About this reportAbout the market…This report is essentially three reports in one as it covers three distinct markets, namely, book, music and video retailing.
The three product categories are often grouped together under the heading of “cultural goods” and while the three sectors have enjoyed varying degrees of success in recent years, the products share certain similarities that justify our decision to include them in one report title.Specialist retailers hold an estimated 62% of the books, music and video market, as the Italian retail scene is still very fragmented with a large number of small independent retailers.
Italian consumer spending on books rose 8.8% from 1999-2003, including substantial growth at the beginning and end of this period.
However, music sales have declined significantly in the period from 1999 to 2003, due to the growing use of CD burners amongst computer users, as well as the development of peer-to-peer file sharing networks on the Internet.
The Italian VHS & DVD retail and rental markets have grown by some 50% in the past five years and experienced better growth than the book or music retail market.
What is driving this growth?Due to its geography, Italy has always been a difficult market for multiples with most companies expanding regionally rather than nationally.
Mintel predicts that the major specialists in the Italian Market will gain market share through organic expansion and the acquisition of smaller retailers.
About Mintel’s research…Pooling together the most innovative consumer research and latest market analysis, Mintel's new report offers you all the insight and inspiration you need for designing clever, creative and profitable business strategies in the Italian market.
Use Mintel's research to:Develop your sales strategies to win shares of developing markets Discover what consumers think about purchasing books, music and videos Switch Italian book browsers, to book buyers Pinpoint market potential before your competitors Find out how to best reach key audiences with the most effective marketing communications Track the sales performance and trading strengths and weaknesses of the market’s leading retailers Measure market forecasts and build realistic business modelsIntriguing findings include…Some 4% of sales in the books, music and video market are generated through the Internet according to Mintel estimatesMintel estimates that the top four retailers hold a share of just 8% and believes there is strong potential for development