by

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.

231,546 thoughts on “Department Store Industry”

  1. buy pte certificate , buy pte certificate online,buy pte certificate without exam,buy pte certificate online,pte certificate without exam,get pte certificate without exam,pte certificate,buy pte certificate without exam,can i buy pte certificate without exam,how to get pte certificate without exam,pte without exam,can i buy pte certificate without exam in australia,get pte certificates,buy pte certificate in australia,
    Buy PTE Certificate Without E

  2. https://copaamerica2024.org/

    That’s a small some of it. You also must make sure a person can bet in the right way and associated with right races as that is the only way you can keep strike rates high and protect a betting bank. You should continually endeavor to increase value in your bets. Habits a selection you feel is value do not simply take only acceptable price that gets here. Seek to improve it by the very best

  3. learn more
    a, strictly associated with lung size, is estimated by observed/expected lung to head ratio and observed/expected total fetal lung volume with prenatal ultrasound and fetal magnetic resonance imaging, respectively. What is New • A new, faster, more straightforward, and less operator-dependent tool to assess CDH severity could be the mediastinal shift angle calculation with fetal magnetic resonance imaging. • Postnatal cl

  4. selleck products
    We report that few graphene flakes embedded into polymer matrices can be mechanically stretched to relatively large deformation (>1%) in an efficient way by adopting a particular ladder-like morphology consisting of consecutive mono-, bi-, tri-, and four-layer graphene units. In this type of flake architecture, all of the layers adhere to the surrounding polymer inducing similar deformation on the individual g

  5. 4 seater leather recliner sofa uk
    Leather 4 Seater Corner Sofa

    The sofa is the centerpiece of any living space, so it’s important to make sure it’s perfect. A leather corner sofa is stylish and comfortable and blends seamlessly into contemporary living spaces.

    Heal’s leather corner sofa is

  6. pallet near me
    Why Paint on a Wooden Palette?

    A wooden palette has a smooth, lightweight surface and is extremely rigid. It also has a warm tone that helps painters to perceive colors accurately when painting.

    Use boiled linseed and an lint-free rag or towel to protect a wooden palette. Rub the oil on the surface of t

  8. Tofacitinib in vivo
    03, 0.80 ± 0.04, 0.70 ± 0.09, and 0.82 ± 0.04, respectively. Furthermore, our analysis shows that the fractal features have a significant effect on the predictive performance of MGMT methylation IDH mutations, 1p/19q co-deletion, and ATRX mutations. The performance of our prediction methods indicates the potential of correlating computed imaging features with LGG molecular mutations types and identifies candid

  9. https://www.selleckchem.com/products/cddo-im.html
    The COVID-19 pandemic forced consultation-liaison psychiatrists to adapt to unprecedented circumstances. The Academy of Consultation-Liaison Psychiatry (ACLP) recognized the need and opportunity to assess its response and convened a task force in mid-2020 to review the lessons learned from the initial experience of the COVID-19 pandemic.

    The a

  11. selleck kinase inhibitor
    CD4 count at the time of echocardiography was strongly correlated with LV GLS (r = .619, P < .001) and RV GLS (r = .606, P < .001).

    Biventricular and atrial functions are subclinically impaired in HIV-infected patients. ART regimen may also affect myocardial functions.

    Biventricular and atrial functions are subclinically impaired in HIV-infec

  12. https://switchreone.com/
    mengerjakan taruhan untuk permainan games slots pasti perlu buat mencermati beberapa perihal. masuk di dalam agen judi slots online buat mendapati beragam keuntungan besar. keberlangsungan serta kebebasan untuk taruhan bakal selalu dapat kamu peroleh. untuk beberapa umumnya seluruh ini jadi ketenteraman sebuah taruhan.

    ada banyak sekali bonus keuntungan yang sebenarnya ditawari sama agen sah

  14. Franz Bulldogge kaufen
    Buy Franz Bulldog

    Buy Franz Bulldog is a great companion for those living in small areas or who travel frequently. They only require moderate exercise and are able to live in small indoor spaces.

    Owners praised their playfulness as the most positive characteristic of their do

  15. selleck products
    Retroperitoneal gastrointestinal tumor is the rarest subtype among 3 subtypes of extragastrointestinal tumors, which are uncommon stromal tumors. We herein report a case of a 55-year-old man with retroperitoneal gastrointestinal tumor detected by magnetic resonance imaging and confirmed by postoperative histology and immunohistochemistry.We present the case of a 29-year-old male who presented to his General Practit

  16. gas certificate buckingham
    The Legal Requirement For Landlords To Perform A Yearly Gas Safety Check

    If you’re a landlord you have a legal obligation to make sure that gas home appliances, pipeline work and flues are preserved in a safe condition. This includes annual safety checks.

    Landlords can not move the respo

  17. ADHD hyperactivity symptoms in adults
    Severe ADHD Symptoms

    People with ADHD are able to focus their attention on things they find interesting or fun. They may also be prone to mood swings and low tolerance for frustration.

    Doctors will study the person’s background and family history, especially when they are children. They will look over school report cards and talk to parents.
    <b

  18. thor311
    Buat anda yang pengin masuk ke dunia taruhan judi online besar dunia, jadi sangatlah dianjurkan sekali untuk cari agen lokal yang kerja sama-sama dengan bandar luar negeri. Antara lainnya merupakan agen yang kerja sama-sama dengan bandar sbobet asia yang benar-benar telah populer jadi salah satunya bandar paling besar asal asia. Sementara player dan pecintanya ada dari banyak negara di dunia bukan hanya dari asia saja. Nach anda dapat mencari agen it

  19. PD184352
    Obesity is a major risk factor for SARS-CoV-2 infection and COVID-19 severity. The underlying basis of this association is likely complex in nature. #link# The host-cell receptor angiotensin converting enzyme 2 (ACE2) and the type II transmembrane serine protease (TMPRSS2) are important for viral cell entry. It is unclear whether obesity alters expression of Ace2 and Tmprss2 in the lower respiratory tract. Here,

  20. best fridge freezer
    Choosing the very best Fridge For Your Home

    Picking the very best fridge has to do with more than simply the best rate. The brand name you pick ought to also have the ideal functions for your home and deal with your budget plan.

    GE makes great full-sized fridge-freezers, and their compact variations are best for small areas.

  21. treatment adult adhd
    Treatment For Adult Addictive Disorders

    For a lot of adults suffering from ADHD, stimulant medications are the first therapeutic choice. In combination with psychosocial treatments they can help improve the majority of ADHD symptoms.

    Finding the appropriate dosage, schedule and medication is a process of trial an

  22. slot777
    Dalam dunia perjudian online, istilah “slot gacor” semakin populer di kalangan pemain. Istilah ini merujuk pada mesin slot yang dianggap memiliki peluang menang lebih tinggi dibandingkan dengan yang lain. Namun, apa sebenarnya slot gacor, dan bagaimana cara memanfaatkannya? Artikel ini akan membahas secara mendalam tentang slot gacor, memberikan wawasan positif, serta ti

  23. GW6471 price
    The difference between the genders’ suicide rate changed significantly at the onset of recession, as the rate for men increased and the rate for women decreased.

    The Danish social welfare model might have prevented social disintegration and suicide among unemployed, and suicide prevention programmes might have prevented deaths among unemployed and mentally ill individuals.

    <b

  24. read more
    Hepatocellular carcinoma (HCC) is a serious cancer which ranked the fourth in cancer-related death worldwide. Hence, more accurate diagnostic models are urgently needed to aid the early HCC diagnosis under clinical scenarios and thus improve HCC treatment and survival. Several conventional methods have been used for discriminating HCC from cirrhosis tissues in patients without HCC (CwoHCC). However, the recognition success

  25. read more
    Finally, we propose the direction for future works on MOF-based electrocatalysts. Copyright © 2019 American Chemical Society.In this short review, we draw parallels and stress differences between heart regeneration in mice and human, from a bioengineering perspective. As the prevailing dogma that the adult heart is completely post-mitotic is starting to change, there are multiple opportunities for augmenting the limited but

  27. second hand dual fuel range cookers
    Dual Fuel Range Cookers

    Dual fuel range cookers give quick heating control for the cooktop, as well as constant baking in the oven. They are a great choice for cooks who like exploring new recipes.

    Before you decide to buy a dual fuel range, take a look at your preferences

  28. leather couch and loveseat set
    How to Tell If a Leather Couch is Real Or Faux

    Due to the misinformation on price tags and descriptions of the product, it’s sometimes difficult to determine whether you’re buying a genuine leather couch. You should get close to the couch and look at it closely. Touch, smell and turn the cushion to examine the back.
    <

  29. Wedding photographers Baltimore Maryland
    When itinerant KO’d of the country, it is advisable to deglutition lonesome bottled H2O. This is specially of import in countries where the character of their rap water supply English hawthorn be confutative. It’s improve to peradventure salary a number More and be secure than hazard acquiring purge because of polluted exploit pee.

    Mob an superfluous cup of tea for muddy cloth

  30. Binomo withdrawal
    Online trading platforms, such as Binomo, have transformed the way individuals interact with financial markets. They deliver a gateway to trade various assets, including currencies, stocks, and raw materials, making the process more open to traders of all skill levels Binomo sign-in .

    of the main benefits of platforms like Binomo

  31. buy caluanie muelear oxidize canada
    Buy Caluanie Muelear Oxidize From Reputable Suppliers

    Caluanie muelear canada is a chemical compound with numerous industrial applications. It is important to adhere to all regulations when purchasing and using this compound. These tips will assist you in purchasing the correct caluanie muelear to Oxidize from trusted suppliers and adhere to

  32. dual fuel range cooker sale
    Dual Fuel Range Cooker Reviews

    Improve your kitchen by installing a dual fuel range cooker, which offers an incredibly responsive temperature control for the cooktop and precise heating in the oven. These models are designed for homeowners who value precise cooking and baking.

    <

  33. Selleck NSC 309132
    As teaching technology advances, medical education is increasingly using digital mediums and exploring instructional models such as the flipped classroom and blended learning courses, where the in-class taught sessions are more groups on content delivered before class. Early evidence suggests lectures and foundational material can be equally provided online, but we have low-quality research to be convinced. We

  34. CW069 ic50
    Combination therapy may enhance imipenem/cilastatin/relebactam’s (I/R) activity against Pseudomonas aeruginosa and suppress resistance development. Human-simulated unbound plasma concentrations of I/R at 1.25 g every 6 h (h), colistin at 360 mg daily, and amikacin at 25 mg/kg daily were reproduced alone and in combination against six imipenem-nonsusceptible P. aeruginosa isolates in an in vitro pharmacodynamic model over 2

  35. StreamRecorder Twitch tools
    In the vibrant world of Twitch, where streams come alive with great personalities and engaging content, one name stands out: AsianBunnyX. With a growing fanbase and a unique style, AsianBunnyX has captivated viewers and turned casual observers into dedicated followers. The intricacies of her streams often leave fans wanting more, whether it’s her gameplay skills, charming commentary, or the interactive conn

  36. uPVC Soffits And Fascias spalding
    Cost of Fascia and Soffits Replacement

    Soffits and fascia are vital components of roof overhangs protecting your home from water damage, rot, and pests. They’re also a great option to add a visual appeal to the exterior of your house.

    A roofing pro can repair or replace damaged or r

  37. bioethanol wall fire
    Bioethanol Wall Mounted Fireplace

    Unlike standard fireplaces, a bioethanol wall mounted fire does not need a flue or chimney. This makes them a much safer and more versatile heating option.

    Bioethanol fireplaces are also easy to run and maintain. They fe

  39. leather sofa and loveseat set
    Leather Sofas – A Classic, Timeless Addition to Your Home

    A leather sofa will always be an iconic and timeless addition to your home. It can add a touch elegance to a room.

    It is also tough, but it can be susceptible to stains and scratches. Genuine leather, whether ge

  40. selleck products
    An improved pretreatment approach of human breast tissue is demonstrated for subsequent analysis of seven parabens including methyl paraben (MPB), ethyl paraben (EPB), propyl paraben (PPB), butyl paraben (BPB), isopropyl paraben (iPPB), isobutyl paraben (iBPB), and benzyl paraben (BzPB). Specifically, a well-designed homogenization procedure, conjugated with an optimized fabric phase sorptive extraction (FPSE) pr

  41. slot gacor
    Dalam dunia permainan slot online, istilah “situs slot gacor” telah menjadi favorit di kalangan pemain. Banyak yang mencari platform dengan tingkat kemenangan tinggi dan fitur menarik untuk memberikan pengalaman bermain yang optimal. Artikel ini akan membahas apa itu situs slot gacor, keunggulannya, serta tips agar Anda dapat menikmati permainan secara maksimal.

    Apa Itu Situs Slot Gacor?

  42. ADHD and adults symptoms
    Symptoms of ADHD in Adults Females

    The symptoms of ADHD in females of adulthood are often misdiagnosed or missed. A proper diagnosis can improve your life both professionally and personally.

    The signs include forgetfulness, inability to stay organized as well as impulsive

  44. TG101348
    Interleukin (IL)-1 beta (IL-1β), IL-2, Interferon-gamma (IFN-γ), tumor necrosis factor-alpha (TNF-α) in the pleural fluid are valuable biomarkers in early diagnosis of Tuberculous Pleural Effusion (TPE). This study aimed to analyze the diagnostic values of some cytokines (IFN-γ, TNF-α, IL-1β, and IL-2) in pleural fluid for identifying TPE in Vietnam. We performed a cross-sectional study on tuberculosi

  45. leather sofa and loveseat set
    Give Your Living Room an Eco-Friendly Makeover With a Vegan Leather Couch

    Vegan leather couches are the perfect option to give your living space a fresh, green look. These couches offer the same features of traditional leather sofas and are a great addition to any living space.

    Vegan

  46. Apoptosis modulator
    Hospital floors are underappreciated reservoir for microbes; therefore, floor cleaning should warrant reduction of microbial load for decreasing risk of infection transmission and has to be aesthetically acceptable. It was aimed to study the impact of mechanized laundering of floor mops in reducing microbial load compared to manual washing.

    An interventional study was conduct

  47. read more
    Numerical simulation results demonstrate the validity of the proposed control and learning algorithm.In this work, a wide input/output range triple mode rectifier circuit operating at 13.56 MHz is implemented to power up medical implants. The proposed novel multi-mode rectifier circuit charges the load for an extended coupling range and eliminates the requirement of alignment magnets. The charging process is achieved in

  48. TASIN-30 solubility dmso
    In this paper, we present a real-time noise-robust direction of arrival (DOA) estimation technique using only the three built-in microphones of the modern Android-based smartphone. The proposed method eliminates the ‘front-back’ ambiguity caused by the symmetry of the two microphones reported previously and improves the performance of DOA estimation in noisy speech environments. Our method enhances the spa

  50. https://copaamerica2024.org/
    The principle of spread betting betting on over under corners is same as with possible goals. A corner is given a number of points. The spread betting company makes an assortment prediction towards the number of points and also the user decides if the result will be over or under the spread.

    From that starting point, you are developed in business

Leave a Reply

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