The Future of Department Stores

Forrester eCommerce

The Department Store’s Bright Future Department Stores Can Enjoy a Bright Future. Department stores must change to survive and thrive fierce competition from brands’ direct to consumer initiatives.

Will Department Stores Be History By 2030?

Retail TouchPoints

The report that Barneys New York is examining strategic alternatives that could include a bankruptcy or sale is the latest indicator that department stores — even the luxury ones — just aren’t moving the needle for shoppers.

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Department stores miss out on Fourth of July consumer attention

retaildive

Specialty retailers, while giving off-price retailers a run for their money, leaned on promotions to sway shoppers, according to Wedbush analysts

Department stores may take malls down with them

RetailWire

Mall operators have long counted on anchors, typically department stores, to attract shoppers who also visit other retailers and restaurants on their visits. With a growing number of department stores closing locations or going out of business altogether, malls are having to quickly adapt if they want to survive. A report by Coresight Research says up to 25 percent of the nation’s malls are currently or will be in financial jeopardy in the near future

New York City department stores reopen for shoppers

RetailWire

The city’s retailers are looking to rebound after having to close stores in March due to the coronavirus pandemic and many already know that business will continue to be down as the millions of tourists that typically come to New York each year is severely affected by the COVID-19 outbreak There are deals to be had for customers wearing masks that go shopping at Nordstrom, Saks Fifth Avenue and Tiffany in Manhattan.

Department Store Shares Are Up. Your Hopes Shouldn’t Be.

Steve Dennis

Amidst reports that holiday spending was up nearly 4.9% , some optimism about the American moderate department store sector has started to creep back in. Tighter inventories, store closings and other expense reductions should lead to year-over-year profit improvements. As I pointed out several months ago , at least two major things must happen before any optimism about the prospects of any of the middle market department store brands is warranted.

Crossing the Digital Divide: 6 Best Practices for Department Stores and Digital Marketplace Retailers

Sailthru

When it comes to department stores and marketplace retailers, digital truly is the divide. It’s easy for department stores to get caught up in Shiny Object Syndrome, ignoring the fundamentals in favor of the bells and whistles like smart fitting rooms and augmented reality displays.

Department stores aren’t going away, but 3 big things still need to happen

Steve Dennis

It’s been a long, slow slide for department stores. In addition, Sycamore looks to be picking at the carcass of Bon-Ton Stores and Lord & Taylor is selling its iconic Manhattan flagship to WeWork.

New Uberall research shows struggling UK department stores are missing out on high street customers due to online ‘invisibility’

Retail Technology Review

Uberall, the Berlin-headquartered location marketing technology specialist, has announced the findings of its research into the accuracy of online location search results of the UK’s largest department stores. Critical Issues Internet Retailing

Leading department store chooses Bamboo Rose to revamp its backend

Bamboo Rose

Department stores have notoriously long, complex supply chains – take it from a leading specialty retailer with more than 30 brands offered in-store and online. The post Leading department store chooses Bamboo Rose to revamp its backend appeared first on Bamboo Rose.

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 Without this shift, same-store sales would have increased only about 1.7% Penney and Sears ( and now Bon-Ton ) have been leaking volume through store closings and comparable store sales declines.

Department store quarterly performance: Better isn’t the same as good

Steve Dennis

Last week we had five major department stores report their quarterly earnings: Macy’s , Kohl’s , Nordstrom , Dillard’s and JCPenney. The main reason is that department stores failed to innovate. There is no fundamental reason why any given department store cannot not have a viable operation with hundreds of physical locations, particularly when we realize that some 80% of all products in core department store categories are purchased offline.

Nike Shows No Brand Is ‘Too Good’ For Amazon

Retail TouchPoints

Nike has forged a strong direct-to-consumer (DTC) push, aiming to cut product creation cycle times in half and uniting its web site, stores and digital products under a single team called Nike Direct. In another case that feels like déjà vu, department stores are falling on the sword. “If

Can Macy’s Revive Its Brand Through Discounting?

Retail TouchPoints

Macy’s incoming CEO Jeff Gennette revealed at the Bank of America Merrill Lynch Consumer & Retail Technology Conference last week that the department store plans on making significant changes to its struggling brick-and-mortar presence. Recently, this same store was slashed in half.

Story founder Rachel Shechtman to leave Macy's

retaildive

Is the department store's reinvention over before it even began

Direct to Consumer Trends: Up & Coming Brands Succeeding with DTC

BigCommerce

Chances are you trudged along in a warehouse or department store, making… General Ecommerce Tips ecommerce trendsThink about the first time you purchased furniture.

Macy's Q1 loss approaches $4B

retaildive

The eye-popping tumble is nearly four times the department store's warning last month, as forced closures prompted a $3.2 billion impairment charge

Apparel margins take a hit as retailers face a new future

retaildive

Reopenings are leading to clothing sales amid some pent-up demand, but specialty and department stores will keep some doors shut for good

Le Tote Buys Lord + Taylor — A Most Peculiar Way To Buy Growth

Forrester eCommerce

The strangest retail news of the summer has been Le Tote’s “purchase” of the storied (but tired) department store Lord + Taylor.

FORRward: A Weekly Read For Tech And Marketing Execs

Forrester eCommerce

Le Tote Buys Lord + Taylor — A Most Peculiar Way To Buy Growth Fashion subscription company Le Tote agreed to acquire the storied (if tired) department store Lord + Taylor.

Reuters: Sycamore Partners in early acquisition talks with J.C. Penney

retaildive

With the bankrupt department store chain's fate in the air, a private equity deal could save it from liquidation if Penney can't forge a plan with lenders

Online spending partly rescues dismal December

Retail Technology Review

But a strong showing from department store web sales saved Christmas for many retailers says ParcelHero. ONS retail sales figures for December saw overall sales fall 0.6% against November. Critical Issues Internet Retailing Retail Supply Chain

Comfort eating? Online shoppers put their money where their mouth is

Retail Technology Review

2% compared to July, and department store sales continuing to tumble -1.3% Office of National Statistics (ONS) retail figures for August highlighted the pre-Brexit wobble in consumer confidence, says the home delivery expert ParcelHero, with sales volumes down -.2% on the previous month and -2.5% on August 2018. Critical Issues Internet Retailing Retail Supply Chain

3 Ways to digitally transform your health & beauty eCommerce business

TradeGecko

According to a 2017 Deloitte study , older sales channels, such as department stores, are being challenged by online sales and specialty stores.

CT Baker Group reinstates post office service

TalkingRetail

CT Baker Group is to open a ‘pop-up’ post office counter service within its Bakers & Larners department store tomorrow (26 June), just six days after a devastating fire destroyed Budgens of Holt store.

DTC Pricing Teardown: How Brooklinen’s Pricing Strategy Boosts Sales

Prisync

Through bypassing traditional distributors and department stores, vendors can take back control and sell directly to the consumer. The way big online marketplaces and department stores price their products is wildly different from how everyday e-commerce stores do. DTC e-commerce vendors are completely changing the game of online selling.

Online spending in July spikes, through retailers need eCommerce capabilities to capitalise on the rise, says Tryzens

Retail Technology Review

in July 2018, equalling the amount spent in UK department stores. Figures from the Office of National Statistics (ONS) have revealed that online spending continued to increase to reach a new record proportion of all retailing at 18.2% Internet Retailing Critical Issues

Fashion marketplaces: Saving the apparel industry?

TradeGecko

Once upon a time, private label clothing brands would first design clothes, market them, find buyers at department stores and chain retailers, fulfill orders, plan logistics to accommodate demand, and distribute to physical stores.

DTC Pricing Teardown: How Brooklinen’s Pricing Strategy Boosts Sales

Prisync

Through bypassing traditional distributors and department stores, vendors can take back control and sell directly to the consumer. The way big online marketplaces and department stores price their products is wildly different from how everyday e-commerce stores do. DTC e-commerce vendors are completely changing the game of online selling.

A Strong Relationship With Customers: How to Build it with D2C

Prisync

In general, D2C products are much more expensive as they can’t rely on a distributor placing them in department stores or online multi-vendor marketplaces.

The Neiman Marcus Bankruptcy: Separating The Myths From The Realities

Steve Dennis

Department store woes have little to do with Neiman’s problems. It’s easy to throw Neiman Marcus into the mix of the well known, long-standing struggles of mall-based anchor stores. The lever of continuing to raise prices to drive comparable store sales was hitting a wall.

Macy’s Thanksgiving Day Parade Brings Spectacle to the Season

BigCommerce

In 1924, Macy’s welcomed the world’s largest department store with their first parade in New York City. Macy’s employees dressed up and marched alongside animals borrowed from the Central Park Zoo, leading a giant Santa Claus for 6 miles from Harlem to the store at Herald Square.

The Genesis of Holiday Window Displays

BigCommerce

The holiday season in major cities around the world is typically heralded by seasonal window retail displays put up by department stores and retailers large and small. One of the first major holiday window displays was put up by Macy’s New York store in 1874.

A Strong Relationship With Customers: How to Build it with D2C

Prisync

In general, D2C products are much more expensive as they can’t rely on a distributor placing them in department stores or online multi-vendor marketplaces.

Personalization As The Digital Strategy For Beauty Commerce

Retail TouchPoints

In physical brick-and-mortar stores, the personal nature of the beauty industry is clearly evident in the important role the in-store beauty consultant plays in helping consumers discover, evaluate, try on and ultimately purchase beauty products.

Macy’s Cuts 3,900 Corporate Jobs In Cost Restructuring Effort

Retail Touch

While the reopening of our stores is going well, we do anticipate a gradual recovery of business, and we are taking action to align our cost base with our anticipated lower sales.”. Macy’s closed all its stores on March 18, 2020 and began gradual reopenings in early May.

Will ‘Dangerous Discounting’ Minimize Margins For The Back-To-School Season?

Retail TouchPoints

My concern lies with the department stores that have felt forced to discount heavily in their attempt to keep pace. These retailers haven’t been able to pivot their overall store businesses fast enough, and they aren’t able to take the financial hits that Walmart and Target can sustain.

Bailing Doesn?t Fix The Hole

Steve Dennis

The parade of bankruptcies that is being unleashed–or more accurately, accelerated –by the COVID-19 pandemic will result in vast numbers of store closings, layoffs and other major expense reductions as long-struggling retailers attempt to stave off liquidation.

Costco, Nordstrom And Abercrombie Results Showcase Retail Fortunes Across Three Verticals

Retail Touch

Q1 2020 financial results for Costco , Nordstrom and Abercrombie & Fitch encapsulate how three retail verticals — club, department and specialty apparel — are weathering the COVID-19 pandemic. The declines were attributed to store closures, though the retailer has reopened about 40%.

Kohl’s, JC Penney and the relentless collapse of retail’s boring middle

Steve Dennis

As I have written about before , the moderate department store sector was in decline long before Amazon was anywhere close to being the force it is today. In fact, to put a point on this, in the face of Kohl’s and Penney’s negative store comps, TJX posted strong increases.