“Department stores are having to justify their raison d’être and are seeking to adapt to the changing dynamics of the marketplace. The main players in the market have recognised a need to focus on experiential retail in response to growing demand for leisure and experiences over purchasing of products. They are redesigning their stores with improved beauty services, food and drink venues and a focus on own brands to help differentiate them from other types of retailers. Over the longer term this should help revive the department store sector and make it more relevant for today’s consumer.”
– Tamara Sender Ceron, Senior Fashion Analyst
This Report answers the following key questions:
How is the role of department stores changing? Who are the winners and losers in the department store sector? What are the main growth opportunities for department stores?