The report provides an analysis of current and forecast market data of retail sales in different category groups in department stores retail channel across the globe.
The department store retailing market is predicted to reach USD 839 billion by 2018, fuelled by impetus from developing economies. Of all the segments, the cosmetics and toiletries category is predicted to increase the most over the next five years which will be led by growth in China, Brazil and India. Reducing footfalls, strong competition from ecommerce and mergers and acquisitions are rising among department store retailers. However, the department stores are also going online and tasting success. Moreover, to engage customers for a greater period of time, retailers are innovating by including concepts such as food service and entertainment in their stores.
This report, Global Department Store Retailing, 2013-2018: Market Dynamics, Retail Trends and Competitive Landscape provides a comprehensive view of the global department stores retail landscape, including current market sizes, and category forecasts till 2018; and highlights the world’s fastest growing markets and category groups.
The global department store market is expected to grow fuelled by the increased spending capacities of the emerging economies. The growth will be lead by China that may account for the largest share and record up to USD 49.5 million. China has extensive growth opportunities. However, it also faces challenge in rising labor costs, where the key players expects to lose out majority of their revenues and fall out of the market eventually. Furthermore, the reigning players have to differentiate their offers through increased promotion, greater use of private label ranges, innovative investments in the in-store environment, and brand exclusives to drive footfall and sales.
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Department store retailing, market research reports