1: INDUSTRY OVERVIEW: DEPARTMENT STORES
Department stores are large retail outlets that contain numerous individual shops, providing a wide range of product lines. Department stores most oftentimes consist of the following product categories:
1) Food
2) Cosmetics
3) Shoes and Accessories
4) Clothing
5) Interior Décor
6) Restaurants
Depending on the type of department store, department stores can offer a much wider range of products, including furniture, toys, electronics, books, etc.
Department stores come in a wide range of qualities and prices. There are such things as “high-end department stores”, which would focus purely on offering high-profile brands and products, while there are more mass-market targeting department stores, which are more likely to include a wider range of products, including practical household products.
That said, department stores will oftentimes try to cater to specific types of market segments. Particularly in the case of department stores in large cities, each department store will try to position itself differently from its direct and nearby competitors: some will try to cater to younger generations, while some will try to cater to the older generations. Some will try to cater to those interested in mainstream brands, while others will focus more on boutique, independent brands.
In the US, the department store industry includes approximately 20 companies operating roughly 3,500 stores. Major department stores in the US include: Sears, JCPenney, Macy’s, and Dillard’s. The industry earns an annual revenue of around $60 billion USD, 95% of which is earned by the largest 8 companies in the industry.
Some links about the industry:
http://en.wikipedia.org/wiki/Department_store
http://vspages.com/mall-vs-department-store-5580/
http://en.wikipedia.org/wiki/Shopping_mall
http://www.hoovers.com/industry/department-stores/1529-1.html
SPACE
2a: Implicit or Explicit?
From the department store owner’s standpoint, I would say that space is often sold explicitly, as they would charge the tenants per the size of the lease space. On the other hand, for stalls or booths set up in more open areas of the department store, space may be considered more implicit, as these spaces may be sold with less correlation to the exact size of the space.
2b: Ways of Splitting Space
Department stores have different types of spaces within the building that cater to their customers. The most typical type is the space split by fixed walls into one unit, and can usually be shut off or closed by a door or a shutter. These spaces cannot easily be adjusted in terms of size and layout without investment of significant time and money. These fixed spaces are generally leased out to a specific brand or company, such as Zara, Coach, Burberry, etc.
Then there is the semi-fixed space, such as the department store areas dedicated to selling cosmetics or shoes. These are oftentimes open areas in which a specific brand or merchandising line take up certain spaces, but are not divided up by physical walls or entryways. These areas are much more flexible in terms of changing the products being handled, given that one area can easily be changed to carry one brand/line from another; however, certain fixtures used for the displays will be fixed, and hence less flexible to change from a layout perspective.
There is also open space, in which temporary booths or stalls are built to sell a smaller line of products or services.
Different from other uses of store space is the use of space to purely focus on selling experiential services. For department stores, the focus generally remains on selling physical products. However, there are rare instances when space is allocated to selling services—one case being when department stores are attached to movie theaters.
2c: Creating Additional Revenue
One of the most standard ways for department stores to create additional revenue is by holding major seasonal sales. Because the product life cycle of clothes tends to be fairly short, many stores have inventory left over by the time they have to replace old products with new products. Having a highly publicized sale allows for these leftover products to be sold, be it at a lower price than its retail value.
One key to making people spend more money is to convince people to stay out shopping longer. A way to do this is to provide adequate opportunity for people to take a break from shopping and rest. Many department stores provide these venues by creating food courts—or in high-end places by providing patisseries or coffee shops at which people can recharge before going back to shop some more.
I also think one of the more creative ways in which department stores have used their space to create additional revenue is through creative use of its open space. Another approach department stores can use to bring people to their stores is to provide an additional incentive to go to that location. A common approach used to achieve this in the U.S. has been to create playgrounds in the open areas of the department stores. This service often incentivizes families to go to a department store, simply because it allows an opportunity for their children to play.
One more approach commonly used in Japanese department stores to bring more people to the site is to host certain “festivals” or special events in their open space. For example, department stores would often host weekly “mini fairs” on either the ground floor or the top floor, in which one area of the department store would be devoted to hosting jewelry/clothes/food from brands and shops that usually were not represented at the department store. The content would be changed frequently, and the department store would often be able to bring new people into the store by publicizing new, limited-time genres of offerings at their store.
2d: Potential New Ways of Splitting Space
There are several different directions department stores could potentially go in terms of splitting space differently. One direction would be to use space to create more personalized services to customers. Many of the spaces in department stores are “public”, but allocating a portion of space at high-end stores to allow for “private” space may allow for varying experiences for customers. Customers would be charged a premium for making use of these private spaces.
Another potential use may be to make the spaces more flexible. Instead of sticking with a model that leans heavily toward having “fixed” spaces, changing to a model in which it would be much simpler, cheaper, and quicker to change tenants may be an attractive approach for department stores that are pursuing a more trendy, up-to-date feel.
3: TIME
3a: Implicit or Explicit?
Department stores generally sell time implicitly: this is because the product being sold generally isn’t associated with a particular time limit. For example, it is not like a massage, where you are buying 60 minutes worth of service. The transaction is associated with a physical product unattached to time.
3c: Selling Time Explicitly
Time is currently being sold explicitly at certain department stores, although these cases are generally not a reflection of its overall business model. For example, some department stores may include shops that offer time-explicit services. Some department stores have massage shops, which are time-based service sales.
As another example, some department stores in Japan have small football fields on their rooftops, which people can rent out on an hourly basis.
(http://www.futaba-sp.com/omiya/2010/03/post-23.html)
Some department stores also include game centers for children—some of these entertainment options include machines that run for a set period of time per game.
Department stores will often have restaurants on one of their floors. These restaurants can often choose to set time limits to each group of customers (ex. 2hr limit) to be able to take in more customers during peak times.
(http://www.mitokeisei.co.jp/shop/10_skygarden/11keizan.html)
3d: Creative Things to do with Time
There are a couple things that could be done creatively with time—some of which may already be being done to varying lengths at department stores. One might be to offer some sort of benefit if a certain amount of time is spent within the department store. For example, if a customer was to receive certain benefits if they stayed for 5 hours at a department store on an off-peak day, this could incentivize customers to spend more money during their wait time, and this could also help to improve the image of the department store by maintaining more customers.
Another thing they might potentially consider doing is to include shops that provide rental services. Some shops may already do tuxedo/dress rentals, which would be time-based; they could potentially take this further by doing time-based rentals of other high-end luxury clothes and accessories.
4a/b: Physical and Non-Physical Rate Fences
Below are several examples of physical rate fences (owner-tenant relationships are more likely to be involved with physical rate fences than the tenant-customer relationships)
- (Owner-tenant POV) Depending on the size of the space being rented, owners can choose to increase or decrease the rates
- (Owner-tenant POV) Certain areas of a department store are likely to be more popular/convenient; hence an owner can charge more depending on the location of the space within the store (http://www.ehow.com/facts_6313023_average-retail-lease_.html)
- (Tenant-customer POV) For services such as restaurants within the department store, tenants can set rates by charging differently between open areas and private rooms
In terms of non-physical rate fences, I would say that there are many opportunities to create rate fences, depending on the type of service/product the store sells. There are also several opportunities within the owner-tenant relationship:
- (Owner-tenant POV) Depending on the lease period, the owner can set different rates to charge the tenant
- (Owner-tenant POV) Depending on the credibility/attractiveness of the tenant, the owner can set different rates
- (Tenant-customer POV) Depending on the quality of the product, functionality of the product, or time/length of the service, rates can be set differently. There is an enormously wide range of examples of this in department stores. A Gap outlet, for example, may sell a tank top for $10, while a Burberry outlet would sell a similar styled tank top for $150. Similarly, a cell phone with 3G functionality may sell at a cell phone provider outlet at a certain price, while a phone with 4G functionality would sell at a much higher price.
4c: Creative Ways to Set Rate Fences
Some ways I can think of setting rate fences creatively is to perhaps offer more intangible services—rather than just the physical products. For example, an I Love Bangkok t-shirt may only cost $5 at the actual retail shop, but if the customer already knows what he/she wants, but doesn’t want to make the trip up 7 floors and 5 minutes of walking to get there, the store could potentially charge an extra $1 to have the t-shirt brought down to the concierge desk of the department store for a quick pick-up.
Are you experiencing issues while updating Comfast extender firmware or the extender just stop working after performing firmware update? If your answer to all these questions is a big yes, then first of all, wipe out those worry lines from your forehead.
Get the ultimate adult entertainment experience with Pune Escorts Service. Our exclusive escorts will provide you with the best companionship and pleasure. Enjoy a night out, dinner date, or a romantic evening with an amazing companion.
https://www.nehatondon.in
At Pune Escorts Service, we provide you with the best and most beautiful escorts in the city. We guarantee total discretion and excellent customer service. Let us help you find the perfect companion for your evening today.
https://www.puneescorts1.in
This is a well-written and informative article. Thanks for sharing!
build operate transfer model
Since its emergence, the worldcoronaviras has spread rapidly across the globe, leading to a worldwide pandemic. The virus has affected millions of people in different countries, causing significant health, social, and economic impacts. In addition to health impacts, the pandemic has disrupted global supply chains, led to widespread job losses, and caused significant economic downturns.
tyceratops is one of the most recognizable and beloved dinosaurs to have ever roamed the earth. This iconic herbivore is known for its large size, bony frill, and three horns on its face. Despite its popularity, there are still many interesting facts and details about Triceratops that remain unknown to the general public. This article aims to explore the life and times of Triceratops, shedding light on this fascinating dinosaur.
In today’s fast-paced and constantly evolving world, entrepreneurship has become an increasingly popular career choice. With the rise of e-commerce and the gig economy, more people are starting their own businesses and pursuing their passions. However, starting a business can be daunting, and many entrepreneurs struggle with finding the right tools and resources to succeed. This is where macbroo comes in.
BUAS88 is the largest and most trusted betting site in Indonesia.you can contact us via livechat, SMS or telephone. Buas88 Sitos Slot Gacor
You there, this is really good post here. Thanks for taking the time to post such valuable information. Quality content is what always gets the visitors coming. GLUCOTRUST REVIEW
PG Slot สร้างรายได้จากเกมพีจีสล็อต
หากเป็นเมื่อก่อน การสร้างรายได้จากการเล่นเกมสล็อตเป็นที่ยอมรับน้อยมากในสังคม
I think that thanks for the valuabe information and insights you have so provided here. alpine ice hack review
iTrustCapital never takes custody of your assets.itrutcapitul-logi|| We don’t borrow or lend against client assets or leverage client assets for profit and we don’t let our custody providers do it …Login & Account Information Username, Password, Banking, Mailing Address,itrutcapitul-logix|| Beneficiary, Email, 2FA. Asset Storage The security, custody, and insurance of assets.
I think that thanks for the valuabe information and insights you have so provided here. alpine ice hack review
Easy download youtube videos with link
In general, reputable dispensaries and online retailers may offer more reliable and safe options for purchasing weed carts,
https://carts-us.com/
Keep me logged in for up to 30 days. Forgot your password Robinhood Login|| Forgot your email address? Log In. or. Log in with passkeys. Not on Robinhood? Create an account. Enter your first and last name as they appear on your government ID. You’ll use this login to access Robinhood next time. First name. Last name. Robinhood has commission-free investing, and tools to help shape your financial future. Sign up and get your first stock free. Limitations and fees may ..
As you place your Netgear cameras, Login Arlo will increase the security of your house. For more information visit the official website that isNetgear arlo login
Kunjungi plafrom terbaru kami, punya tampilan yang lebih menarik,seru ,dan banyak bonus untuk anda.
Bonanza138
Wow, that was wonderful information. Such amazing data you are providing for the users. Also, check out our blog and get more information by subscribing to our newsletter. Read more about /jos4xxyuerw
what is crm software? is a type of software application that is designed to help businesses manage interactions with their customers and improve customer relationships. It typically includes features such as contact management, sales management, marketing automation, and customer service management, all aimed at centralizing customer data and facilitating communication between businesses and their customers.
Terima kasih! Jika mau lebih gamang, silahkan menggunakan aplikasi EVA untuk mempermudah program rekrutmen
Thank you so much for the information! If you want a more simple and easier method to your sistem recruitment, maybe consider using EVA-HR Software 🙂
Looking for reliable Housekeeping and Maintenance Services in Bangalore V2 Services offers comprehensive cleaning and maintenance solutions for homes and offices. We provide general cleaning, sweeping and mopping of floors, furniture and fixture maintenance, regular cleaning of windows and doors, deodorising and disinfecting of toilets, and more. Choose V2 Services for customised cleaning services and ensure a safe and clean space.
When it comes to showcasing your brand at an exhibition in Germany, your exhibition stand design is critical. It can be the difference between standing out from the competition and blending in with the crowd. A creative and attractive exhibition stand design in Germany can help you create a memorable brand experience that captures the attention of potential customers.
best CRM software for hotels provides significant benefits in enhancing guest satisfaction and operational efficiency. With hotel CRM software, hotels can manage guest information more effectively and easily, enabling them to provide better guest experiences.
such a great blog Looking for accounting information system for maximize your accounting need.
Maths lab equipment manufacturers provide math lab equipment all over the world
Positive site, where did u come up with the information on this posting? I’m pleased I discovered it though, ill be checking back soon to find out what additional posts you include
Turkey-Syria Earthquake
Maths lab equipment manufacturers provide math lab equipment all over the world
I’ve been reading all the articles related to 플레이포커머니상 for the past hour, but I don’t know why I saw this post now. It seems like very useful information.
Erectile Dysfunction is the pleasant Vidalista medication for the treatment of impotence issues which includes tadalafil as the lively ingredient. In the series, it increases the blood drift and relaxes the blood vessels and Tadalafil this drug helps men to get hard and Vidalista Tablets erections with their companions.
https://www.powpills.com/product/vidalista/
CTBAE offer an excellent range of Call Girls services. No matter what kind of girl you are looking for, there is something to suit your tastes. Enjoy a night out with any one of the beautiful Indian or Foreigner girls available.
Get the perfect companion for your night!
The meaning of life is to live fun then it is necessary to hang out with the best girl you can call me to you to tell private time book to get Gurgaon escorts service.
https://priyaray.in/
(visit to my website escortsinislamabad.info) You can enjoy sex services in Islamabad. So, if you are in Islamabad and want to experience different sex services, contact us. We are a famous escort agency providing the best sex service to our clients in Islamabad. Also, if you want to explore new places or if you want to spend quality time with girls, you can book escorts in Islamabad from our agency.
https://escortsinislamabad.info/
Deyaar Mar Casa in Dubai Maritime City
Setup.ampedwireless.com is the default web address for the Amped wireless extenders that allows users to do Amped setup with ease. It acts as an alternative to the default IP address of the Amped wireless extender.
The statement means that Work anniversary cards can be used to commemorate the occasion of an employee’s loyalty and dedication to their job. By sharing these cards with colleagues, it shows that each employee is appreciated for their individual contributions to the workplace. Work anniversary cards can be a thoughtful gesture that recognizes an employee’s hard work and dedication, which can help to boost morale and foster a positive work culture.
Razor Fence Screen is the leading company famous for providing the best quality Base Ball Fence Screen to the customers at an affordable price. Our products have been trusted by highly respected organizations. We’re leading provider of the innovative new products for our fence systems – it’s just one of the ways we meet customer needs.
nice post thanks for sharing
Slicing, frying, peeling, and cleaning brushes are all included in the 4-in-1 capabilities of the handheld electric vegetable cutter set. Vegetable cutter, one. 6 in 1 Multifunctional Handheld Vegetable Cutter Food Chopper Fruit Slicer!
I truly intriguing the manner in which you featured some vital focuses. Much appreciated without a doubt
From :- https://www.hyderabadbeauties.com
A2Z Web Booster is an (Small and Medium Enterprise) SME partner of Google, offering a comprehensive suite of digital marketing services for businesses. Their services range from website design and development to search engine optimization (SEO), content creation, social media management, pay–per–click advertising, email campaigns and more. As an official Google Partner Agency, A2Z Web Booster can offer their clients access to cutting edge tools such as Adwords Express and Analytics 360 Suite which provide data driven insights into the performance of their online campaigns.
HTML Links
SME Parter of Google
SME Parter of Google
Steve Harvey a flair for writing about a variety of topics, including drugs. He has written numerous articles on sleep disorders and treatments such as Modvigil. These include a thorough examination of its operation as well as the additional benefits they provide to users. Buy Raloxifene 60mg is the portal where you can get the medication.
Selamat datang di PLANET LIGA Agen SBOBET judi bola dimana sudah melayani banyak sekali member yang daftar judi pada kami. Bukan hanya memainkan judi bola saja di Planetliga, namun para pemain juga bisa memainkan judi slot secara terpercaya.
Blackheads and acne are skin conditions that affect women and teenagers rather frequently. Your facial appearance may suffer as a result of certain skin conditions, which can also make you appear uneasy. bimatoprost eyelash serum uk is the greatest cream for treating these skin issues, and you can purchase it at a reasonable price at Allmedsuk.com. The lotion not only eliminates the acne problem but also stops future flare-ups. On the website, the medication is inexpensively priced, and it is delivered within a short period of time.
Lack of academic guidance will no longer affect your Math Lab Answers as we have the industry’s best academic resources for solving multiple homework assignments almost effortlessly.
Take Online Class offers an access key to the solved math lab answers that help an average scorer to use easy strategies to solve complicated Math Lab homework in a short time.
If you’re planning to drive in the UK and your driving license is issued in a foreign language, you may need to get it translated. A driving license translation is a document that translates the information on your foreign driving license into English. This can be helpful for law enforcement and car rental companies to understand your driving history and qualifications. In this article, we’ll discuss the process of getting a driving license translation in the UK and why it’s important.
Thanks for sharing such an information with the help of this article, so glad to read more.
An online slot casino is a type of virtual gambling platform that offers a wide variety of slot machine games that can be played from the comfort of your own home. These casinos typically have a large selection of slot games with different themes, paylines, and features, as well as various bonus options to help enhance the gameplay experience.
herobola
http://herobola168.com