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.
Kashmir, a heavenly abode nestled in the lap of the Himalayas, is a destination that leaves travelers in awe of its breathtaking beauty. While visiting this paradise on earth, hiring a car rental service becomes an essential part of exploring its hidden gems. Kashmir car rental offers an excellent opportunity to experience the region at your own pace and convenience.
One major advantage of opting for a car rental in Kashmir is the flexibility it brings to your itinerary. With a private vehicle at your disposal, you can plan your trip according to your preferences and make impromptu stops along the way. Whether it’s witnessing the mesmerizing sunset over Dal Lake or exploring remote Himalayan villages off-the-beaten-path, having control over your transportation allows you to create unforgettable memories and discover lesser-known treasures.
Moreover, Kashmir car rental provides comfort and convenience during your entire journey. The vehicles offered are well-maintained and equipped with modern amenities ensuring a smooth ride throughout rugged terrains. Additionally, professional drivers who have extensive knowledge about the region accompany you. Their expertise not only ensures safety but also serves as local guides who can share insightful information about landmarks, culture, and history that enriches each moment spent in this enchanting land.
Language learners can use ChatGPT to connect with native speakers and engage in language exchange. how to use chatgpt to learn a language
Lazer Epilasyon Cihazı , tıbbi ve kozmetik alanlarda kullanılan bir tür lazer teknolojisi tabanlı cihazdır. Genellikle istenmeyen tüyleri kalıcı olarak azaltmak veya yok etmek amacıyla kullanılır. Bu cihazlar, lazer ışığının belirli bir dalga boyu ve yoğunluğunu hedeflenen cilt bölgelerine odaklayarak tüy köklerini tahrip eder. İşte lazer epilasyon cihazının nasıl çalıştığını ve avantajlarını daha ayrıntılı bir şekilde açıklayan bir metin:
This is a great post, and I wanted to express my sincere appreciation for sharing such valuable insights. Your commitment to providing Assignment Help is truly commendable and much-needed in the academic community. As a student, I understand the challenges we often face, and having a reliable resource like your service is incredibly valuable. Your expertise and willingness to assist students shine through in this post, highlighting your dedication to their academic success. Keep up the excellent work, and I’ll definitely keep your assignment help service in mind for future needs. Thank you for your valuable contribution to the education sector!
Kesabaran adalah kunci menunggu bonus https://slot1000.matthewwilliamson.com/ putaran gratis! 🕒🎲
Ketika keberuntungan sedang memihak https://slot888.matthewwilliamson.com/, tidak ada yang bisa mengalahkan perasaan itu! 🌈💰
Setiap putaran adalah petualangan baru. Siapa yang tahu apa yang menunggu di https://slot99.matthewwilliamson.com/? 🌟🎮
Strategi hari ini: https://rajaslot.matthewwilliamson.com/ Bermain pintar, bertaruh bijak, menang besar! 🧠🎰
Tidak ada yang lebih memuaskan daripada suara kemenangan di https://slotgacorbanjirscatter.matthewwilliamson.com/. 🎉💵
Ketika gulungan berputar, semangat https://mpoplay.matthewwilliamson.com juga ikut berputar! 🔥🎲
Tantangan hari ini: Mengalahkan rekor pribadi dalam kemenangan https://mposlot.matthewwilliamson.com/! 💪💸
https://dewa-slot.matthewwilliamson.com/ jadi hiburan favorit di akhir pekan. Siapa lagi? 🙌🎰
Tinggal satu simbol lagi untuk kemenangan https://maxwin138.matthewwilliamson.com/! 🍀🎮
Menantikan putaran bonus yang besar di https://slot-bonus-100.matthewwilliamson.com/ ini! 🎰💰 #JackpotDreams
Jangan lewatkan kesempatan untuk memenangkan jackpot besar dengan bermain di https://pentaslot.matthewwilliamson.com/
Saatnya mencoba permainan slot https://toto88-id.matthewwilliamson.com/ dan merasakan kegembiraannya sendiri!
Sensasi adrenalin yang luar biasa bisa kamu dapatkan dengan bermain https://slot77.matthewwilliamson.com/!
Tingkatkan kesenanganmu dengan bermain https://slot138.matthewwilliamson.com/ di waktu luangmu.
Sekaranglah saat yang tepat untuk bergabung dan bermain https://slotasia.matthewwilliamson.com/!
Cobalah keberuntunganmu dengan bermain slot online https://bigwin138.matthewwilliamson.com/ dan menangkan hadiah fantastis!
Cobalah keberuntunganmu dengan bermain slot dan menangkan hadiah fantastis di https://3dbet-slot.matthewwilliamson.com/
Ayo main https://win138.matthewwilliamson.com/ dan temukan keberuntunganmu di dalamnya!
Rasakan sensasi menang besar dengan bermain slot https://gas138.matthewwilliamson.com/ sekarang!
https://panen77.matthewwilliamson.com/ adalah situs permainan slot online yang menyenangkan dan mengasyikkan.
Great post! Thanks for sharing
Attorney near me
https://srislawyer.com/family-law-attorney-near-me-edison-nj-family-law-attorney-near-me-edison-nj/
Many individuals, despite their intelligence, often struggle with saving money. This difficulty arises from a lack of understanding regarding the significance of acquiring money-saving knowledge and securing the best bargains. Furthermore, we have all new and knowledge related to has lily tomlin had plastic surgery? or fitnesss related update like does the infinity hoop work? you can find everything at one stop. hbomax.con/tvsigning!
high quality designer replica handbags of various brands Despite the fact that louis vuitton has manufactured a lot of duffle bags throughout the years, this one stands out. It first appeared in the Pre-Fall 2020 collection and has since become one of louis vuitton multi pochette most popular handbag launches! If you appreciate dependability, durability, and good aesthetics, you will fall in love with this bag right away. lv handbag outlet!
One of the top cloud-based ERP Systems, Microsoft Dynamics Business Central, is implemented by our team of Microsoft Dynamics 365 Business Central partners. We also have experience moving your currently installed Microsoft Dynamics ERP System, such as GP, NAV, or AXE, to the cloud. Our team of specialists has experience with the lift and shift migration technique. dynamics gp partner in uae!
A luxuriously pricey designer handbag is not something that every woman can afford. If you can’t afford to purchase authentic designer handbags, why not choose for reasonably priced imitation bags that seem exactly like their original product? Replica bags provide several benefits for people who like the finer things in life but do not have large budgets. Replica designer bags are imitations of practically every designer brand that closely resemble designer handbags but are made from less expensive materials, thus their lower cost. oh my handbags reviews!
Not every lady has the means to purchase an extravagantly expensive designer handbag. Why not choose for reasonably cost replica designer handbags that seem just like the real thing if you can’t afford to buy legitimate ones? People who enjoy the finest things in life but do not have vast budgets might profit from replica bags in a number of ways. The term “replica designer bags” refers to imitations of nearly all designer brands that closely resemble designer handbags but are constructed from less expensive materials, resulting in a lower price. gucci bag!
Lazer Epilasyon Cihazı , , tıbbi ve kozmetik alanlarda kullanılan bir tür lazer teknolojisi tabanlı cihazdır. Genellikle istenmeyen tüyleri kalıcı olarak azaltmak veya yok etmek amacıyla kullanılır. Bu cihazlar, lazer ışığının belirli bir dalga boyu ve yoğunluğunu hedeflenen cilt bölgelerine odaklayarak tüy köklerini tahrip eder. İşte lazer epilasyon cihazının nasıl çalıştığını ve avantajlarını daha ayrıntılı bir şekilde açıklayan bir metin:
ChatGPT is trained using a similar architecture but with a different fine-tuning process. It is fine-tuned on conversational data to make it more suitable for interactive and dynamic dialogues. What is AutoGPT and How To Use it?
Situs terbaik Perdana138 dijamin teraman dan terpercaya daftar gratis akun VVIP sekarang juga.
At the point when you have meant the game plan, the resulting stage is to partake supposedly with the call girls in lahore
This is a basic stage, as important to ensure that you are good with her and that you are getting anything that sounds reasonable.
Venus Consultancy is a top Top Recruitment Agency Michigan and employment agency in the USA.We can help to source the top candidates for our client’s company. Get in touch with us!
When dealing with skin diseases, finding the proper treatment can be challenging. Luckily, there are herbal supplements that can provide relief and promote healing. These Skin Disease Herbal Supplements are specially formulated to target skin issues such as acne, eczema, psoriasis, and more.
One of the best Skin Disease Herbal Supplements on the market is [Actinic Keratosis]. This powerful blend of natural ingredients works to soothe inflammation, reduce redness, and promote healthy skin cell regeneration. With regular use, [Granuloma Annulare] can help improve the appearance and texture of your skin, giving you the confidence you deserve.
Thanks for picking out the time to discuss this, I feel great about it and love studying more on this topic. It is extremely helpful for me. Thanks for such a valuable help again 슈퍼헐크토토
Sm66 Trang web chính thức của nhà cái Sm66. Chúng tôi tự hào cung cấp đường link dành cho việc đăng ký, đăng nhập cùng những giao dịch nạp và rút tiền an toàn, tiện lợi. Tại Sm66 mang đến một loạt các dịch vụ hấp dẫn bao gồm game bài, casino trực tuyến, slot game, xổ số, đá gà, và cả cá cược thể thao. #sm66
GG Site: https://sites.google.com/view/sm66pw/
Thanks for picking out the time to discuss this, I feel great about it and love studying more on this topic. It is extremely helpful for me. Thanks for such a valuable help again 레고주소
hyy guys this side Inderjeet and I am going to discuss about best platform to buy cryptocurrency in india
A cryptocurrency is a digital currency, which is an alternative form of payment created using encryption algorithms. The use of encryption technologies means that cryptocurrencies function both as a currency and as a virtual accounting system. Cryptocurrencies use encryption techniques to ensure that transactions are secure. And without the oversight of a regulative body or authority, cryptocurrencies use a decentralized system to record transactions. The first cryptocurrency was Bitcoin, which was founded in 2009 and remains the best known today. Much of the interest in cryptocurrencies is to trade for profit, with speculators at times driving prices skyward. Anyone can start buying and selling cryptocurrencies via their phone, computer or any device ..
That is very helpful for increasing my knowledge in this field. 레모나토토
This is a great article, Given such a great amount of information in it, These kind of articles keeps the clients enthusiasm for the site, and continue sharing more … 축구중계티비
PALLADIUM4D Daftar Situs Slot Gacor Terbaru Hari Ini Gampang Maxwin
A ‘Dan’ prompt in ChatGPT typically refers to a specific type of user input or query that is often used as an example or illustration in discussions about the capabilities and limitations of the model. The name ‘Dan’ is often chosen arbitrarily for such prompts. Who Uses ‘Dan’ Prompts in ChatGPT?
Grab your best and most affordable artificial intelligence assignment help from our professionals. 24*7 Availability| Plag-free content| Accurate Solutions.
Artificial Intelligence Assignment Help
Electronic parts refer to the various components that are used in the assembly and functioning of electronic devices and systems. These parts include resistors, capacitors, transistors, diodes, integrated circuits, connectors, switches, and many more.
電子部品 通販
https://www.furutaka-netsel.co.jp
Sm66 Trang web chính thức của nhà cái Sm66. Chúng tôi tự hào cung cấp đường link dành cho việc đăng ký, đăng nhập cùng những giao dịch nạp và rút tiền an toàn, tiện lợi. Tại Sm66 mang đến một loạt các dịch vụ hấp dẫn bao gồm game bài, casino trực tuyến, slot game, xổ số, đá gà, và cả cá cược thể thao. #sm66 #sm66pw #nhacaism66 #trangchusm66 #dangnhapsm66 #nhacaism66 #casinosm66 #cacuocsm66. GG Site: https://sites.google.com/view/sm66pw/
Pune escorts service provides ultimate pleasure with the hottest Pune call girls. Our Pune escorts agency is ready to fulfill your deepest desires. From intimate encounters to unforgettable companionship, our escorts will provide an unforgettable experience tailored specifically for you. Don’t miss the opportunity to indulge in pure bliss. Book now!
https://www.nehatondon.in
تمر محشي مكسرات
If you are looking for a healthy and delicious food experience, dates stuffed with nuts are the ideal choice
This is my first time i visit here and I found so many interesting stuff in your blog especially it’s discussion, thank you. daftar slot