Department stores: Major trends transforming the retail landscape
In the increasingly competitive world of retail, department stores are struggling. This case study takes a close look at the major trends which have transformed the landscape in which department stores operate, how this has ultimately led to their downfall and whether they will be able to bounce back in the future.
- Department stores have undoubtedly suffered as a result of the popularity of online retail and fast fashion, two trends which have drastically changed the needs and desires of the modern day customer.
- Department stores with a strong identity and clear target audience are best placed in the new environment, illustrating that department stores are not simply doomed, but that the poor performers are now feeling the implications of years of failing to adapt.
- There is a future for department stores in retail, but they are entering another period of fundamental change in how the sector is organized, and adapting to new challenges is critical.
- Implementing exciting technology into stores and excelling in the services that online retailers are unable to offer will be crucial for department stores that wish to thrive in the future.
- Examines the key trends which have impacted department stores
- Identifies the failures of those unwilling to adapt
- Analyzes department stores that are performing well
- Examines future trends that will effect stores
- Determines whether department stores have a future in retail
Reasons to buy
- What are the trends negatively impacting department stores?
- Which stores have failed to adapt to change?
- Which stores are doing well and why?
- What does the future hold for department stores?