natal 2014 optimismo para o futuro, prudência no presente...optimismo para o futuro, prudência no...

Xmas Survey 2014 1

Natal 2014Optimismo para o futuro,prudência no presente Consumer business - Novembro 2014

Xmas Survey 20142

Índice

Prefácio 03 Editorial 06 Inside consumer mindset 12 2014 Christmas budget 30 Most desired and most popular holiday gifts 39 Purchasing strategies 50 The Omni-channel Consumer 56 Physical stores 68 Assessments of retailers 73 Survey methodology 78 Contactos 81

Xmas Survey 2014 3

Prefácio 03 Editorial 06 Inside consumer mindset 12 2014 Christmas budget 30 Most desired and most popular holiday gifts 39 Purchasing strategies 50 The Omni-channel Consumer 56 Physical stores 68 Assessments of retailers 73 Survey methodology 78 Contactos 81

Prefácio

Mantendo o compromisso dos anos anteriores, é com entusiasmo que a Deloitte divulga a 17ª edição do estudo sobre as tendências de consumo para a quadra natalícia de 2014.

Este estudo visa conhecer o sentido das tendências de consumo, tomando como referência as expectativas dos consumidores a nível de comportamento de compra para a época de Natal. Mais do que avaliar números avulsos, o estudo procura contextualizar no horizonte temporal e espaço europeu a evolução de um conjunto de indicadores.

Foram incluídos neste estudo um conjunto de 17 países. O estudo reflecte a opinião de uma amostra representativa de consumidores europeus, num total de 17.326 inquiridos, dos quais 760 portugueses.

Após três anos de programa de ajustamento liderado pela Troika, vamos viver o primeiro Natal no rescaldo do fim formal da assistência externa. Foi um período complexo, marcado pela austeridade e pela pressão fiscal, com evidente impacto nos hábitos e atitudes de consumo dos portugueses. Perante esta realidade, a grande questão reside em saber até que ponto algumas destas alterações são conjunturais ou estruturais.

As exportações têm sido a base do crescimento e do modelo de desenvolvimento do país preconizado pelo programa de ajustamento, de forma a compensar a ausência de investimento público e o fraco consumo interno. No ano de 2014, Portugal volta a ter um crescimento positivo do PIB, que se estima entre 1% e 1,5%,

consoante a fonte. As estimativas para o futuro próximo são de crescimento, mas abaixo dos 2%.

De acordo com os últimos dados disponibilizados pelo INE, em paralelo com os sinais positivos da evolução económica, as importações estão a crescer a uma taxa superior à das exportações. No conjunto dos três primeiros trimestres de 2014, relativamente ao mesmo período do ano anterior, as exportações aumentaram 1% e as importações registaram um aumento de 3,5%. Um bom indicador é a evolução do mercado automóvel que, em termos acumulados, até

Setembro, teve uma variação positiva de 38.4% face ao período homólogo de 2013.

Em 2014, também existiram sinais positivos a nível da competitividade de Portugal - resultado do programa de ajustamento e reformas instituído no país, do esforço dos empresários e da sociedade em geral. Portugal surpreendeu este ano com a 36º posição entre os 144 países analisados no ranking do Global Competitive Índex, promovido pelo

Após três anos de programa de ajustamento liderado pela Troika, vamos viver o primeiro Natal no rescaldo do fim formal da assistência externa

Xmas Survey 20144

Prefácio

World Economic Forum.

O estudo de Natal confirma a tendência dos últimos anos. Um país sempre à espera de melhor, mas com um grande realismo face ao cenário que vivemos. O mote deste Natal bem poderia ser - optimismo para o futuro, prudência no presente.

A tendência de melhoria do sentimento face à situação económica do país é mais acentuada em Portugal do que na Europa. Em 2014, 72% dos portugueses avalia como negativa a situação do país, face aos 83% de 2013, ou aos 88% de 2012. Relativamente ao poder de compra actual, não houve grandes melhorias para os portugueses, com 59% a percepcionar uma diminuição do seu rendimento disponível, face aos 57% de 2013, ou aos 68% de 2012.

De realçar que se verifica em Portugal uma melhoria muito significativa das expectativas de crescimento da economia para 2015, tendo o índice evoluído de (-46%) registado em 2013, quanto às expetactivas de evolução da economia no ano 2014, para (-25%) quanto às expetactivas de crescimento para o ano de 2015. Este movimento de melhoria surge em contraciclo com França, Itália, Luxemburgo ou Bélgica que manifestam um agravamento das expetactivas para o ano de 2015.

A Europa está dividida face às expectativas futuras de evolução do poder de compra, com Portugal a entrar no top 5 dos países mais optimistas. A nível do índice de expectativa da evolução do poder de compra, este ano Portugal melhora significativamente para os (-3%) face a (-14%) no ano de 2013, ou os (-44%) no ano de 2012.

Nesta conjuntura, o orçamento dos europeus para a época natalícia diminui em média 3% relativamente ao ano de 2013. Contrariamente a 2013, ano em que se registou uma ligeira expectativa de aumento dos gastos na quadra natalícia (0.7%), no presente ano, em 13 dos 17 países considerados na amostra verifica-se uma expectativa de diminuição dos gastos face ao ano anterior. Os portugueses, num contexto de percepção de perda de poder de compra em 2014, mas de significativa melhoria de expectativas para 2015, demonstram um elevado nível de prudência na alocação do seu orçamento para a quadra natalícia. Em 2014, é previsto um gasto total de 270€ (-10,8%) por lar, repartido da seguinte forma: 126€ em presentes (-16%); 99€ em alimentação e bebidas (-5,5%) e 45€ em socialização (-5%).

As tendências dos anos anteriores mantêm-se, com maior foco dos consumidores na variável preço e promoções, crescente importância do canal digital e uma maior proporção do orçamento anual dos portugueses a ser gasto em impostos, energia, saúde, educação e alimentação.

Neste contexto, à semelhança dos últimos anos, são vários os desafios com que o nosso tecido empresarial se depara, entre outros: gestão da inovação em novos modelo de negócio, por exemplo, tirando partido da crescente evolução do canal digital; eficiência na gestão da variável preço; optimização da gestão de promoções; eficiência na definição de prioridades e alocação de recursos a nível de route-to-market e, para uma parte significativa das empresas, a internacionalização.

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A exemplo dos anos anteriores, estamos convictos, de que o estudo de Natal justifica uma análise mais detalhada por parte das equipas de gestão, empresários, etc., contribuindo para que o consumidor e as suas necessidades estejam cada vez mais no centro da estratégia empresarial, garantindo modelos de negócio mais inovadores, sustentáveis e resilientes.

Desejamos que o crescente optimismo manifestado pelos portugueses se materialize em crescimento e bem-estar ao longo do ano de 2015.

Votos de um Feliz Natal e de um Próspero Ano Novo.

Luís BeloPartner - Consumer BusinessDeloitte

Nuno Netto Associate Partner - Consumer BusinessDeloitte

Prefácio

Xmas Survey 20146

Editorial

Tal como em 2013, a maioria dos consumidores europeus considera o actual estado da economia negativo mas com uma tendência de melhoria

Neste ano, 48% dos consumidores europeus acredita que o actual estado da economia é negativo, em comparação com os 50% de 2013. A tendência de melhoria mantém-se face aos anos de 2008, 2009, 2011, 2012 e 2013, mas ainda aquém dos níveis de 2006-2007, quando “somente” 37% classificava a situação da economia dos respetivos países como negativa.

Em Portugal, a tendência de melhoria do sentimento relativamente à situação económica do país é mais acentuada do que na Europa. Em 2014, 72% dos portugueses avalia como negativa a situação do país, face aos 83% de 2013, ou os 88% de 2012, mas ainda longe dos 45% registados em 2009, ano em que, aliás, 82% dos europeus já acreditava estar em recessão. Em 2014, com um sentimento mais negativo que os portugueses estão os gregos, os ucranianos e os italianos. Estes últimos apresentam, aliás, o pior índice de todos os países da amostra. De realçar que França tem praticamente o mesmo resultado que Portugal.

Quanto às expectativas para a economia em 2015, estas melhoram para a média dos europeus. O índice entre expectativas positivas e negativas é (-19%) face aos (-24%), no período homólogo, em 2013.

Portugal, Espanha e Grécia melhoram particularmente o índice de expectativas face ao futuro. Em Portugal, o índice regista uma melhoria significativa, evoluindo de (-46%) em 2013, quanto às expectativas para 2014, para (-25%) no presente ano, quanto às expectativas para 2015.

De notar que, relativamente ao próximo ano, França e Itália lideram as expectativas negativas, com índices negativos de 52% e 46%, respectivamente, seguidas da Grécia (-36%), Luxemburgo (-34%), Bélgica (-31%) e Ucrânia (-30%). Os únicos países com expectativas positivas são o Reino Unido e a Dinamarca. A Alemanha, considerada como o motor da Europa, apresenta um índice negativo de 10% relativamente às expectativas para o ano de 2015, invertendo o sentimento positivo registado no ano de 2014.

Os europeus mantêm a tendência de percepção de diminuição do seu poder de compra

A tendência dos últimos anos mantém-se, com os europeus a percepcionarem uma diminuição do seu poder de compra. Com efeito, 46% dos europeus afirma que diminuiu o seu poder de compra no ano de 2014. Os países com os valores mais negativos são a Grécia (-68%), Ucrânia (-67%) e Itália (59%).

Em Portugal, 59% dos inquiridos considera ter perdido poder de compra em 2014, face aos 57% de 2013 e aos 68% de 2012. Cumpre igualmente salientar, por um lado, que 51% dos franceses afirma ter perdido poder de compra e, por outro lado, que o único país com um índice positivo é o Reino Unido (+1%).

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A Europa está dividida face às expectativas futuras de evolução do poder de compra, com Portugal a entrar no top 5 dos países mais optimistas

Em Portugal, 25% dos inquiridos tem a expectativa de diminuir poder de compra em 2015, comparativamente com os 35% de 2013, face ao ano de 2014, ou os 55% de 2012, face ao ano de 2013. A nível de índice entre respostas negativas e positivas, Portugal melhora significativamente para os (-3%) face a (-14%) no ano de 2013, ou os (-44%) no ano de 2012.

Neste caso, observamos países como Portugal, Espanha ou Grécia a inverterem as suas expectativas negativas face à evolução futura do rendimento disponível e países como França, Bélgica ou Luxemburgo a piorarem significativamente as suas expectativas de rendimento disponível para o próximo ano. França, Itália, Luxemburgo e Bélgica são, de resto, os países com o índice mais negativo da amostra.

Os impostos acentuam a liderança como principal categoria a absorver o orçamento dos europeus

A pressão fiscal nunca foi tão acentuada como no ano de 2014, com 38% dos europeus a afirmar que gastou uma maior percentagem do seu rendimento em impostos, face aos 32% de 2013. De assinalar que 2014 é também o primeiro ano em que os gastos com saúde surgem como a terceira categoria de gastos, apenas atrás dos impostos e dos bens essenciais, como alimentação e energia. Em Portugal, importa notar que, comparativamente com o último ano, uma maior percentagem de pessoas afirma que está a incorrer em mais gastos face a 2013 em todas as categorias de produto. A categoria fiscal é a que mais

Editorial

cresce, com 44% dos portugueses a considerar que gastou mais do seu orçamento em impostos, face aos 35% registados em 2013.

O nível de resiliência dos portugueses mantém-se, continuando disponíveis para adaptar o seu nível de gastos em diversas categorias se assim for necessário

Uma vez mais a predisposição dos portugueses em cortar mais nos seus gastos, caso seja necessário, é superior à média dos europeus. No entanto, é interessante verificar que nas categorias de educação, bens essenciais, habitação e saúde, os portugueses, ao contrário do verificado no ano de 2013, já demonstram uma maior resistência para cortar nas despesas destas categorias face aos congéneres europeus. Este cenário é com elevada probabilidade resultado do forte reajustamento no consumo já concretizado, em Portugal, nos últimos anos.

Xmas Survey 20148

Três em cada quatro portugueses tinham a expectativa de que o Orçamento do Estado do país impactaria directamente o seu perfil de compra

50% dos portugueses inquiridos, na semana anterior à apresentação do Orçamento do Estado para 2015, tinham a expectativa de que as alterações propostas no orçamento do próximo ano e as suas consequências fiscais teriam um impacto positivo no seu comportamento de compra. Em contrapartida, 26% tinham expectativas negativas, enquanto 14% permaneciam neutros a esse respeito. Os grupos etários acima dos 44 anos eram os que manifestavam expectativas de mudança mais positivas. Importa realçar que apenas 9% dos inquiridos não tinha opinião sobre o impacto do Orçamento do Estado no seu comportamento de compra.

O orçamento dos europeus para a época natalícia diminui em média 3% relativamente ao ano de 2013

Contrariamente a 2013, ano em que se registou uma ligeira expectativa de aumento dos gastos na quadra natalícia (0.7%), no presente ano, em 13 dos 17 países considerados na amostra verifica-se uma expectativa de diminuição dos gastos face ao ano anterior. Apenas a Suíça (2,1%), Alemanha (1.3%), Polónia (13,1%) e Rússia (3,9%) manifestam a expectativa de os aumentar.

Os países nos quais a variação em relação ao ano passado se apresenta mais negativa são: Grécia (-12,5%); Finlândia (-11,8%) e Portugal (-10,8%).

Neste ano, diversos países que nos últimos anos têm demonstrado uma evolução positiva apresentam agora expectativas negativas. A título de exemplo destacamos: França (-4.5%); Itália (-8.7%); Bélgica (-3.7%); Luxemburgo (-5.9%); Dinamarca (-4.3%) ou Holanda (-4.6%).

Os portugueses, num contexto de percepção de perda de poder de compra em 2014 mas de significativa melhoria de expectativas para 2015, demonstram um elevado nível de prudência na alocação do seu orçamento para a quadra natalícia

Em 2014, é previsto um gasto total de 270€ (-10,8%) por lar, repartido da seguinte forma: 126€ em presentes (-16%); 99€ em alimentação e bebidas (-5,5%) e 45€ em socialização (-5%).

Importa notar que, para efeitos deste relatório os consumidores foram questionados sobre as expectativas de gastos para a quadra natalícia em dois momentos. Numa primeira ocasião, na primeira quinzena de Outubro, ou seja, antes da apresentação do Orçamento do Estado e, em simultâneo, com a publicação das projecções de crescimento para a Europa por parte do FMI e, num segundo momento, na segunda semana de Novembro, tendo sido o resultado deste último questionário o que consta no presente relatório. A este respeito, cumpre realçar que do primeiro para o segundo momento, em média, as expectativas de gastos dos europeus melhoraram de (-7,85%) para (-3%) e, no caso de Portugal, de (-19,9%) para (-10,8%).

Editorial

Xmas Survey 2014 9

O receio da deterioração da economia é o principal motivo para os europeus diminuírem os seus gastos no Natal, já para os portugueses o principal motivo é o facto de terem diminuído o rendimento líquido de impostos

Para os portugueses, além da diminuição do rendimento líquido de impostos, o receio face ao futuro da economia é o segundo motivo para diminuir o orçamento de Natal. De registar que o motivo que mais aumenta para justificar a diminuição do orçamento de Natal é o actual nível de endividamento, que evolui de 13% de respostas, em 2013, para 24%, em 2014.

Já para os portugueses que manifestam a expectativa de aumentar o seu orçamento de Natal, as promoções, com 47%, de respostas surgem como o principal motivo destacado para aquele aumento. Na Europa, o principal motivo para aumentar os gastos no Natal, para 43% dos inquiridos, é o desejo de evitar pensar na crise e tirar partido da quadra natalícia.

Verifica-se, em média, na Europa uma diminuição da discrepância entre as intenções de compra e as expectativas de presentes

Ao contrário do ano 2013, em que se verificou um quase perfeito desalinhamento entre as intenções de compra e as expectativas de presentes em 16 dos 17 países considerados na amostra, neste ano, em 8 dos 17 países da amostra existe um alinhamento de expectativas. O principal motivo deste alinhamento é que um número significativo

de europeus passou a ter como principal expectativa de presente livros, ao invés de dinheiro, resultando num maior alinhamento com as intenções de compra.

O número de portugueses que indica o dinheiro como principal expectativa de presente diminuiu de 61% para 56%, mantendo, ainda assim, o primeiro lugar, acima dos 53% que tem como expectativa receber como presente, livros. No entanto, apenas 13% dos portugueses, tal como em 2013, tem a intenção de oferecer dinheiro no Natal.De realçar que existem diferenças significativas no top 10 de preferências, entre homens e mulheres. Enquanto os homens privilegiam a tecnologia (smartphones, laptops e tablets), as mulheres preferem produtos relacionados com a moda (calçado, cosméticos, acessórios e joalharia). Também é interessante realçar que o dinheiro perde relevância como expectativa de presente nos grupos etários mais elevados, onde os livros e viagens lideram as preferências.

O smart shopping é cada vez mais uma realidade estrutural na Europa e, em particular, em Portugal

Tal como em 2011, 2012 e 2013, os europeus e, em particular, os portugueses são cada vez mais profissionais na gestão do seu processo de compra, priorizando os seus orçamentos de acordo o nível promocional e a “utilidade” dos potenciais presentes. O factor preço mantém-se como a variável crítica no momento de decisão de compra dos consumidores, com 75% dos portugueses a afirmar que vão tomar em consideração o preço na decisão de compra comparativamente com os 70% de 2013. Sintoma do

Editorial

Xmas Survey 201410

Editorial

elevado nível de profissionalismo dos consumidores no processo de compra é o facto de 79% dos portugueses afirmar que não vão realizar compras por impulso, também superior aos já elevados 69% registados em 2013.

Além do foco no preço, promoções e planeamento, também assistimos a um maior investimento por parte dos consumidores nas fases do processo de compra além da transação, com mais de 50% dos portugueses a afirmar que utiliza mais o canal digital no processo de pesquisa e análise de alternativas. Digno de registo da alteração dos hábitos de compra é também o facto de 2 em cada 3 portugueses afirmar que recorre menos ao crédito ao consumo especializado ou disponibilizado pelos retalhistas.

A estratégia omnichannel é cada vez mais relevante no processo de compra dos consumidores

Na Europa as compras online têm aumentado consistentemente ano após ano e para 36% é já um hábito concretizar a transação online.Em Portugal, apenas 15% afirma concretizar as compras online. No entanto, já 2 em cada 3 portugueses declaram utilizar o canal online no processo de pesquisa. Já na fase de comparação de alternativas já são 59% os portugueses que afirma utilizar o canal online no seu processo de decisão. Além da crescente importância na fase da transacção, o canal digital está também a assumir um papel estratégico na geração de tráfego para as lojas. Na Europa, em média, já são mais de 7 em cada 10 os inquiridos que utilizam o canal online para a pesquisa e comparação de alternativas.

A quota de mercado do canal online também tem aumentado sustentadamente nos últimos anos, representando já 29% dos gastos dos europeus na compra de presentes para a quadra natalícia.O papel estratégico dos canais é cada vez mais interdependente, com apenas 31% dos portugueses e 24% dos europeus a afirmar que nunca utilizou a loja como showroom para posteriormente concretizar a compra no canal online. Ao invés, 22% dos inquiridos, em Portugal, e 25% na Europa afirma que o faz com frequência ou sempre. A elevada e crescente penetração do mobile (smartphones) tem influenciado de uma forma gradual a interdependência dos canais online e offline. A título de exemplo, em Portugal, 25% dos consumidores afirma já ter concretizado compras utilizando num smartphone e 64% espera faze-lo no futuro.

Xmas Survey 2014 11

Editorial

Os centros comerciais continuam a ser o canal privilegiado pelos portugueses para a concretização das compras dos presentes de Natal, embora os hipermercados, supermercados e retalho especializado tenham ganho terreno

Os centros comerciais, com 45% de penetração, os hipermercados/supermercados, com 22%, e o retalho especializado, com 21%, são os canais privilegiados para a compra de presentes de Natal. A importância dos canais está relacionada com as categorias em questão. Por exemplo, para as categorias de desporto e brinquedos, os retalhistas especializados são a primeira opção.

A nível alimentar, os hipermercados mantêm a liderança, com 80% de penetração, mas reduzindo face aos 83% registados em 2013. Os supermercados apresentam 71% de penetração (vs. 65% em 2013) e os hard discounts registam 48% (vs. 40% em 2013). Estes últimos aumentam, assim, o seu peso relativo enquanto opção para concretização das compras de Natal.

Para o futuro, as principais áreas de investimento sugeridas pelos consumidores aos retalhistas são a concorrência pelo preço, melhor integração entre os canais online e offline e o desenvolvimento de estratégias de customer relationship.

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Inside the consumer mindset

Xmas Survey 2014 13Xmas Survey 2014 13

What do you think of the current state of the economy?

Index between positive and negative answers

A downward trend

An upward trend

< -40%

-40% to 0%

> or = 0%

As in 2013, most Europeans still have a negative sentiment about the economy but in an upward trend.

There are three European scenarios:

• As in 2013, Germany and Denmark are positive about their economy. This year, the UK also shares this sentiment;

• Belgium, France, Italy, Ukraine, Finland and South Africa are more pessimistic than last year;

• The rest of the countries, including the most affected by the crisis such as Portugal, Spain and Greece, still have a negative sentiment, however, less pessimistic than last year.

Xmas Survey 201414 Xmas Survey 201414

What do you think of the current state of the economy?

Portuguese morale is still low, but continues to recover for the 3rd consecutive year.

• In 2014, 72% of Portuguese are negative about the economic situation versus 77% from last year, 83% in 2012 and 88% in 2011 (lowest level).

• The less pessimistic are the youngest (18-24 years) and men. 7%

7%14%

6% 5% 2% 9%

10%4%

19%

19%25% 20% 16% 19% 18%

22% 17%

72%

72%58%

72% 72%79% 77%

78%66%

2% 2% 1%

1%1%2% 3% 2% 2%

Average

Average

25-34

Women

45-5418-24

Men

35-44 55-64

Portugal - Age

Portugal - Gender

I don't knowPositive Negative

I don't knowPositive NegativeNeutral

Neutral

PositiveNegative

NeutralI don’t know

Portugal2% 7%

19%

72%


What do you think of the expected state of the economy?


< -40%

-40% to 0%

> or = 0%

For most Europeans, the future seems, globally, better than last year’s expected state of the economy.

• Still with negative expectations, the most affected countries by the economic and financial crisis (such as Portugal, Spain and Greece) are demonstrating an upward trend comparing to 2013.

• France and Italy still show a very negative index about expected state of economy (difference between positive and negative answers < -40%).

• German, Swiss and Luxembourg consumers who feel rather positive about the current state of their economies are much more pessimistic about the future.

• Only Denmark and the UK are positive about the current state and are positive about the future state of the economy.

A downward trend

An upward trend


What do you think about the current and expected state of the economy?

According to Europeans, the future seems, globally, better than last year’s expected state of the economy.

• France and Italy have the most negative index (last year those countries were alongside Spain, Greece, Portugal or Ukraine).

• Denmark and the UK are still the most optimistic about the future compared to last year.

• Last year, Germany was the only country being more pessimistic about it’s future than the current state of the economy. This year, Luxembourg and Switzerland are displaying the same trend as Germany.

• Portuguese expectations for the future improved significantly.

-35%

-23%

1%

-37%

-64%

-22%

-36%-30%

-66%

2%

-81%

-29%

-70% -70%

-4%

-16%

9%

-46%

-19%

-34%

16%

-31%

-52%

-7%

-25%

22%

-46%

-13%-12%-3%

-10% -11%

-36%-30%

-15% -16%

Euro

pe

Greece

Denmark

Russi

a

Franc

e

German

y

Polan

dSp

ain

Belgi

umUK

Switz

erlan

d

Finlan

d

Sout

h Afri

ca

Portu

gal

Luxe

mbour

gIta

ly

The N

etherl

ands

Ukraine

Europe

Expected stateCurrent state


What do you think about the current and expected state of the economy?

Expectations on current and future state of the economy are improving for the third consecutive year.

• After a low peak in 2011, Portuguese current and expected state of the economy are regularly rising since 2011, despite the fact that they are still with negative values;

• In Portugal there is a significant improvement from a 66% negative index of current state of economy compared to minus 25% about future 2015 expectations.

-91%

-45%

-70%

-84% -78% -71%-66%

-48%

-67% -65%

-46%-25%

25%

Portugal

2008 2010 20122009 2011 2013 2014-100%

-80%

-40%

20%

-60%

0%

-20%

40%

Expected stateCurrent state

-55%


What do you think of the expected state of the economy?

Portuguese negative expectations are decreasing in a consistent way.

• 45% of portuguese believe next year’s situation will be negative, significantly lower than the 59% in 2013 and 73% in 2012.

• Youngest and men are the less pessimistic about the future state of the economy. 20%

20%27%

17% 17%19% 21%

25%15%

22%

22% 26% 27%16% 21% 21%

23% 21%

45%

45% 45% 48%36%

51%43%

47%43%

13%

13%

17%

15%14%14%11%11%

9%

Average

Average

25-34

Women

45-5418-24

Men

35-44 55-64

Portugal - Age

Portugal - Gender

I don't knowPositive Negative

I don't knowPositive NegativeNeutral

Neutral

PositiveNegative

NeutralI don’t know

Portugal

13%20%

22%

45%



< -40%

-40% to 0%

> or = 0%

Except for the UK, all the countries have a negative perception about this year spending power evolution.

• Only 3 countries are less pessimistic than last year: The Netherlands, Switzerland and Greece.

• Even if the decrease of the index is lower than last year, the downward trend is still going on (13 countries with downward trends in 2014 vs 10 in 2013).

• Greece, Italy, Portugal and Ukraine are the countries with an index below -40%.

How would you describe your spending power today compared to last year?

A downward trend

An upward trend



Trend of European perception of spending power decrease continues.

• The entire continent (unless UK) is perceiving a reduction of its spending power.

• Last year the only two countries being optimistic about their spending power evolution were Ukraine and Russia. This year Ukraine is the second most pessimistic, only after Greece, and Russia is the third less pessimistic, reflecting the impact in consumer mindset of the recent political events.

Euro

pe

Greece

Denmark

Russi

a

Franc

e

German

y

Polan

dSp

ain

Belgi

umUK

Switz

erlan

d

Finlan

d

Sout

h Afri

ca

Portu

gal

Luxe

mbour

gIta

ly

The N

etherl

ands

Ukraine

Index based on the sum of positive and negative answers

2010 20122011 2013 2014

-29-16

-58

-21-27

-13

-31-25-26

-11-18

-60-54

-37-49

-32

1

-30


Following European average, in Portugal, there is the perception of spending power decrease in 2014.

• 59% of Portuguese respondents claim to have lost spending power in 2014, compared to 57% in 2013, however significantly lower than 68% in 2012.

• However, women and youngest population slightly improved their perception of spending power evolution compared to year 2013.


23%17%

4% 4% 4%

36% 30% 30% 30% 32%

10%

10%

31%

31%

59%

59%

41%53%

64%67% 67%

8%

30%

62%

11%

32%

56%

Average

Average

25-34

Women

45-5418-24

Men

35-44 55-64

Portugal - Age

Portugal - Gender

You have more to spendYou have the same amount to spendYou have less to spend

You have more to spendYou have the same amount to spendYou have less to spend

You have more to spend You have the same amount to spend You have less to spend

Portugal

31%

10%

59%



< -40%

-40% to 0%

> or = 0%

European expectations about spending power in the future are divided.

• UK, Denmark, Poland, Russia and South Africa have positive index expectations regarding spending power evolution.

• The South European countries that were most affected by the financial crisis (Portugal, Spain, Greece and also Italy) are clearly more optimistic about the future, although still with negative index values.

• Luxembourg, Belgium and France are the countries more pessimistic about future than they are about the present. In case of France, the index is negative 40% (the lowest value of all).

How do you think your spending power will develop in 2015?

A downward trend

An upward trend


How do you think your spending power will develop next year?

France, Luxembourg, Belgium and Ukraine are the countries that have lowered significantly their expectations about the future. Russia and South Africa, also lowered their expectations, however still with a positive value.

• Since 2012, Portuguese have improved their expectations about next year’s spending power.

• This year, Portugal entered the european top 5 of most optimistic countries.

Euro

pe

Greece

Denmark

Russi

a

Franc

e

German

y

Polan

dSp

ain

Belgi

umUK

Switz

erlan

d

Finlan

d

Sout

h Afri

ca

Portu

gal

Luxe

mbour

gIta

ly

The N

etherl

ands

Ukraine


2010 20122011 2013 2014

-11

14

-40

-3 -8

-35

-16-9 -5

-38 -38

-13

12

-8

7

-23

5

26



Expectations about 2015 spending power evolution are more positive in most countries.

• All countries, with the exception of France, Luxembourg and Belgium, are more confident in the future regarding their spending power evolution in 2015, compared to 2014 evolution vs. 2013.

• Portuguese expectations show a tremendous evolution from a 49% negative index, when comparing 2014 vs. 2013, to an almost positive index (-3%), when comparing expectations of 2015 spending power evolution vs. 2014.

-30% -26%

1%

-25%-32% -31%

-37%-27%

-49%

-13%

-54%

-21%

-60% -58%

-18% -16%-11%

-29%

-11%

-38%

14%

-38%-40%

-13%

-3%

12%

-35%

7%

-9%

5%

-5%

26%

-16%-23%

-8% -8%

Euro

pe

Greece

Denmark

Russi

a

Franc

e

German

y

Polan

dSp

ain

Belgi

umUK

Switz

erlan

d

Finlan

d

Sout

h Afri

ca

Portu

gal

Luxe

mbour

gIta

ly

The N

etherl

ands

Ukraine

Spending power 2015Spending power 2014




Current and expected spending power are not always converging.

• The gap between the current and the expected spending power is increasing since 2011. Portuguese are increasingly less pessimistic about the future. However, less negative expectations about the future are taking longer to materialize than they expected.

-72%

-36% -31%

-52% -60%-46%

-49%

Portugal

2008 2010 20122009 2011 2013 2014-100%

-80%

-40%

20%

-60%

0%

-20%

40%

Current spending power Expected spending power

15%

-33%

13%

-42% -44%

-14%-3%


In Portugal the percentage of respondents who are negative about the spending power evolution and those who are positive are almost equalizing.

• Among Portuguese respondents, 25% say they will have lower spending power in 2015, almost offset by the 22% of respondents saying they will improve their spending power.

• There is a significant decrease of those expecting to lower their level of spending power next year, 25% in 2014 vs 35% in 2013 and 55% in 2012.

• The age group of 45-54 years old has the most negative expectations, and the most positive is the age group of 25-34.


Portugal

34%

22%

25%

19%

22%

22%26% 29%

17%20% 21%

23% 22%34%

34% 33% 31% 35% 32% 38%

35% 33%25%

25% 22%30%

20%26% 28%

24%26%19%

19%

21%

13%21%19%18%21%

16%

Average

Average

25-34

Women

45-5418-24

Men

35-44 55-64

Portugal - Age

Portugal - Gender

I don't know

I don't know

Improve

Improve

Deteriorate

Deteriorate

Stay the same

Stay the same

ImproveDeteriorate

Stay the sameI don’t know


Thinking about what you spend your money on now versus a year ago, are you spending less, the same or more on the following:Tax is by far the most absorbing product category for European budgets.

• The feeling of tax pressure has never been as high as this year, with 38% of Europeans claiming they have spend more money on taxes than last year.

• It’s the first time that so many people perceive they have spend more in health than the previous year and the first time this category is in third position of the most quoted propositions, for example surpassing housing and day-to-day spending when comparing to the year 2013.

• In Portugal, compared with last year, more people are claiming they have spent more in all product categories. By far the biggest increase was on the tax budget. Taxes

Taxes

Housing

Education

Education

Housing

Clothing/footwear

Clothing/footwear

Health

Health

Digital/ electronic spending


Financial services

Financial services

Irregular spending

Irregular spending

Essentials such as groceries and energy bills


Day to day spending

Day to day spending

Holidays

Entertainment/leisure

Entertainment/leisure

Holidays

Europe

Portugal 44%

38% 8%

38% 40%

38% 39%

45% 9%

55% 13%

55%

50% 15%

50% 25%

58% 11%

43% 29%

43%

41% 19%

19%

37% 37%

37%

38%

53%

48%

35%

31%

45%

62%

25%

47%

33%

30%

27% 57%

56%

54%

32%

58%

18% 6%

9%

6%

35%

42%

18%

19%

15%

9% 9%

17%

31%

31%

30%

29% 6%

30%

27%

26%

26%

19%

22%

14%

21% 19%

13%

21% 6%

13%

19% 7%

12%

18%

11%

18%

10%

17% 7%

I don't knowMore LessAbout the same

3%

3%

3%

1%

2%

2%

2%

3%

4%

4%

1%

1%

1%


In the future, if needed, which of the following areas would you be prepared to cut back spending on?

Spending priorities are adapted to economic context.

• The main categories in which Europeans are willing to spend less are irregular spending, entertainment, clothing/footwear and holidays. In Portugal, this trend remains the same, although, on average, the willingness to cut back spending is much higher.

• Europeans are, in general, not prepared to cut back on health, housing, groceries, and education. Portugal follows the same trend however with a higher % of people claiming they are not prepared to cut back more.

Irregular spending Irregular spending

Clothing/footwear Holidays

Financial services Taxes



Holidays Clothing/footwear

Day to day spending Day to day spending

Education Education

Health Health

Entertainment/leisure Entertainment/leisure



Taxes Financial services

Housing Housing

Portugal Europe

Not prepared to cut back on Prepared to cut back on Not prepared to cut back on Prepared to cut back on

-4% -15%

-5% -21%

-9% -26%

-10% -28%

-16% -29%

-18% -32%

-32% -42%

-61% -46%

-61% -56%

-65% -61%

-70% -62%

-72% -69%

96% 85%

95% 79%

91% 74%

90% 72%

84% 71%

82% 68%

68% 58%

39% 54%

39% 44%

35% 39%

30% 38%

28% 31%


To what extent do the changes in the upcoming Budget Law and the fiscal consequences of this bill will influence your shopping behavior?Half of the Portuguese consumers claim that the changes in the upcoming national Budget Law and its fiscal consequences would affect positively their shopping behavior, whereas 26% claim it would affect negatively.

• 91% of Portuguese have an opinion about how the national Budget Law will impact their future shopping behaviour.

• The older groups (45-64 years old) were more optimistic about potential impacts of the national Budget Law in their shopping behavior.

Average WomenMen

Portugal - Gender

50% 48% 53%

14% 14% 15%26% 27% 25%

9% 11% 8%

50%43%

55%46%

58%48%

14% 14% 12%17%10%

18%26%

33%21%

31%24%23%

11%9% 10% 11%6% 8%

Average 25-34 45-5418-24 34-44 55-64

Portugal - Age

Portugal

14%

50%

9%

26%

Positively NegativelyNeutrally I don´t Know

50% 51% 51%43%

14% 14% 14% 17%26% 24% 29% 33%

7%9% 10% 6%

Average Average incomeBelow averageincome

Above averageincome

Portugal - Income level

• The lower and average income classes had the most positive expectations about the Budget Law and its fiscal consequences influencing their future shopping behaviour.

The answers to this question were based on consumers perception before Budget Law release. The research fieldwork

was conducted from 8th -15th October and national budget law was released on the 15th October

Xmas Survey 201430

2014 Christmas budget


How much did your household approximately spend on the subjects below for the year-end festivities in 2013 and what do you expect to spend in 2014?A downward budget trend - Europeans are changing Christmas shopping habits:

• Last year, 11 countries had a rising gifts budget. This year they are only 4 (Poland, Russia, Switzerland and Germany)

• In 2013, only one country had a decrease budget over -5% (Greece). In 2014, they are 5.

0% to -5%

Denmark (558) -1,08%

UK (764) -1,32%

Ukraine (169) -3,24%

Belgium (488) -3,66%

France (518) -4,49%

The Netherlands (266) -4,65%

-5% to -10%

Luxembourg (715) -5,92%

Italy (400) -8,75%

0%

Poland (277) 12,35%

Russia (308) 4,37%

Switzerland (648) 2,01%

Germany (458) 1,32%

-10% to…

Portugal (270) -10,85%

Finland (562) -11,81%

Greece (406) -12,52%


How much did your household approximately spend on the subjects below for the year-end festivities in 2013 and what do you expect to spend in 2014? • The average budget is decreasing compared to last

year for most European countries except Poland, Russia, Switzerland and Germany. The countries which have the most relavant budget cutting are Greece, Finland and Portugal (<-10% vs 2013).

• Socializing has the smallest share of Christmas budget but suffers the most important reduction compared to the other categories of spending: European consumers prioritize gifts and food rather than socializing in terms of Christmas spending. If this is the case for most European countries, Portugal is an exception, where socializing budget reduced less compared to other categories spending.

• The main reason for the reduction of Christmas budget is the economic crisis: most European consumers are experiencing a lower perceived spending power, and a majority of them are either more pessimistic or less optimistic about their future. The only positive countries about their current state of the economy are Germany, UK and Denmark.

2014

Giftsamount

Food & Drinks amount

Socialising amount Total Gifts

% vs 2013Food & Drinks

% vs 2013Socialising % vs 2013

Total% vs 2013

UK 422 222 120 764 0,7% 1,8% -8,7% -1,3%

France 303 168 48 518 -2,7% -3,3% -17,7% -4,5%

Portugal 126 99 45 270 -16,4% -5,5% -5,0% -10,8%

Italy 213 134 53 400 -8,1% -9,2% -10,1% -8,7%

Greece 162 163 81 406 -7,5% -12,5% -21,1% -12,5%

Switzerland 358 199 91 647 6,5% -0,1% 2,7% 2,1%

Germany 279 128 51 458 2,6% 0,7% -3,9% 1,3%

Luxembourg 400 256 60 715 -4,3% -5,6% -16,4% -5,9%

Belgium 258 173 56 488 2,3% -5,6% -20,1% -3,7%

The Netherlands 119 109 38 266 4,0% -2,8% -27,5% -4,6%

Denmark 346 160 52 558 -4,6% -3,2% -3,5% -4,3%

Finland 283 221 57 562 -11,8% -8,8% -22,0% -11,8%

Poland 138 113 26 277 28,6% 0,3% -24,7% 13,1%

Europe 265 160 62 488 -0,8% -1,9% -13,3% -3,0%

Ukraine 73 74 22 169 4,6% -1,3% -25,6% -4,5%

Russia 131 136 40 308 3,4% -0,5% -10,4% 3,9%

South Africa 150 120 71 340 -3,1% -0,2% -15,6% -8,1%

Data from Spain not available.


In Portugal, the budget category spending mix did not changed significantly.

• The ranking for category spending has been the same for the last 3 years, however in 2014 gifts lost weight to food and socializing.

• 45% of the budget is allocated to children, with an increase of 8% compared to 2013, where they accounted for 37% of the total budget.

• In Portugal, children´s christmas budget will not suffer in 2014.

In your household, what will be the total holiday budget for gifts for the following people for year end festivities in 2014?

50% 47%35% 37%

49%36%

15% 16% 17%

2012 20142013

Portugal

Gifts Food Socializing

YourselfYour children

Other adultsCharity donations

Your partnerOther children

Portugal

18%

11%3%

25%

20%25%

-1,01%

-7,85%

-0,67%

2,55%

4,82%

-2,95%

-9,96%

4,76%2,94%

6,34%

9,28%

5,89%7,98%

-1,98% -1,84%

3,89%

-10,63%

-13,40%

Euro

pe

Greece

Denmark

Russi

a

Franc

e

German

y

Polan

dSp

ain

Belgi

umUK

Switz

erlan

d

Finlan

d

Sout

h Afri

ca

Portu

gal

Luxe

mbour

gIta

ly

The N

etherl

ands

Ukraine

Children Variation 2013/2014


How are you going to allocate your Christmas gifts spending?

Both the number of gifts as well as their value will be reduced.

• In Portugal, children in the consumers’ family are privileged in terms of budget allocation.

Yourself

€ 13,240,79 gifts at € 16,82

2014 Budgetvariation

Number of gifts variation

€ 22,251,12 gifts at € 19,81

€ 24,602,56 gifts at € 9,62

€ 31,664,48 gifts at € 7,07

€ 31,061,60 gifts at € 19,37

€ 0,28 (2,14%)

€ 0,75 (3,50%)

€ -0,63 (-2,49%)

€ -1,56 (-4,69%)

€ 2,01 (6,92%)

0,87%

-6,04%

-6,10%

-4,19%

-1,69%

Yourspouse

Otherkids

Yourchildren

Otheradults

€Portugal


What are the reasons driving your decision to spend less during year-end festivities?

61% 47%

51% 40%

13% 17%

14% 19%

24% 15%

8% 13%

63% 46%

45% 37%

24% 20%

18% 19%

18% 17%

10% 13%

65% 50%

65% 48%

9% 15%

7% 16%

19% 15%

5% 10%

Portugal Europe

The economic downturn continues and I believe it will get worse

The economic downturn continues and I believe it will get worse

My revenues after taxhave decreased

My revenues after taxhave decreased

Other reason

Other reason

I have to save money becauseI lost my job

I have to save money becauseI lost my job

I’d rather save money because I’m afraid of losing my job

I’d rather save money because I’m afraid of losing my job

I am in debt

I am in debt

2012 2013 2014 2012 2013 2014

European consumers are still very sensitive to the state of the economy and the fear of economic downturn continues to slow down spending.

• 46% of Europeans are considering that the economy will get worse, which constitutes the major factor for spending less. 37% mention that their revenues have declined, 3% less than last year (40%).

• The European pattern is quite similar when comparing the last three years, even if the weight of the most common reasons to spend less decreased.

• In Portugal decreasing revenues after tax are the main reason for reducing Christmas spending, and the fear of future economic downturn reduced significantly:

• As in 2013, for 63% of Portuguese respondents the first reason to spend less is the revenue after taxes decrease (61% in 2013);

• ”I am in debt“ increased significantly its importance, from 13% to 24%.


Women and the age group of 45-54 have the highest score for “my revenues after tax have decreased”.

What are the reasons driving your decision to spend less during year-end festivities?

63%

63%

45% 51%

66%78%

66%

60%66%

45%

45%38%

48% 52%

33%

50%

43% 46%

24%

24%

8%15%

32%27% 31%

27%21%18% 18% 19%

18%24%18%13% 12%

21%

Average

Average

25-34

Women

45-5418-24

Men

35-44 55-64

Portugal - Age

Portugal - Gender

My revenues after tax have decreasedI am in debt

The economic downturn continues and I believe it will get worseI have to save money because I lost my job


As it was last year, despite the gloom (economy/spending power), European consumers still want to enjoy their Christmas, avoid thinking about the economic situation.

• In Portugal, promotions are increasingly the main driver to spend more for 47% of respondents (43% in 2013). Wanting to enjoy themselves and forget about the crisis decreased by 7% compared to last year.

• There are still 28% of Portuguese claiming they are spending more because their after tax revenues have increased (vs. 29% in 2013).

What are the reasons driving your decision to spend more during year-end festivities?

43% 45%

13% 18%

40% 35%

3% 7%

29% 27%

1% 7%

15% 15%

22% 18%

16% 14%

47% 43%

14% 14%

33% 38%

3% 7%

28% 28%

1% 7%

20% 17%

18% 16%

17% 14%

33% 43%

10% 21%

33% 27%

5% 7%

24% 33%

4% 6%

18% 12%

12% 20%

16% 10%

Portugal Europe

I want to enjoy, and avoid thinking about the bad

economic situation too muchPromotions

The credit terms offered by the retailers are good

Consumer reviews and ratings will convince me to

spend more money

PromotionsI want to enjoy, and avoid

thinking about the bad economic situation too much

The economic situation is more secure Other reason

There are many innovations that make me spend more

Services and recomendations from retailers may convince

me to spend more money

Other reason The economic situation is more secure

Services and recomendations from retailers may convince

me to spend more money

There are many innovations that make me spend more

money

My revenues after taxhave increased

My revenues after taxhave increased

Consumer reviews and ratings will convince me to

spend more money

The credit terms offered by the retailers are good

2012 2013 2014


When comparing age and gender groups, clearly promotions are most relevant for women and youngest (18-24 years old) age groups.

What are the reasons driving your decision to spend more during year-end festivities?

47%

47%55%

47%

30%

48% 51%

42%51%

33%

33%47%

32%39%

28% 24%

43%

25%28%

28% 29% 28% 29%39%

17%

24%32%

20% 19% 22%

18%24%20%8%

26% 25%

Average

Average

25-34

Women

45-5418-24

Men

35-44 55-64

Portugal - Age

Portugal - Gender

PromotionsMy revenues after tax have increased

I want to enjoy, and avoid thinking about the bad economic situation too muchOther reason

Xmas Survey 2014 39

Most desired and most popular holiday gifts


What types of presents would you most like to receive?

First choice 2014 2013 2012 2011

United Kingdom Books - - -

France Books Money (cash) Money (cash) Money (cash)

Portugal Money (cash) Money (cash) Money (cash) Books

Spain Books Money (cash) Money (cash) Books

Italy Books Money (cash) Money (cash) Books

Greece Travel Money (cash) Money (cash) Books

Switzerland Money (cash) Money (cash) Money (cash) Books

Germany Books Money (cash) Money (cash) Books

Luxembourg Books Books Money (cash) Books

Belgium Money (cash) Money (cash) Money (cash) Money (cash)

The Netherlands Money (cash) Money (cash) Books Books

Denmark Books Money (cash) Money (cash) Books

Finland Money (cash) Money (cash) Money (cash) Books

Poland Books Money (cash) Books Books

Ukraine Money (cash) Money (cash) Money (cash) Money (cash)

Russia Money (cash) Money (cash) Money (cash) Money (cash)

South Africa Money (cash) Chocolates Money (cash) Money (cash)

Top 10 Portugal 2014 2013 2012 2011

Money (cash) 1st 56% 1st 61% 1st 58% 2nd 57%

Books 2nd 53% 2nd 51% 2nd 51% 1st 57%

Clothes/shoes 3rd 51% 3rd 50% 3rd 44% 4th 46%

Travel 4th 50% 4th 45% 4th 43% 3rd 47%

Smartphone 5th 39% 6th 38% 9th 33% - -

Laptop/PC Computer 6th 38% 9th 34% 7th 36% - -

Tablets 7th 35% 5th 40% 5th 37% - -

Cosmetics/Perfumes 8th 34% 7th 38% 8th 33% 5th 39%

Jewellery/watch 9th 30% 8th 36% 6th 37% 6th 33%

Beauty care, massage, spa treatment 10th 30% - 28% - 28% - -

In 2014, cash lost importance in terms of mostly desired gifts in Europe.

• In 2014, books occupy the 1st place for the same number of countries (8) as cash, while in 2013, only 2 out of 18 countries (Luxembourg and South Africa) did not place cash as the first choice.

• Gradually the pattern of most desired gifts is returning to the year 2011 profile.

• In Portugal:

• Cash is still the most desired gift, but the difference has shortened compared to books, clothes and travel;

• Since 2012, the ranking of top three most desired gifts is the same.



Top 10 Portugal - Women 2014 2013

Clothes/shoes 64% 64%

Books 62% 59%

Money (cash) 59% 70%

Travel 58% 50%

Cosmetics/Perfumes 49% 55%

Beauty care, massage, spa treatment 47% 44%

Accessories (Bags) 42% 44%

Jewellery/watch 41% 48%

Tickets for theatre/concert/cinema/sports match 36% 34%

Smartphone 34% 33%

Top 10 Portugal - Men 2014 2013


Smartphone 45% 44%

Books 44% 44%

Laptop/PC Computer 44% 39%

Travel 42% 41%

Tablets 38% 44%


Food & Drink 29% 21%


Sport and leisure equipment 22% 16%

Money, books and travel are amongst the top five desired categories for both men and women.

• However, for men, cash is the most preferred gift whilst women prefer clothes/shoes.

• Men are also more attracted by technology: Smartphones (2nd), Laptops (4th), Tablets (6th). Whereas Women are more interested in fashion/beauty gifts: Clothes/ shoes (1st), Cosmetics/perfumes (5th), Beauty care (6th), Acessories (7th) and Jewellery (8th).



Money, clothes/shoes, laptop/PC computers and travel are between the top five most desired gifts for the youngest generations (18 to 24 and 25 to 34 years old).

• Although money continues to be the most preferred gift for Portuguese youngest generation (18 to 24 years old), it has lowered its value from 71% in 2013 to 65% in 2014.

Top 10 Portugal - Age 25-34 2014 2013



Books 50% 54%

Travel 45% 53%


Tablets 38% 40%

Smartphone 37% 44%




Top 10 Portugal - Age 18-24 2014 2013




Smartphone 53% 55%

Travel 52% 53%

Books 48% 44%

Tablets 43% 54%



Accessories (Bags) 39% 33%



Top 10 Portugal - Age 45-54 2014 2013

Travel 55% 40%


Books 51% 44%



Smartphone 33% 26%




Food & Drink 28% 23%

Top 10 Portugal - Age 35-44 2014 2013

Books 60% 55%



Travel 48% 40%

Smartphone 43% 37%

Tablets 40% 41%





Books, money, clothes/shoes and travel are the most preferred gifts in the adult generations (35 to 44 and 45 to 54 years old).

• When compared to 2013, in both group ages, money lost the 1st place in ranking of most desired gift.



For the most senior generation (55-64 years old), the most desired gift categories are books, travel and clothes/shoes.

• Money decreased its importance from 67% to 43% as the most desired gift, moving from 1st place in the ranking to 4th place.

Top 10 Portugal - Age 55-64 2014 2013

Books 56% 58%

Travel 51% 42%




Smartphone 31% 30%

Tablets 31% 35%



CD 28% 32%


Books are the most preferred gift to offer in 14 out of 17 countries.

• Books are set as the successful gift for 2014 Xmas. It occupies the 1st rank in both desired and offered gifts, in most surveyed countries.

• In Portugal, the most preferred gifts to offer are books (51% of respondents). Clothes/shoes, chocolates and cosmetics/perfumes are also popular gifts.

• There is no convergence between offered and desired gifts. Even if money has gained one place compared to 2013, it is only at the 9th rank of intended gifts to offer whereas it is the most desired gift.

Which of the following types of presents do you think you will buy for your friends and family this year (apart from children and teenagers)?

First choice 2014 2013

United Kingdom Books -

France Books Books

Portugal Books Books

Spain Books Clothes/shoes

Italy Books Books

Greece Books Books

Switzerland Books Books

Germany Books Books

Luxembourg Books Books

Belgium Books Gift vouchers

The Netherlands Books Books

Denmark Books Books

Finland Books Books

Poland Books Cosmetics/perfumes

Ukraine Chocolates Chocolates

Russia Cosmetics/Perfumes Cosmetics/perfumes

South Africa Chocolates Chocolates

Top 10 Portugal 2014 2013

Books 1st 51% 1st 50%

Clothes/shoes 2nd 42% 2nd 44%

Chocolates 3rd 31% 3rd 33%

Cosmetics/Perfumes 4th 29% 4th 31%

CD 5th 18% 6th 18%

Accessories (Bags) 6th 17% 5th 21%

Beauty care, massage, spa treatment 7th 15% 8th 16%

Food & Drink 8th 14% 9th 15%

Money (cash) 9th 13% 10th 13%

Jewellery/watch 10th 13% 7th 17%


Which of the following types of presents do you think you will buy for a teen between the ages of 12 and 18?The top 3 most offered gifts for teenagers in Europe has remained the same as in 2013. Books, games and money are still the 3 most offered gifts to teenagers.


United Kingdom Games -

France Games Games


Spain Games Games

Italy Books Books

Greece Books Books

Switzerland Books Money (cash)

Germany Books Books

Luxembourg Books Games

Belgium Money (cash) Money (cash)


Denmark Games Games

Finland Gift cards Gift cards

Poland Books Books

Ukraine Chocolates Chocolates

Russia Chocolates Chocolates

South Africa Games Games



Clothes/shoes 2nd 22% 2nd 25%

Games 3rd 20% 3rd 23%

CD 4th 14% 4th 15%

Money (cash) 5th 11% 5th 12%

Chocolates 6th 10% 8th 9%

Cosmetics / Perfumes 7th 10% - 7%

Games (toys) 8th 9% 6th 12%

Tablets 9th 8% 10th 8%

Model construction toys 10th 6% - 6%


For children the 1st chosen gift remains games, even if there are a lot of disparities within European countries first choice.

• Many European countries have toys as first choice, but educative games are gaining ranks for example in France, Spain, Belgium or Poland where model construction toys and learning and experimenting books are the first choices.

• In Portugal, like for all other age groups, books come as the first choice of gift to offer to children.

Which of the following types of presents do you think you will buy for anyone under the age of 12?


United Kingdom Books -

France Model construction toys Model construction toys


Spain Model construction toys Learning and experimenting

Italy Baby and infant articles Baby and infant articles

Greece Games (toys) Clothes/shoes

Switzerland Books Books

Germany Games (toys) Games (toys)


Belgium Model construction toys Games (toys)

The Netherlands Games (toys) Games (toys)

Denmark Games (toys) Games (toys)

Finland Games (toys) Games (toys)

Poland Learning and experimenting Learning and experimenting

Ukraine Books Books

Russia Learning and experimenting Model construction toys

South Africa Games (toys) Games (toys)



Model construction toys 2nd 30% 2nd 29%

Clothes/shoes 3rd 29% 3rd 28%

Games 4th 27% 4th 26%

Learning and experimenting 5th 22% 5th 20%

Baby and infant articles 6th 18% 6th 18%

Dolls & plush 7th 17% 7th 17%

Technical toys 8th 13% 8th 15%

Action toys 9th 12% 9th 12%

Sportswear 10th 11% 10th 11%


Top gift purchased and wished for 2014, 2013 and 2007

In 2007, before the beginning of the financial crisis, there was a high level of match between most desired and preferred gifts.

• In 2013 there was almost a perfect mismatch between desired and preferred gifts, with most Europeans wishing for money but preferring to offer books.

• This year, we see a lower level of mismatch between desired gift and intentions to buy, with books raising its importance.

First choice2007

1st wish 1st buy

United Kingdom - -

France Cash Books

Portugal Clothes Books

Spain Clothes Clothes

Italy Books Books

Greece Clothes Books

Switzerland Books Gift vouchers

Germany Cash Books

Luxembourg N.A. N.A.

Belgium Gift vouchers Gift vouchers


Denmark N.A. N.A.

Finland N.A. N.A.

Poland N.A. N.A.

Ukraine N.A. N.A.

Russia Cash Cosmetics

South Africa Clothes Music

First choice2013

1st wish 1st buy

United Kingdom - -

France Money Books

Portugal Money Books

Spain Money Clothes/shoes

Italy Money Books

Greece Money Books

Switzerland Money Books

Germany Money Books

Luxembourg Money Books

Belgium Money Gift vouchers

The Netherlands Money Books

Denmark Money Books

Finland Money Books

Poland Money Cosmetics/Perfumes

Ukraine Money Chocolates

Russia Money Cosmetics/Perfumes

South Africa Chocolates Chocolates

First choice2014

1st wish 1st buy

United Kingdom Books Books

France Books Books

Portugal Money (cash) Books

Spain Books Books

Italy Books Books

Greece Travel Books

Switzerland Money (cash) Books

Germany Books Books


Belgium Money (cash) Books

The Netherlands Money (cash) Books

Denmark Books Books

Finland Money (cash) Books

Poland Books Books

Ukraine Money (cash) Chocolates

Russia Money (cash) Cosmetics/Perfumes

South Africa Money (cash) Games


In case you have different options to buy gifts for children, which criteria do you favour?

For Europeans, the best gifts for children are still those that are educational in nature.

• 52% of Europeans favor educational gifts for children, versus 58% in 2013.

• As last year, Portuguese keep preferring educational toys in comparison to Europeans (75% vs 52%).

52%

Europe

75%

4%

8%

9%

5%

Portugal

Educative

Green

Traditional

Innovative

Trendy

Euro

pe

Greece

Denmark

Russi

a

Franc

e

German

y

Polan

dSp

ain

Belgi

umUK

Switz

erlan

d

Finlan

d

Sout

h Afri

ca

Portu

gal

Luxe

mbour

gIta

ly

The N

etherl

ands

Ukraine

36%

70%54%49%

64%54%

37%56%

26%45% 47%

75% 65%

39%49%

58%58%

15%26%

6%18%

16%

13%22%

27%21%

13%18% 20%

4%

12%

11%

13%10%12%

8%5%

6% 6%6%

4%7%

11% 9%7% 15% 10%

8%

18%

4%12% 4%

15%14%20%

10% 13%13%

12%15%

19% 9%

18% 10% 9%9%

25%10%

7% 19%12%11% 14% 8% 8%16%

6%2%17% 25%

5% 12% 15%5% 7% 9% 21% 9%

3%

Educative Traditional Green Innovative Trendy

Xmas Survey 201450

Purchasing strategies


9% 35% 2%26% 25% 2%Before Nov 1-15 Dec 25-31 DecNov 16-24 Dec Jan and after

When do you expect to purchase the majority of your gifts for this year versus last year?

60% of Portuguese do their Christmas shopping between December 1st and 24th.

• UK, Germany and The Netherlands are the countries in which Christmas shopping is more antecipated.

• Russians, Ukrainians and Greeks buy their gifts essentially after December 15th. Winter sales in Russia and Ukraine start in the middle of December and people usually offer gifts on December 31st.

Greece

Poland

Belgium

Switzerland

Ukraine

Luxembourg

France

Germany

Russia

Spain

Europe

South Africa

Finland

Italy

The Netherlands

UK

Denmark

Portugal

Before December Between 1 and 15 December After 15 December

Portugal


When buying gifts for Christmas, to what extent do the following factors influence your buying decision?

Europeans are still sensitive to sustainability issues, especially child labor.

• 8 out of 10 Portuguese (compared to 67% in Europe) claim they do not buy products involving child labour.

• For the Portuguese, besides child labor, one of the top factors for influencing buying decision is the information provided in the packaging with 75% of respondents.

• Still, 4 out of 10 respondents, in Portugal and Europe, claim sustainable products are more expensive and as such will not favor buying these products.

80%

75%

63%

67%

57%

63%

56%

63%

43%

Portugal

I do not buy products involving child labour

I will mainly buy products made either in my region or in my country (in particular to sustain the national economy)

I avoid buying products that do not respect ecological sustainability

I am careful about the information provided on the packaging(e.g. origin, Fair-trade, expiration dates and nutritional facts...)

I do not buy products manufactured with bad working conditions in developping countries

I avoid buying products with a substantial carbon impact on the planet

I avoid buying products that do not respect social sustainability

I avoid buying products that do not respect economic sustainability

I avoid buying sustainable products because they are too expensive

67%

65%

50%

55%

49%

55%

50%

53%

43%

Europe

I do not buy products involving child labour

I will mainly buy products made either in my region or in my country (in particular to sustain the national economy)

I avoid buying products that do not respect ecological sustainability

I am careful about the information provided on the packaging(e.g. origin, Fair-trade, expiration dates and nutritional facts...)

I do not buy products manufactured with bad working conditions in developping countries

I avoid buying products with a substantial carbon impact on the planet

I avoid buying products that do not respect social sustainability

I avoid buying products that do not respect economic sustainability

I avoid buying sustainable products because they are too expensive


Regarding your year-end festivities shopping (both gifts and food), how will you change your purchasing behaviour compared to last year?Europeans are increasingly becoming smart shoppers.

• As in 2011, 2012 and 2013, Europeans as well the Portuguese will prioritize their budget on products that are on sale and that are useful.

• In Portugal, price continues to be one of the main drivers for gifting decision with 75% of consumers saying that they will take price into consideration when doing their shopping, whereas in Europe it will be relevant for 46% of respondents.

• Also 79% of Portuguese claim they will not buy products on impulse, compared to 48% in Europe.

I will buy products and gifts that are on sale I will buy products and gifts that are on sale

I will manage my Xmas spending by preparing a budget I will manage my Xmas spending by preparing a budget

I will buy second-hand products as gifts I will buy second-hand products as gifts

I will focus on useful gifts I will focus on useful gifts

I intend to give group gifts I will buy discount and retailers’ private label products

I will buy gifts without taking into account the price I will buy on impulse

I will shop at less expensive stores I will shop at less expensive stores

I will buy for fewer people I will buy for fewer people

I will buy on impulse I will offer gifts without taking into account the price

I will buy discount and retailers’ private label products I will buy less expensive gifts

I will buy less expensive gifts I intend to give group gifts

21% 16%

0% 0%

-28% -7%

-50% -36%

15% 16%

-25% -4%

-30% -20%

-70% -42%

-69% -39%

4% 2%

6% 0%

14% 10%

-27% -7%

-41% -15%

-55% -40%

13% 8%

-33% -8%

-48% -25%

-75% -48%

-79% -46%

-5% -3%

-10% -6%

Portugal Europe

2013 20132014 2014


Thinking about your actual spending behaviour compared to a year ago, are you doing less, the same or more of the following?Following previous years trends, consumers are becoming more promotions sensitive and digital oriented.

• More than 40% of Europeans are willing to search for discount information online and buy more products “on sale”.

• Portuguese are increasingly more sensitive to promotions, with 55% of respondents claiming they will buy more items on sale.

• In Portugal, online research is gaining ground with 52% of respondents claiming they will do more online research to find better prices and 40% to find opinions, suggestions.

• In a financial distress context, Portuguese consumers are more cautious regarding credit, with only 3% of respondents willing to use more consumer credits, against 68% claiming they will use less.

Research online to find better coupons, deals, etc

Buy more items “on sale”

Using loyalty points

Using loyalty points

Paying with debit card or cash

Paying with debit card or cash

Using credit proposed by retailer

Using credit proposed by retailer

Research online to find opinions, suggestions

Research online to find opinions, suggestions

Using gift cards

I enjoy purchasing in stores

I want to spend less money on food

I want to spend less money on food

Buy more items “on sale”

Research online to find better coupons, deals, etc

I delay big spendings

I delay big spendings

I enjoy purchasing in stores

Using gift cards

Using specialized consumer credit loans

Using specialized consumer credit loans

Europe

Portugal55%

41% 7%

9%

10%

14%

13%

6%

45%

39% 12%

12%

14%

10%44%

13%

16%

46%

48%

49%

40% 21%

21%

60%

60%

65%

33%

31%

18%

19%

16%

44%

32%

30%

37%

37%

39%

31%

56%

51%

65%

22%

17%

17%

61%

68%

6%

35%

10%

10%

11%

14%

52%

40%

40%

32%

34%

29%

32%

24%

20%

18%

19%

19%

19%

26%

25%

17%

19%

18%

13%

13%

13%

16%

13%

14%

I don't knowMore LessAbout the same

3%

3%

3%

3%

5%

5%

4%

5%

5%

5%

5%

5%


For each type of loyalty/reward programmes, could you rank them by preference?

As in 2013, immediate cash discounts continues to be the top preference for loyalty reward, both in Europe and Portugal.

66%63%

7%10%

6%5%

7%7%

0%

0%0%

3%

9%7%

5%6%

Portugal

Immediate discounts (cash off)

Earning points offering gifts

Receiving exclusive offers or invitation to exclusive events (private sales…)

Earning points offering vouchers/discounts to spend in other several retailers

Future discount (cash off)

Other

Earning points offering vouchers to spend in the store

Earning points offering vouchers/discounts to spend in the store and in the e-commerce site of the retailer

2013 2014

47%42%

13%12%

8%7%

11%11%

0%

1%1%

5%

10%11%

10%10%

Europe

Immediate discounts (cash off)

Earning points offering gifts

Receiving exclusive offers or invitation to exclusive events (private sales…)

Earning points offering vouchers/discounts to spend in other several retailers

Future discount (cash off)

Other

Earning points offering vouchers to spend in the store

Earning points offering vouchers/discounts to spend in the store and in the e-commerce site of the retailer

2013 2014

Xmas Survey 201456

The Omni-channel Consumer


17% 25%12%

22%25% 33%

36%33%

38%29%

75% 67%85%

64%83%

68%

38%31%

46% 42%50%42% 35%48% 43%48%

39% 40%43% 46%

35% 28%40%

36%41%

26% 32%16%

27%

27%

15%36%

18%29%

14%26%17%

32%

The Omni-channel Experience

Consumer Christmas shopping habits are increasingly cross-channel.

• In Europe, doing Christmas shopping online is already an habit for 36% of the respondents.

• In Portugal, cross-channel plays a major role on search and comparison shopping stages, with approximately 40% of respondents using both online and stores for searching and comparison purposes.

• In Portugal, the online channel is becoming progressively more popular as the channel for searching (+8% of respondents vs. 2013) and comparison (+2% of respondents vs. 2013).

• Online shopping conversion in Portugal (15%) has significant room for improvement comparing to European average (36%).

Online

2012 20122012 20122012 20122013 20132013 20132013 2013Searching SearchingComparing ComparingBuying Buying

2014 20142014 20142014 2014

Stores Online and stores

Portugal Europe


Where are you getting ideas and advice on the gift categories below?

Online and Omnichannel play a key role for ideas and advising on gifting.

• In Portugal:

• More than 5 out of 10 respondents claim to use websites only or websites and stores as the source for ideas and advice on gifting, with exception of food & drinks category.

• Already 41% of consumers claim they use websites only or websites and stores as the source for ideas and advice on food & drinks category, a significant increase compared to 32% of 2013.

Video games Video games

High tech High tech

Leisure Leisure

Sports Sports

Home gifts Fashion

Green tech Movies (DVD/ Blu-ray)

Books Books

Gift boxes & cards Health & beauty

Toys Home gifts

Movies (DVD/ Blu-ray) Music

Music Green tech

Health & beauty Gift boxes & cards

Fashion Toys

Food & drinks Food & drinks

Portugal Europe

41% 47%

28% 20%

23%

23%

37%

37%

37%

37% 30%

40% 31%

31%

42% 35%

45%

59% 56%

48%

31%

32%

22%

22%

21%

21% 17%

17%

18%

16%

38%

38%

47%

36%

36%

35%

38%

40%

37%

36%

41%

44%

46%

46%

42%

30%

47%

41%

41%

31%

39%

41%

43%

43%

43%

42%

40%

27%

40% 47%

38% 47%

35% 42%

34% 40%

27% 40%

23% 29%

22% 27%

16% 23%

15% 23%

14% 14%

21% 26%

20% 26%

17% 23%

Websites and storesWebsite Stores


Could you please state if you will be searching for products and comparing value online, in stores or both for the gifts categories below?Online gains ground also on searching and comparison shopping stage.

• 50% of respondents use at least websites to search and compare products, with exception of food & drinks category.

• Online also plays a major role in food & drinks category for search and comparison with 37% of consumers in Portugal and 45% in Europe using at least websites.

Video games Video games

High tech High tech

Books Leisure

Fashion Health & beauty

Home gifts Home gifts

Green tech Music

Leisure Green tech

Sports Sports

Health & beauty Fashion

Movies (DVD/ Blu-ray) Movies (DVD/ Blu-ray)

Music Books

Gift boxes & cards Gift boxes & cards

Toys Toys


Portugal Europe

27% 39%

35% 21%

22%

23%

51%

36%

34%

34%47%

47%

30%48%

48%

31%

32%

63% 55%

43%

40%

29%

31%

29%

30%

26% 17%

17%

17%

19%

47% 44%

44%

50%

50%

50%

48%

32%

51%

43%

45%

49%

46%

46%

47%

44%

46%

45%

45%

35%

44%

41%

41%

42%

42%

29%

48%

50%

26% 37%

23% 37%

21% 33%

20% 33%

16% 31%

16% 25%

14% 23%

11% 20%

10% 19%

8% 13%

13% 22%

12% 21%

12% 20%

Websites and storesWebsite Stores


Where would you actually buy the specific gifts below?

Online shopping conversion market share is growing.

• In Europe, although a significant percentage of consumers still prefer to close the deal in-store, in several categories, more than 50% of consumers already prefer pure online/mobile or ordering online from physical stores.

• Gifts such as movies, music and video games will be mostly bought online by consumers.

• In Portugal, physical stores still play a major role when closing the deal, although online is a key traffic generator for stores.

Video games Movies (DVD/ Blu-ray)

Leisure Books

High tech Green tech

Home gifts Gift boxes & cards

Toys Health & beauty

Music Video games

Green tech Leisure

Sports Sports

Health & beauty Fashion

Movies (DVD/ Blu-ray) Music

Books High tech

Gift boxes & cards Toys

Fashion Home gifts


Portugal Europe

22% 47% 37%

47%

45%

50%

57%

57%

58%

60%

59%

63%

81%

48%

38%

36%

12% 13%

13%

14%

14%

14%

11%

11%

11%

11%

10%

7%

12%

12%

12%

12%

10%

9%

9%

7%

7%

6%

7%

8%

8%

13%

13%

65%

65%

68%

71%

71%

74%

75%

81%

79%

79%

78%

82%

82%

92%

20% 45%

20% 44%

17% 38%

16% 38%

15% 33%

15% 32%

10% 27%

10% 24%

9% 22%

9%

10% 26%

10% 26%

10% 25%

Online In physical stores Ordering online in/from a physical storeMobile commerce Mail order catalogues

3% 4%

4%

4%

2%

2%

3%

3%

2%

2%

2%

2%

2%

1%

1%

1%

1%

1%

1%

2%

2%

2%

2%

3%

3%

3%

3%

3%

3%

3%

3%

4%

3%

3%


How much did your household approximately spend on the subjects below for the year-end festivities in 2013 and what do you expect to spend in 2014?The weight of internet shopping is growing on a steady pace in Europe and already has a significant market share in most countries.

Euro

pe

Greece

Denmark

Russi

a

Franc

e

German

y

Polan

dSp

ain

Belgi

umUK

Switz

erlan

d

Finlan

d

Sout

h Afri

ca

Portu

gal

Luxe

mbour

gIta

ly

The N

etherl

ands

Ukraine

20122011 2013 2014

0%

10%

30%

60%

20%

50%

40%

29%

51%

33%

11%

24%29%

21%

28%

45%

29%

15%

35%

26%30%

38%

32%

26%21%

Europe


To what extent do you use physical stores as a showroom, visit a physical store to see and compare the products (price) and then buy them via internet?Channels strategic role increasingly blurring.

• Only 31% of consumers in Portugal and 24% in Europe claim they never used physical stores as a showroom and then bought on internet, whereas 22% in Portugal and 25% in Europe claim they always or often do it.

31% 24%

47% 51%

19% 20%

3% 5%

Portugal Europe

Never Never

Often Often

Sometimes Sometimes

Always Always


When going online consumers use multiple sources for searching and comparing products.

• Websites of brands/suppliers, search engines and online shops are the most popular sourcing tools for European and Portuguese e-consumers to search and compare products (average 90%).

• Social media, forums and blogs are also gaining popularity among internet users in order to compare and search products, a trend which is stronger in Portugal than in other European countries.

You stated that you will be going online. Please state for each option mentioned below if you will or will not be using them for searching and/or comparing products.

82% 66%

84% 77%

87% 74%

87% 79%

83% 69%

85% 77%

83% 87%

88% 92%

92% 86%

92% 91%

55% 50%

56% 43%

88% 84%

86% 88%

90% 91%

90% 92%

92% 86%

60% 55%

63% 47%

83% 84%

83% 86%

89% 90%

90% 85%

82% 89%

64% 58%

63% 51%

84% 84%

Portugal Europe

Online shops(without offline stores)

Online shops(without offline stores)

Email newsletter and online leafletI receive

via email

Email newsletter and online leafletI receive

via email

Search engines Search engines

Social media (Facebook, Twitter,

etc)

Social media (Facebook, Twitter,

etc)

Websites of brand/suppliers

Websites of brand/suppliers

Comparison sites Comparison sites

Websites with coupons and offers

Websites with coupons and offers

Forums and blogs Forums and blogs

Online shops (with one or more

offline stores)

Online shops (with one or more

offline stores)

2012 2013 2014 2012 2013 2014


You stated you will be using social media. Below please indicate how you will be using social media by giving your opinion/advice.However, when sharing information, they focus on giving advice/recommendations about products.

65% 59%

64% 62%

51% 51%

56% 48%

57% 54%

59% 56%

68% 62%

65% 62%

61% 58%

50% 54%

60% 48%

72% 57%

Portugal Europe

I give my opinion/advice to trusted comments, recommendations about products

I give my opinion/advice about product(s) (properties)

I give my opinion/advice about gift ideas I give my opinion/advice about prices

I give my opinion/advice about prices I give my opinion/advice to trusted comments, recommendations about products

I give my opinion/advice on retailer’s fan page(s) I give my opinion/advice about gift ideas

I give my opinion/advice about discounts, coupons, sale information

I give my opinion/advice about discounts, coupons, sale information

I give my opinion/advice about product(s) (properties) I give my opinion/advice on retailer’s fan page(s)

2013 2014 2013 2014


You stated you will be using social media. Below please indicate how you will be using social media by looking for information.When using social media, consumers prefer searching for information rather than sharing their point of view.

• The majority of consumers look for information related to prices and discounts, both in Portugal and Europe.

94% 83%

93% 83%

86% 80%

86% 78%

79% 69%

63% 71%

92% 82%

92% 83%

93% 81%

87% 82%

87% 80%

77% 68%

63% 71%

89% 78%

Portugal Europe

I look for information about prices I look for information about prices

I look for trusted comments, recommendations about products

I look for trusted comments, recommendations about products

I look for information about discounts, coupons, sale information

I look for information about discounts, coupons, sale information

I check what gifts family/friends want I check what gifts family/friends want

I look for information on the retailer’s fan page(s)

I look for information on the retailer’s fan page(s)

I look for information about gift ideas I look for information about gift ideas

I look for information about product(s) (properties)

I look for information about product(s) (properties)

2013 2014 2013 2014


I have already done

Have you ever used your smartphone to buy a product and do you expect to use it in the future for buying products?M-commerce is increasing its importance every year.

• The use of smartphones for shopping is increasing in every single country.

• The average European shopping penetration rate using mobile is 39% in 2014, three countries are already above 50% - England, South Africa and Germany.

Euro

pe

Greece

Denmark

Russi

a

Franc

e

German

y

Polan

dSp

ain

Belgi

umUK

Switz

erlan

d

Finlan

d

Sout

h Afri

ca

Portu

gal

Luxe

mbour

gIta

ly

The N

etherl

ands

Ukraine

20132012 2014

39%

59%

32% 32% 33% 33%

51%

25%25%

45% 43%

34%

46% 46%

36% 35%

23%

50%


Have you ever used your smartphone to buy a product and do you expect to use it in the future for buying products?M-commerce´s potential is significant when measured by consumers future usage intentions.

• Usage growth expectation rates are especially large for Portugal, Poland, Ukraine, Greece and Russia.

48%

32%

47%

64%

51% 49%

59%

38%

29%

23%

36% 35%36%39%

59%

32%

25%

45% 43%

34%

46%50%

46% 46% 45%41% 43%

66% 66% 65%

49%

Euro

pe

Greece

Denmark

Russi

a

Franc

e

German

y

Polan

dSp

ain

Belgi

umUK

Switz

erlan

d

Finlan

d

Sout

h Afri

ca

Portu

gal

Luxe

mbour

gIta

ly

The N

etherl

ands

Ukraine

Europe

I already have I will do in the future

32% 33% 33%

51%

25%

Xmas Survey 201468

Physical stores


For the gifts you intend to buy in stores, where do you think you will buy your gifts?

For Xmas 2014, Hypermarkets and Supermarkets are progressing at the expense of traditional department stores.

• Department stores are losing market shares against Hypermarkets in Finland and Ukraine.

• Concerning specialty chains, they are gaining market shares in Germany and its neighbour countries, but losing market shares in Spain.

• The preference remains the same for France and Italy where Hypermarkets/supermarkets have always occupied the first position since 2012 in terms of buying gifts.

20142013

Speciality chainsTraditional department stores Hypermarkets/supermarkets


For the gifts you intend to buy in stores, where do you think you will buy your gifts?

Specialty chains are on average still the most important channel for European consumers to buy gifts.

In Portugal:

• Traditional department stores are top ranked but decreased weight comparing to last year.

• Hypermarkets/supermarkets have an increase of 3% comparing to 2013.

• Hypermarkets/supermarkets are the most important channel for food&drinks and gift boxes&cards shopping.

• For sports and toys the most relevant channels are specialty chains.

• For all other categories, traditional department stores are the key channel.

49% 30%

19% 29%

19% 22%

6% 13%

6% 3%

1% 3%

45% 29%

22% 28%

21% 25%

7% 13%

5% 3%

1% 2%

44% 33%

25% 24%

20% 25%

4% 12%

3% 3%

3% 4%

Portugal Europe

Hypermarkets/supermarkets

Hypermarkets/supermarkets Traditional department stores

Traditional department stores

Luxury storesLuxury stores

Traditional local shopsTraditional local shops

Factory outlet storesFactory outlet stores

Speciality chains

Speciality chains

2012 2013 2014

Books High tech Gift boxes& cards

Movies(DVD/BluRay)

Health &beauty

Sports LeisureMusic Green tech Home giftsVideogames

Food &drinks

Fashion Toys

Traditional department stores Speciality chains Luxury stores Traditional local shops Hypermarkets/supermarkets Factory outlet stores

Portugal


As last year, the majority of European countries intend to buy food in hypermarkets and normal sized supermarkets for the year-end festivities.

• In spite of the development of hypermarkets in Poland, the country is still an exception since 2012 compared to the other European countries: hard discount stores remains their most favorite physical stores to buy food.

For the food you intend to buy for the year-end festivities, where do you think you will buy it?

Ireland Hypermarket sized shops

France Hypermarket sized shops

Portugal Hypermarket sized shops

Spain Hypermarket sized shops

Italy Hypermarket sized shops

Greece Hypermarket sized shops

Switzerland Normal sized shops

Germany Normal sized shops

Luxembourg Normal sized shops

Belgium Normal sized shops

The Netherlands Normal sized shops

Denmark Normal sized shops

Finland Hypermarket sized shops

Poland Hard discount stores

Czech Republic Normal sized shops

Ukraine Normal sized shops

Russia Hypermarket sized shops


For the food you intend to buy for the year-end festivities, where do you think you will buy it?Hypermarket and supermarket are the favorite stores for most European consumers to purchase food as in previous years.

• In Portugal, hypermarkets are definitely the most important channel but supermarkets are also gaining penetration.

2012 2013 2014

Portugal

82%

55%

9%

24%10%

25%

2%

83%

65%

8%

40%

8%

37%

1%

80%71%

9%

48%

7%

39%

1%

Hypermarketsized shops

Normal sizedsupermarkets

Hard discountshops

Traditionalfood shops likethe boutcher,

the baker etc...

Internetshopping

Luxuryboutiques

Conveniencestores

Hypermarketsized shops

Normal sizedsupermarkets

Hard discountshops

Traditionalfood shops likethe boutcher,

the baker etc...

Internetshopping

Luxuryboutiques

Conveniencestores

Men Women

Portugal

80%74%

48%40%

8% 7%

80%69%

47%39%

9% 8% 2%

Xmas Survey 2014 73

Assessments of retailers


For each type of delivery, could you rank them by preference?

For Xmas 2014, both in Europe and Portugal, it is still favored to take-away immediately the product bought in stores. However consumers are increasingly considering home delivery after ordering online, this is particularly true for Portugal.

42% 52%

40% 31%

9% 9%

9% 8%

47% 58%

32% 27%

11% 8%

10% 7%

Portugal Europe

Take away immediately after shopping in store Take away immediately after shopping in store

Store pick up after ordering online

Store pick up after ordering online

Home delivery after ordering online Home delivery after ordering online

Pick up at other location after ordering online

Pick up at other location after ordering online

2013 2014


Were the online gifts you ordered delivered on time last year (2013)? If no, in what way does it affect your buying behaviour this year?89% of customers say their orders for Xmas 2013 have been delivered on time, similar to last year.

• 11% of them declared that the delivery was delayed. Among these 11%, only 31% remain convinced by the advantages of e-commerce and will choose to order earlier next time.

49%

31%

15%

5%

0%

Portugal

I will buy gifts in stores this year

I will buy online, but at an earlier stage

I will buy online, but from a different retailer/webshop

I will buy online, but I will pick up the product in the physical store myself

It will not affect my buying behaviour

YesNo

Portugal

11%

89%


Which channel responds most adequately to your following shopping needs?

E-commerce and physical stores satisfy different consumer needs, online and offline channels complement each other.

• For Europeans, online is chosen as the best way to compare products and prices. Internet gives access very quickly to a diversity of offers and products, and it allows to know the opinion of other consumers.

• In Portugal:

• 64% of people perceive as a top advantage of the digital channel the possibility to know the consumers opinion on products.

• 60% of people perceive that prices can be compared more easily thanks to the digital channels. Home delivery and convenience are also key main attributes to consumers favor e-commerce shopping.

Home delivery

After sale service (repair)

Pleasure while shopping (nice experience)

Shopping when I want

Possibility to know the consumers opinion on products

Products can be compared easilyPrice level

Information on availability of products (in stock)

Competent and professional advice

It’s easy to search for and choose what I need

Prices can be compared easily

Safety in respect of payment

I can get the products I purchased quickly

Quality of product information

Broad assortment

Shopping costs little time

Protection of my personal datas (ID, address, etc)

Possibility to easily exchange or to return products

EuropePortugal

61%

20%

31%

75%

72%

32%

39%

37%

28%

41%

30%

35%

71%

73%

37%

75%

48%

67%

69%

39%

27%

53%

26%

46%

22%

60%

55%

63%

23%

59%

57%

24%

20%

56%

64%

51%

E-commerce In physical stores TeleshoppingM-commerce

6%

6%

4%

4%

4%

4%

5%

5%

7%

7%

6%

6%

6%

6%

4%

4%

5%

3%

2%

2%

2%

Home delivery

After sale service (repair)

Pleasure while shopping (nice experience)

Shopping when I want

Possibility to know the consumers opinion on products

Products can be compared easilyPrice level

Information on availability of products (in stock)

Competent and professional advice

It’s easy to search for and choose what I need

Prices can be compared easily

Safety in respect of payment

I can get the products I purchased quickly

Quality of product information

Broad assortment

Shopping costs little time

Protection of my personal datas (ID, address, etc)

Possibility to easily exchange or to return products

56%

10%

40%

88%

88%

47%

53%

55%

35%

62%

40%

50%

50%

89%

80%

87%

60%

81%

81%

52%

16%

44%

18%

38%

9%

48%

45%

57%

11%

47%

47%

17%

9%

42%

60%

36%

3%

2%

2%

2%

2%

2%

2%

2%

2%

3%

3%

4%

3%

4%

4%

• When choosing offline stores consumers appreciate the possibility to return products, after sales service and professional advice.


Which area would you expect retailers to invest in, in order to improve your shopping experience?Lower prices, better integration of both offline and online channels and customer relationship are the key topics consumers would like to see retailers investing on.

3,1 2,8

1,2 1,1

0,7 0,6

1,5 1,3

1,2 0,8

0,5 0,6

1,4 1,5

0,8 0,8

1,2 1,3

0,7 0,7

Portugal EuropeLower prices

Customer relationship (advice)

Self scanning check outs

Better integration of physical and online stores

Provide online services in store

Home delivery

Economic sustainability

Provide the advantages of physical stores to online stores

Social sustainability

Ecological sustainability

Lower prices

Customer relationship (advice)

Self scanning check outs

Better integration of physical and online stores

Provide online services in store

Home delivery

Economic sustainability

Provide the advantages of physical stores to online stores

Social sustainability

Ecological sustainability

Xmas Survey 201478

Survey methodology


Survey methodology

• Deloitte realized this survey about the consumption during year-end period in 17 countries from Western Europe, Eastern Europe, and in South Africa, and included 17,326 consumers. A similar survey is conducted in Canada, in the United States and in Latin America.

• The conclusions of this survey are based on consumer data which have been collected during a survey realized by Deloitte.

• The fieldwork was executed in October 2014 (first to third week). View page 80 for details.

• Data related to spending values, in euros, was collected in two different periods:

• 1st round: First two weeks of October;

• 2nd round: Second week of November.

• Respondents are aged 18 to 65 years old. Information has been collected via Internet, with a structured questionnaire for a sample of individuals, within controlled panels.

• Each consumer in the panel is identified by panelist firms through the following aspects:

• Socio-demographics;

• Personal interests;

• Consumer behavior.

• To adjust the Internet sample to the population of each country, we used ex-post statistical weighting. The weighting is based on gender and age in each country.


Survey methodology

Participating countries - 17 Go live date Fieldwork ready * Sample

Belgium 09-10-2014 14-10-2014 848

Denmark 09-10-2014 15-10-2014 761

Finland 10-10-2014 15-10-2014 762

France 09-10-2014 15-10-2014 1.553

Germany 15-10-2014 17-10-2014 1.785

Greece 09-10-2014 15-10-2014 609

Italy 07-10-2014 14-10-2014 1.774

Luxembourg 09-10-2014 14-10-2014 601

The Netherlands - - 1.626

Poland 06-10-2014 15-10-2014 763

Portugal 08-10-2014 15-10-2014 760

Russia 03-10-2014 13-10-2014 761

South Africa 09-10-2014 16-10-2014 764

Spain 03-10-2014 13-10-2014 1.683

Switzerland - - 785

Ukraine 03-10-2014 14-10-2014 769

United Kingdom 09-10-2014 14-10-2014 762

Total 17.326

* View page 79 for details

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A Deloitte presta serviços de auditoria, consultoria fiscal, consultoria de negócios e de gestão e corporate finance a clientes nos mais diversossectores de actividade. Com uma rede globalmente ligada de firmas membro em mais de 150 países e territórios, a Deloitte combina competências de elevado nível com oferta de serviços qualificados conferindo aos clientes o conhecimento que lhes permite abordar os desafios mais complexos dos seus negócios. Os mais de 200.000 profissionais da Deloitte empenham-se continuamente para serem o padrão de excelência.

Esta comunicação apenas contém informação de carácter geral, pelo que não constitui aconselhamento ou prestação de serviços profissionaispela Deloitte Touche Tohmatsu Limited, pelas suas firmas membro ou pelas suas entidades relacionadas (a “Rede Deloitte”). Nenhuma entidade da Rede Deloitte é responsável por quaisquer danos ou perdas sofridos pelos resultados que advenham da tomada de decisões baseada nesta comunicação.

© 2014. Para informações, contacte Deloitte & Associados, SROC S.A.

Luís BeloPartnerConsumer BusinessTel: +351 210 427 611Fax: +351 210 427 [email protected]

Nuno NettoAssociate PartnerConsumer BusinessTel: + 351 210 422 525Fax: +351 210 427 [email protected]

Para mais informações,contacte-nos:

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