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Department Stores – what does the future hold?

365 Retail

The huge increase in online shopping over the past decade or so has had a major impact on department stores, with many consumers turning to Amazon, eBay and other online shops for shopping, rather than a more traditional trip out to a physical store. Changing culture of shopping.

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Is this the beginning of a department store renaissance? Eh, not so much.

Steve Dennis

Then Kohl’s followed up with a similarly surprising upside report that led some to conclude that maybe, just maybe, the long-beleaguered department store sector might be seeing a resurgence or—dare we say it out loud?—the The moderate department store sector has been in decline for a long, long time.

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How to Meet and Exceed Amazon-Driven Customer Expectations 

ESW

But as retailers and brands with DTC ecommerce channels know, meeting online customer expectations in an Amazon-dominated environment is challenging to say the least. From the shuttering of physical stores to seismic shifts in logistics operations, many blame The Amazon Effect. But in order to compete, brands need to do just that.

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The Need for Delivery Speed Drives Holiday Hiring

Retail TouchPoints

While Amazon and many big box retailers have announced their seasonal hiring plans, department stores and fashion chains have been notably, but not unexpectedly, quiet. The pandemic has negatively impacted the department stores’ businesses. Relieving Pressure On Stores.

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The Fusion of Food, Fashion and Gastronomy

Retail TouchPoints

Agile store interiors allow for seasonal events, pop-ups, subletting of certain areas to third-party partners and altering the positioning of interior elements — all ways to create entertaining spaces where customers like to linger. Another reason is the fact that customers appreciate the high level of expertise offered.

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#RSP22: Everything You Need to Know About Holiday 2022

Retail TouchPoints

YOY growth this holiday season, whereas department stores will only see a 0.3% Focus on bringing people back to stores: In-store retail sales are expected to increase 7.9% How Farfetch Boosted Customer Satisfaction 25% with Customer-Centric AI.

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5 Trends from NRF 2023 That Retailers Can’t Ignore

Retail TouchPoints

For example, churn prediction, recommendation engines and customer lifetime value models were discussed at multiple booths. Major opportunities include content production — especially for marketplaces — and product descriptions, product recommendations and of course customer service.

Retail 246