Trading down: Price competition remains intense over 2023 as the cost of living bites
Department store revenue is expected to drop at a compound annual rate of 7% over the five years through 2023. Unsurprisingly, the pandemic had a huge role in the fall of the department store, with state-mandated closures pushing consumers online. Even after reopening, the once one-stop-shop failed to gain momentum to recover quickly. But there was trouble in paradise even before the word 'lockdown' became daily vocabulary thanks to intense competition.
Department stores are non-specialised retail stores that stock and sell a wide range of items covering many different product categories, such as food, clothing, novelty items, furniture and more.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Marks and Spencer Ireland Ltd
- Frasers Group plc
- Brown Thomas Arnotts Ltd
Methodology
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