- The department stores sector had already been struggling to maintain its position within global retailing even before the downturn. The channel needs to overcome its perception as dated, overpriced and lacking relevance to young consumers.
- The department stores format has traditionally been dependent on urban environments. As the percentage of the world’s population living in rural areas decreases, more opportunities for department stores retailers should emerge.
- Online retail poses a significant threat to department stores, and the product categories offered by major players such as Amazon and newcomers such as Tesco Direct continue to expand. Department stores need to invest in their own operations.
- Concessions are a long-standing part of the department stores business model and help retailers to differentiate themselves from the competition. The current retail environment is putting relationships under pressure, and new models are emerging.
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