The US will remain the largest market for department stores in 2020
The US department stores market recorded sales of US$156.8 billion in 2015, representing 30.2% of global department store sales. Increased competition and online retailing threatens department store sales in the country. Despite low growth of 0.6% in department stores retail sales during 2015–2020, the US will continue to be the largest market, ahead of China.
What does it mean?
Department stores need to invest in off-price formats, which will also help them in inventory clearance, to maintain sales. However, to retain status, they need to prudently discount luxury goods, which may otherwise affect brand image, and lead brands to withdraw their products from department stores.
Verdict Retail’s latest report Global Department Stores Retailing 2015-2020 provides a comprehensive view of the global department stores retail landscape, including current market sizes and category forecasts to 2020; and highlights the world’s fastest growing markets and category groups. The report includes details on market size and category forecasts for each region and countries, and features major retailers, key innovative retailers, and department store retail trends; Covers the 50 largest retail markets and includes 24 countries in Europe, 12 countries in Asia-Pacific, nine countries in the Americas, and five countries in the Middle East and Africa.
Price: $4,950 (Single User License)
Published: Nov 2016
Publisher: Verdict Retail
Report Format: electronic pdf