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Sections |
| Title | Starting Page | Number of Pages |
|---|
| CHAPTER 1 EXECUTIVE SUMMARY 6
Key findings 6
Main conclusions 7
CHAPTER 2 ECONOMIC OVERVIEW 10
Main messages 10
GDP Top 10 11
Top 10 GDP forecasts - bleak outlook 12
GDP: midranking eight 13
Midranking eight - GDP may fall for all after revisions 14
GDP: s | 0 | 1 |
| CHAPTER 1 EXECUTIVE SUMMARY 6 | 0 | 1 |
| Key findings 6 | 0 | 1 |
| CHAPTER 1 EXECUTIVE SUMMARY | 13 | 117 |
| Key findings | 13 | 1 |
| Main conclusions 7 | 0 | 1 |
| CHAPTER 2 ECONOMIC OVERVIEW 10 | 0 | 1 |
| Main conclusions | 14 | 3 |
| CHAPTER 2 ECONOMIC OVERVIEW | 17 | 20 |
| Main messages 10 | 0 | 1 |
| GDP Top 10 11 | 0 | 1 |
| Main messages | 17 | 1 |
| GDP Top 10 | 18 | 1 |
| Top 10 GDP forecasts - bleak outlook 12 | 0 | 1 |
| GDP: midranking eight 13 | 0 | 1 |
| Top 10 GDP forecasts bleak outlook | 19 | 1 |
| GDP: midranking eight | 20 | 1 |
| Midranking eight - GDP may fall for all after revisions 14 | 0 | 1 |
| GDP: smaller nine 15 | 0 | 1 |
| Midranking eight GDP may fall for all after revisions | 21 | 1 |
| GDP: smaller nine | 22 | 1 |
| Smaller nine - GDP reductions bad for Baltics 16 | 0 | 1 |
| Consumer expenditure 17 | 0 | 1 |
| Smaller nine GDP reductions bad for Baltics | 23 | 1 |
| Consumer expenditure | 24 | 2 |
| Structure 19 | 0 | 1 |
| Inflation falls rapidly 21 | 0 | 1 |
| Structure | 26 | 2 |
| Inflation falls rapidly | 28 | 1 |
| HICP annual averages 22 | 0 | 1 |
| Savings rate to increase sharply 24 | 0 | 1 |
| HICP annual averages | 29 | 2 |
| Savings rate to increase sharply | 31 | 1 |
| Euro interest rate turns downwards 25 | 0 | 1 |
| Other interest rates 27 | 0 | 1 |
| Euro interest rate turns downwards | 32 | 2 |
| Other interest rates | 34 | 1 |
| Unemployment - lagging indicator 28 | 0 | 1 |
| CHAPTER 3 EU RETAIL SPEND 30 | 0 | 1 |
| Unemployment lagging indicator | 35 | 2 |
| CHAPTER 3 EU RETAIL SPEND | 37 | 3 |
| Latest expenditure trends 30 | 0 | 1 |
| CHAPTER 4 EU PRIVATE LABEL MARKET 33 | 0 | 1 |
| Latest expenditure trends | 37 | 3 |
| CHAPTER 4 EU PRIVATE LABEL MARKET | 40 | 5 |
| Private label market share by volume - on the rise 33 | 0 | 1 |
| Private label market share by volume on the rise | 40 | 2 |
| Switzerland has top private label penetration due to Migros 35 | 0 | 1 |
| Discounter Denner now part of Migros 36 | 0 | 1 |
| Switzerland has top private label penetration due to Migros | 42 | 1 |
| Discounter Denner now part of Migros | 43 | 1 |
| Private label market share by value - not far behind 37 | 0 | 1 |
| Loi Galland makes France a private label anomaly 39 | 0 | 1 |
| Private label market share by value not far behind | 44 | 1 |
| CHAPTER 4 | 45 | 3 |
| But discounter threat prompts refocus on private label 39 | 0 | 1 |
| Crisis triggered enhancement of private label offer 40 | 0 | 1 |
| Loi Galland makes France a private label anomaly | 46 | 1 |
| But discounter threat prompts refocus on private label | 46 | 1 |
| CHAPTER 5 KEY ISSUES 41 | 0 | 1 |
| Deflation the major threat 41 | 0 | 1 |
| Crisis triggered enhancement of private label offer | 47 | 1 |
| CHAPTER 5 KEY ISSUES | 48 | 5 |
| Reaction to hard discounters depresses prices further 44 | 0 | 1 |
| Threat of deflation in wider economy 45 | 0 | 1 |
| Deflation the major threat | 48 | 3 |
| Reaction to hard discounters depresses prices further | 51 | 1 |
| CHAPTER 6 OUTLOOK 46 | 0 | 1 |
| Organics 47 | 0 | 1 |
| Threat of deflation in wider economy | 52 | 1 |
| CHAPTER 6 OUTLOOK | 53 | 2 |
| Managing the supplier relationship 47 | 0 | 1 |
| Opportunity in non-food 47 | 0 | 1 |
| Range revamp | 53 | 1 |
| Organics | 54 | 1 |
| CHAPTER 7 GROCERY DISCOUNTERS PROSPER 48 | 0 | 1 |
| Strategy differences in the private label offer 50 | 0 | 1 |
| Managing the supplier relationship | 54 | 1 |
| Opportunity in non-food | 54 | 1 |
| Green retailing - a private label opportunity 51 | 0 | 1 |
| Non-food a common problem area 52 | 0 | 1 |
| CHAPTER 7 GROCERY DISCOUNTERS PROSPER | 55 | 6 |
| Recession provides boost for discounters | 55 | 2 |
| CHAPTER 8 OTHER GROCERS REACT 53 | 0 | 1 |
| Private label range innovation, extension and relaunch 55 | 0 | 1 |
| Strategy differences in the private label offer | 57 | 1 |
| Green retailing a private label opportunity | 58 | 1 |
| Evaluation 56 | 0 | 1 |
| CHAPTER 9 GROCERY CASE STUDIES 59 | 0 | 1 |
| Non-food a common problem area | 59 | 2 |
| CHAPTER 8 OTHER GROCERS REACT | 61 | 7 |
| Carrefour 59 | 0 | 1 |
| Tackling the discounter threat | 61 | 3 |
| Carrefour private label ranges have been built over 25 years 60 | 0 | 1 |
| Carrefour launches discount range 60 | 0 | 1 |
| Private label range innovation, extension and relaunch | 64 | 1 |
| Evaluation | 64 | 4 |
| CHAPTER 9 GROCERY CASE STUDIES | 68 | 43 |
| Casino 66 | 0 | 1 |
| The original discounter range 66 | 0 | 1 |
| Carrefour | 68 | 1 |
| Europe s leading grocer | 68 | 1 |
| Carrefour private label ranges have been built over 25 years | 69 | 1 |
| Coles 72 | 0 | 1 |
| Private label downunder inspired by the old world 72 | 0 | 1 |
| Carrefour launches discount range | 69 | 3 |
| Carrefour s private label has been extended abroad | 72 | 3 |
| Delhaize 73 | 0 | 1 |
| Revamps US private label 73 | 0 | 1 |
| Casino | 75 | 1 |
| The original discounter range | 75 | 4 |
| US provides template for Belgium 74 | 0 | 1 |
| Eroski and Mercadona 76 | 0 | 1 |
| Casino s discount private label the first relaunch | 79 | 2 |
| Coles | 81 | 1 |
| Eroski lowers price of its own brands 76 | 0 | 1 |
| Mercadona rationalises private label offer and lowers prices 77 | 0 | 1 |
| Private label downunder inspired by the old world | 81 | 1 |
| Delhaize | 82 | 1 |
| Metro Group 79 | 0 | 1 |
| Caught on the defensive 79 | 0 | 1 |
| Revamps US private label | 82 | 1 |
| US provides template for Belgium | 83 | 1 |
| Real adopts good-better-best after many years 79 | 0 | 1 |
| Sainsbury 82 | 0 | 1 |
| The Switch and Save campaign 82 | 0 | 1 |
| Eroski and Mercadona | 85 | 1 |
| Eroski lowers price of its own brands | 85 | 1 |
| Going Back to Basics 83 | 0 | 1 |
| Non-food an integral part of private label offer 84 | 0 | 1 |
| Mercadona rationalises private label offer and lowers prices | 86 | 2 |
| Metro Group | 88 | 1 |
| Tesco 89 | 0 | 1 |
| Adds fourth tier to traditional three-tier private label system 89 | 0 | 1 |
| Caught on the defensive | 88 | 1 |
| Discount brand is fourth tier 91 | 0 | 1 |
| Real adopts good-better-best after many years | 88 | 3 |
| Sainsbury | 91 | 1 |
| Waitrose 96 | 0 | 1 |
| Even upmarket Waitrose follows rivals into value essentials 96 | 0 | 1 |
| The Switch and Save campaign | 91 | 1 |
| Going Back to Basics | 92 | 1 |
| US cases: Wal-Mart and Target 98 | 0 | 1 |
| Catching up 98 | 0 | 1 |
| Non-food an integral part of private label offer | 93 | 5 |
| Tesco | 98 | 1 |
| US retailers have revamped existing private label offers 98 | 0 | 1 |
| Wal-Mart upgrades its private label brand 98 | 0 | 1 |
| Adds fourth tier to traditional three-tier private label system | 98 | 2 |
| Discount brand is fourth tier | 100 | 2 |
| DIY CASE STUDIES 102 | 0 | 1 |
| DIY outlook 102 | 0 | 1 |
| Tesco s private label offer abroad | 102 | 3 |
| Waitrose | 105 | 1 |
| Energy efficiency will be key driver 103 | 0 | 1 |
| Even upmarket Waitrose follows rivals into value essentials | 105 | 2 |
| Eco-friendly product ranges become increasingly common 104 | 0 | 1 |
| US cases: Wal-Mart and Target | 107 | 1 |
| Kingfisher 105 | 0 | 1 |
| Catching up | 107 | 1 |
| US retailers have revamped existing private label offers | 107 | 1 |
| B&Q sets example 107 | 0 | 1 |
| Praktiker 110 | 0 | 1 |
| Wal-Mart upgrades its private label brand | 107 | 2 |
| Target replaces bull s eye logo with a big arrow | 109 | 2 |
| Private label rationalisation 110 | 0 | 1 |
| Bauhaus 112 | 0 | 1 |
| CHAPTER 10 ELECTRICALS CASE STUDIES 114 | 0 | 1 |
| DIY CASE STUDIES | 111 | 11 |
| DIY outlook | 111 | 1 |
| Energy efficiency - future focus 114 | 0 | 1 |
| Best Buy 116 | 0 | 1 |
| Energy efficiency will be key driver | 112 | 1 |
| Eco-friendly product ranges become increasingly common | 113 | 1 |
| Metro Group 118 | 0 | 1 |
| Much to do in private label arena 118 | 0 | 1 |
| Kingfisher | 114 | 1 |
| Europe s largest DIY retailer | 114 | 2 |
| CHAPTER 11 GLOSSARY 119 | 0 | 1 |
| Definitions 119 | 0 | 1 |
| B&Q sets example | 116 | 3 |
| Praktiker | 119 | 1 |
| Abbreviations 120 | 0 | 1 |
| List of Tables | 0 | 1 |
| Private label rationalisation | 119 | 2 |
| Bauhaus | 121 | 1 |
| Table 1: Monthly HICP rates y-o-y Nov 2008-Apr 2009 21 | 0 | 1 |
| Table 2: Monthly unemployment rates y-o-y Oct 2008-Mar 2009 28 | 0 | 1 |
| CHAPTER 10 ELECTRICALS CASE STUDIES | 123 | 5 |
| Table 3: Monthly y-o-y change % in retail spend Oct 2008-Mar 2009 30 | 0 | 1 |
| List of Figures | 0 | 1 |
| Underlying opportunity for private label | 123 | 1 |
| Energy efficiency future focus | 123 | 2 |
| Figure 1: GDP for Top 10 countries in EU 2008e 11 | 0 | 1 |
| Figure 2: GDP forecast change % for Top 10 EU countries 2008 & 2009 12 | 0 | 1 |
| Best Buy | 125 | 1 |
| The world s leading electricals retailer | 125 | 2 |
| Figure 3: GDP for midsize eight (€100bn+) countries in EU 2008e 13 | 0 | 1 |
| Figure 4: GDP forecast change % for middle eight (€100bn+) 2008 & 2009 14 | 0 | 1 |
| Metro Group | 127 | 1 |
| Much to do in private label arena | 127 | 1 |
| Figure 5: GDP for smaller nine (€100bn-) countries in EU 2008e 15 | 0 | 1 |
| CHAPTER 11 GLOSSARY | 128 | 2 |
| Figure 6: GDP forecast change % for smaller nine (€100bn-) 2008 & 2009 16 | 0 | 1 |
| Figure 7: Consumer expenditure of Top 10 EU countries 2007 17 | 0 | 1 |
| Definitions | 128 | 1 |
| Abbreviations | 129 | 1 |
| Figure 8: Countries among other 17 in EU with consumer expenditure of €18bn+ 2007 18 | 0 | 1 |
| Figure 9: Countries among other 17 in EU with consumer expenditure of €18bn- 2007 18 | 0 | 1 |
| Figure 10: Consumer expenditure as % of GDP 2007 19 | 0 | 1 |
| Figure 11: Harmonised Index of Consumer Prices - annual average growth of Top 10 EU countries 2007 & 2008 22 | 0 | 1 |
| Figure 12: Harmonised Index of Consumer Prices - countries among other 17 in EU with annual averages over 4.5% 2007 & 2008 23 | 0 | 1 |
| Figure 13: Harmonised Index of Consumer Prices - countries among other 17 in EU with annual averages under 4.5% 2007 & 2008 23 | 0 | 1 |
| Figure 14: Gross household saving % of gross household disposable income (latest data) 2007 24 | 0 | 1 |
| Figure 15: ECB interest rates 2005-2009 25 | 0 | 1 |
| Figure 16: Central banks key reference interest rate averages for 2008 27 | 0 | 1 |
| Figure 17: Grocery private label volume share May 2009e * 33 | 0 | 1 |
| Figure 18: Grocery private label volume share in selected states May 2009 34 | 0 | 1 |
| Figure 19: Migros three-tier private label offer 2009 35 | 0 | 1 |
| Figure 20: Denner private label, Geneva 2009 36 | 0 | 1 |
| Figure 21: Grocery private label value share May 2009e 37 | 0 | 1 |
| Figure 22: Grocery private label value share in selected EU states May 2009 38 | 0 | 1 |
| Figure 23: EU monthly food price change (HICP y-o-y) May 2008-Apr 2009 41 | 0 | 1 |
| Figure 24: Oil spot price FOB weighted by estimated export volume ($/barrel) - monthly Mar 2008-May 2009 42 | 0 | 1 |
| Figure 25: Downward spiral of grocery prices in 2009 44 | 0 | 1 |