Department Stores in Florida
Similar to the industry on the national level, the Department Stores industry in Florida has contracted over the five years to 2017. The industry's decline is the result of both rising competition from online-based businesses and the transition of department stores to supercenters through industry players adding fresh groceries to their product lines. E-commerce has posed an especially large threat to department stores over the five-year period. Since online retailers incur lower overhead costs, they are often able to pass those cost savings along to the consumer in the form of lower selling prices. Over the five years to 2022, similar trends will continue to cause the industry to contract.
Department stores retail a broad range of general merchandise, such as apparel, jewelry, cosmetics, home furnishings, general household products, toys, appliances and sporting goods. Discount department stores, which are also included in this industry, retail similar lines of goods at low prices. However, big-box retailers and supercenters that offer fresh groceries in their stores, and warehouse clubs that operate under membership programs, are not included in this industry.
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.
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