Department Store Industry

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.

307,131 thoughts on “Department Store Industry

  1. leather sofa and loveseat set
    Buying a Leather Pull Out Couch

    If you live in smaller spaces, a pull out couch is an attractive and practical choice. These couches come with a built-in mattress and have two functions which makes them ideal for guest rooms as well as small living spaces.

  2. selleckchem
    Here, we report two cases of advanced non-small cell lung cancer (NSCLC) in patients with negative driver genes who received ICI treatment for less than two years but continued to benefit from their administration after drug withdrawal. The first patient was diagnosed with left lung adenocarcinoma, cT1cN3M1c, stage IVb, and after four cycles achieved a completed response (CR). After 10 cycles of camrelizumab

  3. TP-0903 mouse
    At comparison, surgical treatment in patients with rhinogenic contact points exhibited significantly better values at short-term, medium-term, and long term follow up. Endoscopic surgery should be proposed as the choice method in approaching the symptomatic patient.A first-person account of some victims of the virus, the author puts faces and circumstances to the tragedy of the Covid-19 pandemic. Told from a chaplain’

  4. selleck compound
    ot affect any outcomes.

    Both drugs are potent modifiers of fear memory formation; however, there is considerable divergence in their targeting of different memory types which, overall, could support the use of CBD as an alternative to SSRIs for treating PTSD in females, but not males. A limitation of the study was that it compared data from experiments done at differ

  5. selleck chemicals llc
    Copyright © 2020 Léran, Noguero, Corratgé-Faillie, Boursiac, Brachet and Lacombe.The basic leucine zipper (bZIP) proteins compose a family of transcription factors (TFs), which play a crucial role in plant growth, development, and abiotic and biotic stress responses. However, no comprehensive analysis of bZIP family has been reported in pepper (Capsicum annuum L.). In this study, we identified and characterized

  6. bioethanol fire wall mounted
    A Wall Mounted Bioethanol Fire

    A wall mounted bioethanol fire is a fantastic way to add a stylish and safe function to your home. is easy to install and can be hung at eye level or higher for a focal point. It also does not require a chimney or ventilation.

    Before sett

  7. a2 zertifikat kaufen
    Goethe Institute Certificate

    Goethe Institute certificates are valued globally and can be used to apply for visa applications, professional recognition and admission to universities. The tests are based on an established curriculum and are closely aligned with the CEFR. This allows for full transparency and international

  8. b1 zertifikat kaufen ohne prüfung
    The B1 and B2 Certificates

    A B1 certificate is a crucial achievement for foreigners who are living in Germany. This certificate allows them to demonstrate their proficiency in speaking German independently.

    A b1 certification may be required fo

  9. deep leather couch
    Deep Leather Couch

    If you’re in search of a thick leather couch that’s both stylish and durable, this choice is worth looking into. It’s kiln dried wood, is made of eco-friendly materials and comes with high-density foam cushioning.

    You can also choose from a range of colors. Select the colors th

  10. Pinometostat
    OBJECTIVE The present prospective follow-up study aimed to evaluate the effects of KCNMB2 gene polymorphisms on ritodrine efficacy and adverse drug events (ADEs) in patients with preterm labor. METHODS A total of 163 preterm labor patients were included in this single-center study. Nine single nucleotide polymorphisms (SNPs) in the KCNMB2 gene (rs10936979, rs7624046, rs7429015, rs7625907, rs6443559, rs9839376, rs96374

  11. Selleck Telotristat Etiprate
    Socially stigmatized preexisting conditions (SSPECs), including alcohol use disorder (AUD), drug use disorder (DUD), and major psychiatric illness, may lead to provider minimization of patient symptoms and have been associated with negative outcomes. However, the impact of SSPECs on failure to rescue (FTR) has not been evaluated. We hypothesized that SSPEC patients would h

  12. see more
    Hippo pathway plays a crucial role as a regulator of organ size and tumorigenesis that negatively regulates cell growth and survival. Recently lots of evidences show that Hippo pathway plays a crucial role in glucose metabolic metabolism to regulate energy status with cell growth. However, the detailed mechanism is still unclear. Here we report that Yes-associated protein (YAP), the terminal effector of Hippo pathway, inte

  13. 휴게텔
    Under the hood, we’re using the open source Jekyll Relative Links plugin, which is activated by default for all builds. You’ve been ready to use relative hyperlinks when authoring Markdown on GitHub.com for a while. Now, these hyperlinks will proceed to work when printed through GitHub Pages. The contributing pointers will guideyou through the process of bettering pandas. Click the ellipsis button within the top proper, then click Create view-only hype

  14. best bedside cot
    Bedside Crib and Travel Cot

    Bedside cribs are a type of cot that can be attached to the side of your bed. They usually have one side that can be dropped down for easy access and some even have an incline that’s ideal for reflux babies.

    MFM tester Georgina said that the crib was simple to put together,

  15. selleck compound
    cies.The clouded leopard (Neofelis nebulosa) is classified as vulnerable on the International Union for the Conservation of Nature Red List of Threatened Species. However, diseases affecting this species across zoo populations are not well documented. The primary objective of this retrospective study was to identify common and significant causes of morbidity and mortality in captive-bred clouded leopards from E

  16. xmu-mp-1 inhibitor
    The aim of this study was to examine the appearance of miRNA let-7b-5p in B cells of ITP customers and investigate its potential association with B cell purpose in ITP. The results revealed that let-7b-5p in B cells had been elevated, and B cellular survival was enhanced in ITP patients weighed against healthier controls. BAFF

  17. Discover More Here
    African Grey Parrots Sale

    African grey parrots are fascinating companions. They are playful and intelligent. They are noisy, but they’re clever. Make sure that you can take their chirps and chatter before considering buying one.

    In the wild, the demand for these birds has a huge impact on their population. This has already driven them to close to extinction i

  18. replacement car fob key
    Mobile Car Key Fob Replacement Near Me

    Whether you’re running into the grocery store or taking your trunk full of children after a long day at the park, losing keys to your car can happen at the most inconvenient moments. With the proper tools, it’s possible t

  19. boarding up windows
    Boarding Up Services: Protect Your Property From the Elements

    After the event, building owners must do all they can to safeguard their structures. The hiring of a professional boarding company is a way to accomplish this.

    Board up services are specifically designed in securing windows, doors and other ent

  20. see more
    ncy and trainees’ safe struggle is essential to address the growth of independent operative skills in vascular surgery trainees.

    The post-implantation syndrome may occur shortly after endovascular aneurysm repair in patients treated for abdominal aortic aneurysm. Different types of biomaterials may provoke varying inflammatory responses in patients receiving different endografts. The purpo

  21. have a peek at this site
    Ghost Installations Review

    Ghost Installations is a group of highly skilled TASSA registered installers covering Hampshire, Dorset and West Sussex. They can install Ghost Immobilisers in only an hour at your office or home. You will also receive the certificate of completion, a user’s manual and a free Ghost 2 Emergency Card. They will also show you how to use the device to ensure you are ha

  22. click here
    Unique bone formation criteria were proved with TAC@MD-α-TOC by elevated serum and synovial fluid levels of osteocalcin and osteopontin mRNA and proteins expression. Chondrogenic differentiation abilities of TAC@MD-α-TOC were proved by increased serum and synovial fluid levels of SOX9 mRNA and protein expression.

    Overall, our designed bioconjugate micelles offered an excellent a

  23. thor311
    soal yang selanjutnya jadi pertanyaan penting serta harus dapat anda jawab ialah perihal kapan sebenarnya saat yang benar untuk stop slots online, terdapat beberapa yang gak memahami kapan saat yang dapat anda pakai buat memainkan permainan serta kapan jam yang mesti anda pakai untuk stop dari permainan. stop dari permainan betul-betul semestinya dapat mengerti dan mengerti terkait waktu yang pas. jika ada memang tidaklah memahami dan tak pahami ka

  24. Comprar a carta de condução do IMT
    Buy Category B Driving License

    A category B driving permit allows you to operate single vehicles with a weight of 26,001 pounds or more and transport small trailers. This includes vehicles like straight trucks, busses dump trucks, as well as delivery trucks. A class B

  25. Entinostat chemical structure
    03) and superotemporal (p=0.04) sectors. A higher proportion of significant negative rates was observed with Spectralis OCT both globally and in inferotemporal/superotemporal sectors (p<0.04). Permutation analyses confirmed the higher proportion of global and sectoral negative rates of change with Spectralis OCT (p<0.001).

    Changes in macular GCIPL were detec

  26. great green macaw
    Hyacinth Macaw Parrots For Sale

    Hyacinth macaws look stunningly beautiful and large bird species. Their bodies are uniformly colored cobalt with yellow accents around their lower beaks and the eyes.

    These birds are delightful to have and bond with humans very strongly. They aren’t suitable for everyone since they require a large investment of time and money.

  27. https://luxury-private-villas.com/
    Bali sudah lama menjadi lokasi cita-cita untuk beberapa pencarian ketenangan serta kemewahan. Salah satunya langkah terbaik guna nikmati daya tarik pulau ini yaitu dengan bermalam dalam suatu villa khusus. Bermalam di privat villa bukan sekedar menjajakan keamanan, dan juga pribadi yang tidak terpindahkan. Tiap-tiap pojok villa didesain guna membentuk pengalaman mengagumkan, dengan layanan terbaik yang dapat mem

  28. Double Glazing Window Repairs
    Blown Double Glazing Repairs Near Me

    Most double-glazed windows come with a warranty – usually 10 or 20 years old, however certain companies offer lifetime warranties. Verify yours, and get an original copy of any agreements you’ve signed.

    If you see condensation or misting on your windows, this

  29. replacement auto key fob
    Car Key Replacement Near Me

    In addition to locking and unlocking your vehicle, key fobs do other useful functions, like opening and closing your windows. It can also be expensive to replace them or reprogram them.

    If you lose your car keys, you should check your warranty or insurance policy, or your auto club membership coverage to see whether

  30. Double Glazing Repairs
    Double Glazing Doors Repairs

    Double glazing is a major investment that can add value to your property. However, it could also cause problems if it does not perform as it should.

    Minor issues like hinges that are loose can be resolved with lubrication. Condensation between the glass can usually be fixe

  31. selleck products
    Interestingly, CSF lipid dyshomeostasis differed depending on neuropathological staging and disease duration. These results, despite the limitation of being obtained in a small population, suggest extensive CSF lipid remodeling in PD, shedding new light on the deployment of CSF lipidomics as a promising tool to identify potential lipid markers as well as discriminatory lipid species between PD and other atypical pa

  32. signs and symptoms of add and ADHD in adults
    What Are ADHD Symptoms in Adults?

    Adults who believe they suffer from ADHD need to first receive a diagnostic evaluation by a mental health professional or health care professional. This evaluation should include an interview with the patient and a discussion of the symptoms.

    A person must ha

  33. buy Tucatinib
    Phytophthora blight, caused by Phytophthora capsici, is one of the most destructive diseases in the production of solanaceous and cucurbitaceous vegetable crops. Fluopicolide has been used to control the disease; however, reduced efficacy of the fungicide was observed in Georgia. P. capsici isolates were collected from commercial vegetable fields in Georgia in 2018 and 2019 to determine sensitivity to fluopic

  34. BMH-21 concentration
    Our results also demonstrate a significant gain in detecting homology for “twilight zone” protein sequences. The amino acid substitution metrics derived have many other potential applications, for annotations, protein design, mutagenesis design, and empirical potential derivation.

    High-frequency 10 kHz spinal cord stimulation (10 kHz-SCS) has achieved analgesia superior to traditional SCS in

  35. Comprar carta de condução categoria B
    Buy Category A Driving License

    Class A licenses allow drivers to drive single vehicles that have an GVWR of 26,001 pounds or more, as well as trucks and trailers. They are also able to drive class B and class C vehicles with the appropriate endorsements.

    The driver must have the permit for a learner for at lea

  36. websites
    CS2 Case Battles

    CS2 case battles are a brand new, competitive twist on the traditional experience of opening a case. These are offered by third party and offer players the chance to win game items at competitive prices.

    To master the battles of CS2, you need a combination of practical experience and resource use. To maximize your winni

  37. ETC-159
    Furthermore, the Bridge Healing Program is unique in its ability to reduce repeat ED visits, lengths of stay in the ED, and healthcare costs. Overall, the Bridge Healing Program exhibits many traits associated with successful Tiny Villages and has the potential to address a gap in our current healthcare system.Human noroviruses (HuNoVs) are the leading causative agents of epidemic and sporadic acute gastroenteritis that aff

  38. ap24534 inhibitor
    The compressibility proportion of lightweight clay is contrasted under different confining pressures and treating times. It really is discovered that the imperfect interface has actually salient effects from the efficient flexible modulus with the boost of volume small fraction of inclusions. The screen variables (α and β) vary with curing time and confining pressure. During the exact s

  39. dual fuel mini range cooker
    Range Dual Fuel Cookers

    Dual fuel range cookers provide a responsive heat control in the oven as well as a consistent heat on the cooktop. These kitchen appliances that are professional in design are perfect for home cooks who love to experiment with new recipes.

    They can also boost the value of your home as they are sought-after

  40. 25-Dihydroxyvitamin D3
    We further demonstrate that the mRNA cap structures of rabies and measles viruses are also modified by PCIF1 to m7Gpppm6Am This work identifies a function of PCIF1 and cap-proximal m6Am in attenuation of the host response to VSV infection that likely extends to other viruses.Despite the ubiquitous importance of cell contact guidance, the signal-inducing contact guidance of mammalian cells in an

  41. additional hints
    ADHD For Adults Test

    If you’re suffering from symptoms of ADHD, a health care professional can help. They can assist you in finding coping mechanisms to help you stay accountable and help you address the areas of your life that need improvement, such as maintaining jobs or enhancing relationships.

    Your sy

  42. Erastin
    Asymptomatic and symptomatic patients may transmit severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), but their clinical features and immune responses remain largely unclear. We aimed to characterise the clinical features and immune responses of asymptomatic and symptomatic patients infected with SARS-CoV-2.

    We collected clinical, laboratory and epidemiological records of p

  43. ratu 311
    apabila anda memiliki rencana buat bermain perjudian slots online karenanya selanjutnya anda harus pahami dan ketahui benar mengenai banyak hal yang benar-benar mesti anda ketahui dan simak dengan teliti sampai akhirnya anda dapat meraih kemenangan dengan lebih simpel. di dalam permainan apa saja benar-benar anda mesti belajar banyak pada mereka yang telah eksper lantaran karena itu anda dapat mendapatkan dan mendapati untung yang tinggi maka dari itu

  44. Buffy macaw bird for sale
    Chestnut Fronted Macaw

    Rainforest expeditions is an occasion to see the Chestnut-Fronted Macaw (Ara severa). These intelligent parrots need a lot of attention.

    They are diurnal birds that spend their days exploring and socializing. These vibrant parrots are characterized by the chestnut-colored patch on

  45. Comprar carta de condução da categoria C
    How to Buy the IMT Driving License in Portugal

    It is essential to know the procedure if you are a Portuguese resident and wish to exchange your driving license. The Institute of Mobility and Transport’s (IMT) website will guide you through this process.

    The first step in the process is a medical exam. It

  46. main game dibayar
    Ingin mengisi waktu luang dengan menghasilkan melalui berbagai aplikasi game penghasil uang. Simak game-game yang bisa menghasilkan sebagai sumber penghasilan tambahan Anda.

    Blackout Bingo:

    Game ini menyuguhkan bingo versi modern dengan sistem pertandingan head-to-head seru. Ketepatan mencari angka jadi kunci demi mengumpul

  47. selleck inhibitor
    The advantages of POC devices include low-cost, rapid results, and portability, which enables on-site testing anywhere across the globe. Here we aim to review the recent advances in novel POC technologies in detecting bacteria and viruses that led to a breakthrough in the modern healthcare industry.The gelatin microsphere (GM) provides an attractive option for tissue engineering due to its versatility, as reporte

  48. https://www.selleckchem.com/products/epz015666.html
    Testicular germ cell tumors are among the most common malignancies seen in children and young adults. Genomic studies have identified characteristic molecular profiles in testicular cancer, which are associated with histologic subtypes and may predict clinical behavior including treatment responses. Emerging molecular technologies analyzing tumor genomics, transcriptomics, and p

Leave a Reply

Your email address will not be published. Required fields are marked *