumers
                             Holiday shopping event participation preferences of consumers in Germany in 2019                   A holiday insights study conducted by
                                                                                                                                Periscope by McKinsey revealed some
                                                                                                                                interesting conclusions around holiday
                                          42%                                                                                   shopping preferences of consumers. Of
                                                                  40%
                        40.0%                                                                                                   those consumers surveyed in Germany, 42
                                                                                                                                percent stated an aversion to any holiday
                        35.0%                                                                                                   shopping event in 2019. If they were
                                                                                                                                interested, however, Black Friday and
 Share of respondents

                        30.0%                                                                                                   Cyber Monday had precedence over pre-
                                                                                          26%
                        25.0%
                                                                                                                                Christmas sales.
                                                                                                       21%
                        20.0%                                                                                         18%

                        15.0%

                        10.0%

                        5.0%

                        0.0%
                                       I do not              Black Friday           Cyber Monday   Pre-Christmas   Cyber Week
                                      participate                                                      Sales
                        Note: Germany; August 2019; 18 years and older; 501 Respondents
                        Source(s): Periscope; ID 1065456

58                                                                                                                                                                   Statista
Black Friday's imprint on the holiday season: United Kingdom
Main holiday event participation among UK consumers
   Holiday shopping event participation preferences of consumers in the United Kingdom (UK) in 2019                           When it comes to the UK results, Boxing
                                                                                                                              Day sales were still seen to be cherished.
                                                                                                                              In fact, a higher share of consumers
                                          51%                                                                                 preferred Boxing Day shopping to Cyber
                        50.0%                                                                                                 Monday sales. Black Friday still remained
                                                                                                                              the clear winner with the majority of
                                                                                                                              consumers planning to participate in the
                        40.0%
                                                                   36%                                                        event.
 Share of respondents

                                                                                           32%
                        30.0%                                                                       27%

                                                                                                                   22%
                        20.0%

                        10.0%

                        0.0%
                                     Black Friday         Boxing Day Sales Pre-Christmas          I do not     Cyber Monday
                                                                               Sales             participate
                        Note: United Kingdom; August 2019; 18 years and older; 501 Respondents
                        Source(s): Periscope; ID 1065433

59                                                                                                                                                                   Statista
Holiday shopping timeline in Europe
Christmas shopping gets done between late November and early December
                        When shoppers begin holiday shopping in selected European countries in 2019, by time of year   In the UK, Germany, Sweden, and the
                                                                                                                       Benelux countries, consumers invariably
                                                                                                                       concentrated on the first half of December
                                                         UK          Germany              Benelux   Sweden             to start their holiday shopping. Another peak
                                                                                                                       time for Christmas shopping was late
                                                                                                                       November, particularly so with UK and
 Share of respondents

                                                                                                                       German shoppers.

                                                                                                                       The shopping window in the last two weeks
                                                                                                                       of November coincides with Black Friday
                                                                                                                       and Cyber Monday, which again is likely to
                                                                                                                       create a ripple effect well into December.
                                                                                                                       The fact that Black Friday is an organized
                                                                                                                       event marketed globally on a massive scale
                                                                                                                       makes this shopping phenomenon an
                                                                                                                       attractive option for the spending masses.
                                                                                                                       In any case, the convenient blending of
                                                                                                                       Black Friday with Christmas sales provides
                                                                                                                       an opportunity for those who like to keep on
                                                                                                                       top of their Christmas holiday shopping lists.
                         Note: Europe; December 2018 to January 2019; 4,500 Respondents
                         Source(s): Episerver; ID 1077857

60                                                                                                                                                             Statista
Recommendations

Dossiers
Black Friday in the UK

Black Friday in the Netherlands

Thanksgiving weekend shopping in the U.S.

Christmas in Scandinavia

Christmas in Sweden

Christmas season in the U.S.

Holiday season shopping in Canada

Statista Consumer Survey
Holiday Season & New Year in the UK 2019

Holiday Season & New Year in the U.S. 2019

61                                           Statista
Sources
British Retail Consortium    OECD

Criteo                       Office for National Statistics (UK)

CRR                          Periscope

Deloitte                     Picodi

Episerver                    Prosper Insights & Analytics

European Commission
                             Retail Week
Eurostat
                             Salesforce Research
EY
                             Statista Survey
Facebook
                             Statistisches Bundesamt
Ferratum
                             Valitor
GlobalData
                             VoucherCodes.co.uk
HDE

Ipsos

KPMG

National Retail Federation

63                                                                 Statista
Author

                   Tuğba Şabanoğlu
                   Expert – Retail & E-commerce Europe

                   tugba.sabanoglu@statista.com

                   Tuğba Şabanoğlu is the Statista specialist for research on retail and e-commerce in the United Kingdom and Europe. She is a
                   graduate of Freie Universität Berlin and holds an M.A. degree in English Studies.

www.statista.com
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