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.
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in English, Russian Вопросы выбора стратегии реваскуляризации у пациентов с симультанным атеросклеротическим поражением коронарных и брахиоцефальных артерий до сих пор не решены, так как отсутствуют рандомизированные исследования и имеется неопределенность в отечественных и зарубежных рекомендациях. Цель. Провести анализ отдаленных результатов хирургического лечения 391 пациента с сочетанным поражением коронарных и брах
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The results showed that wheelchair users intended to go on vacation but were less motivated to participate due to the lack of travel conditions. Wheelchair travelers argued that a companion was required for an enjoyable holiday that could meet their needs. In addition, the results revealed that the types of wheelchairs used by disabled passengers differ. The disabled stated that the wheelchairs they use in daily
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Influenza viruses have caused disease outbreaks in human societies for a long time. Influenza often has rapid onset and relatively short duration, both in the individual and in the population. The case fatality rate varies for different strains of the virus, as do the effects on total mortality. Outbreaks related to coronavirus infections have recently become a global concern but much less is known about the
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Previous research has indicated that variation in the proteome profile of longissimus lumborum (LL) and psoas major (PM) post-rigor influences meat quality attributes such as tenderness and color stability during retail display. Tandem mass tag (TMT) labeling is a chemical labeling approach using isobaric mass tags for accurate mass spectrometry-based quantification and identification of biological macromolecules. The obj
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coli compared to that of parental peptide 2, and the activity and specificity of peptide 13 were increased by 5.0 and 2.4 times, respectively. Additionally, peptide 13 showed low cytotoxicity and relatively desirable salt, serum, acid, alkaline and heat stability. In this study, peptide 13 specifically killed E. coli by causing cytoplasmic membrane rupture and cytosol leakage. In summary, these findings are
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We hope that in articulating these modeling assumptions and providing formal support for inclusive fitness maximization, we help bridge the gap between empiricists and theoreticians, which in some ways has been widening, demonstrating to mathematicians why biologists are content to use inclusive fitness, and offering one way to utilize inclusive fitness in general models of social behavior.Negative interspecific ma
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Our previous findings have identified vitronectin (VTN) as a potential biomarker for radiation pneumonitis (RP) through proteomics and molecular mechanism studies. In a recent study, we further explored associations of plasma level and single nucleotide polymorphisms of VTN with the risk of RP in patients with lung cancer receiving radiation therapy.
A total of 165 patients
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The patient had a Grade A delayed gastric emptying post-operation. He was discharged 35 days after the surgery and has been alive without recurrence on imaging for 11 months post-operation.An 81-year-old man was referred to our hospital. Upper gastrointestinal endoscopy revealed a type 2 tumor in the antrum of the stomach. The histopathological findings showed a moderately differentiated HER2-negative adenocar
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비아그라와 비아마켓은 현대 사회에서 성기능 개선에 대한 관심이 높아지면서 주목받고 있는 두 가지 주제입니다. 비아그라는 수십 년 동안 남성 성기능 장애의 치료제로 널리 사용되어 왔으며, 그 효과와 안전성이 입증된 약물로 많이 알려져 있습니다. 반면 비아마켓은 비아그라와 같은 의약품을 온라인으로 구입할 수 있는 플랫폼으로, 제약이 강한 전통적 유통 경로와는 다른 새로운 형태의 시장을 창출하고 있습니다.
하지만 비아마켓에는 가짜 제품이나 사기 위험이 상존하고 있어 소비자들이 주의해야 합니다. 후기를 통해 실제 이용자들의 경험을 공유하고, 정품을 구매하기 위한 방법을 알아보는 것이 중요합니다. 특히 비아센터와 같은 인증된 판매처를 통해 안전한 거래를 하는 것이 바람직합니다. 이처럼 비아그라와 비아마켓이
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The antibacterial activity assay exhibited that PaCSF resisted the growth of Serratia marcescens and Escherichia coli more effectively than SCSF did. The results implied that P. americana chitosan could be a potential raw material for food packaging, providing a new way to develop P. americana.Transforming growth factor β (TGF-β) signalling pathways are highly conserved across metazoa and play essential roles not onl
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8 ± 12.8 in nonlocking plates group. The difference was found to be statically significant (P value = 0.01). Elbow flexion/extension arc of motion at one year was116° ± 15° in locking plates group and113° ± 28° in nonlocking plates. The difference was not found to be statistically significant (P value = 0.17).
Both implants yield similar results, withlocking plates showing slightly b
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How to Properly Operate a Woodburning Stove
Wood stoves can provide an inexpensive and cozy way to heat your home. Smoke from wood stoves can be harmful to your health. It is important to know how these appliances work and to operate them properly.
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Histone variants regulate replication, transcription, DNA damage repair, and chromosome segregation. Though widely accepted as a paradigm, it has not been rigorously demonstrated that histone variants encode unique mechanical properties. Here, we present a new theoretical approach called minimal cylinder analysis that uses strain fluctuations to determine the Young’s modulus of nucleosomes from all-atom molecular dynamics si
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Furthermore, we identify a gene family, likely acting as a taxonomic marker for an unclassified species, that is significantly anti-correlated with S. aureus in infants and mothers. In gene content-based strain profiling, infant S. aureus strains are more similar to maternal strains.
This improved understanding of S. aureus colonization is an important first step toward the develop