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.

382,874 thoughts on “Department Store Industry”

  2. selleck chemical
    It is well-established that adults with polycystic ovary syndrome (PCOS) have increased prevalence of several cardiometabolic risk factors, including obesity, insulin resistance, type 2 diabetes mellitus and dyslipidemia. Accumulating data suggest that these risk factors are already present in adolescence in patients with PCOS. This has major implications for the management of this population, since

  3. wood stoves near me
    Why Choose Wood Burner Stoves?

    Recent negative press hasn’t stopped wood burner stoves from being an excellent option for many households. They are a self-contained source of heat that is able to remain on during power outages.

    Wood is thought to be carbon neutral since trees absorb

  4. hdac inhibitors
    Right here we present two situations of CML (persistent phase) with ophthalmologic manifestations as initial presentation, wanting to highlight this essential style of presentation and proposing recommendations for hematologists in view for the present literary works. Copyright © 2020 by S. Karger AG,

  5. QX77 order
    Hypercalcemia of malignancy (HCM) portends a very poor prognosis, and no established guidelines exist regarding its management. Most instances of HCM are due to local osteolysis or secretion of parathyroid hormone related-peptide, while less than 1% of all cases are due to ectopic secretion of parathyroid hormone.

    We present an unusual case of HCM due to proposed cosecretion of both p

  7. NPD4928 research buy
    An amendment to this paper has been published and can be accessed via a link at the top of the paper.Individual cells detach from cohesive ensembles during development and can inappropriately separate in disease. Although much is known about how cells separate from epithelia, it remains unclear how cells disperse from clusters lacking apical-basal polarity, a hallmark of advanced epithelial cancers. Here, using

  8. selleck chemicals
    SECONDARY OUTCOMES pain during movement, neck disability, range of motion, pressure pain threshold, temporal summation, conditioned pain modulation, depressive symptoms, pain catastrophizing, quality of life, analgesic intake, and global perceived effect at posttreatment (10 sessions). Pain intensity and global perceived effect will also be measured after 6 weeks randomization. DISCUSSION The findings of this

  9. general psychiatric assessment
    Psychiatric Assessment Psychiatrist

    A psychiatric evaluation is a mindful expedition of your providing signs and concerns in relation to any history of psychological health issue. The psychiatrist will take a total medical, social, and developmental history.

    They will likewise observe your look

  11. CC-92480 chemical structure
    Acute eosinophilic pneumonia (AEP) is a rare and potentially severe disorder, characterized by an acute febrile respiratory illness with diffuse pulmonary infiltrates, pleural effusions and an eosinophilic alveolitis identified on broncho-alveolar lavage or lung biopsy. The condition can be idiopathic, or induced by the inhalation of toxic substances, by infections or by medications. The condition tends

  12. https://www.selleckchem.com/products/bai1.html
    Participants in the education sessions were more likely to report daily use of traditional tobacco (20% versus 0%). Results suggest that dual use of SLT and cigarettes needs to be addressed, as does the use of SLT to circumvent public smoking rules. The role of traditional tobacco and its relationship to lower SLT use also warrants further investigation.The role of artificial intelligence

  13. this website
    In the subgroup analysis, such benefits of adjuvant CRT over CTx was observed only in patients with head tumor & vascular RM>0.5mm, but not in patients with body/tail tumor or vascular RM≤0.5mm. In the CRT group, radiation dose≥54Gy was significantly associated with better TTR and OS.

    Adjuvant CRT could improve TTR and OS compared to adjuvant CTx alone in patients with

  15. find more
    Functional connectivity is defined as the undirected association between two or more functional magnetic resonance imaging (fMRI) time series. Increasingly, subject-level functional connectivity data have been used to predict and classify clinical outcomes and subject attributes. We propose a single-index model wherein response variables and sparse functional connectivity network valued predictors are linked

  16. Antineoplastic and Immunosuppressive Antibiotics chemical
    just after it occurs. The latter is the domain of earthquake early warning, which we do not treat in detail here, although we include a short discussion in the machine learning section at the end.Cytocompatible bioactive surface treatments conferring antibacterial properties to osseointegrated dental implants are highly requested to prevent bacteria-related peri-implantitis

  17. Tiplaxtinin inhibitor
    SCLC with high FOXM1 expression (N = 30, 57.7%) was significantly correlated with advanced clinical stage, extrathoracic metastases, and decrease in overall survival (OS), compared with the low-FOXM1 group (7.90 vs. 12.46 months). Moreover, the high-FOXM1 group showed shorter progression-free survival after standard chemotherapy, compared with the low-FOXM1 group (3.90 vs. 8.69 months). Our collect

  20. DNA Repair inhibitor
    Ischemic injury leads to cell death and inflammatory responses after stroke. Microglia especially play a crucial role in this brain inflammation. Targeted temperature management (TTM) at 33 °C has shown neuroprotective effects against many acute ischemic injuries. However, it has also shown some adverse effects in preclinical studies. Therefore, we explored the neuroprotective effect of TTM at 36 °C in the isc

  21. best festivals for campervans
    Because the sun rises over open tracks and picturesque panoramas, the allure regarding the great outside beckons adventurers in order to explore the planet in style. There’s something truly specific about hitting the road in the campervan, where comfort fulfills the freedom to be able to roam. For all those who share this particular passion, campervan events offer the perfect opportunity to connect with

  22. this website
    BACKGROUND Deviations (DEVs) from resuscitation guidelines are associated with worse outcomes after adult in-hospital cardiac arrest (IHCA), but impact during pediatric IHCA is unknown. METHODS Retrospective cohort study of prospectively collected data from the American Heart Association’s Get With The Guidelines-Resuscitation registry. Children who had an index IHCA of ≥1 min from 2000 to 2014 were included. DEVs

  24. Köpa A1 och A2 Körkort Online
    Buy Our C Driving License Gothenburg

    You will need to pass a theoretical test – kunskapsprov and a dry run – arprov. You will likewise have to complete a threat training course – riskutbildning. Many driving schools use this course.

    For your new licence to be produced, you will have to pay a

  25. modern wood stove
    Wood Burning Stove – Warmth and Style in One

    The warmth of a wood-burning stove can make a house feel like a home. These time-tested heating devices are both efficient in energy and are more durable than electric fireplaces.

    Created by Danish company Scan, the Novo 24 is designed by Danish compa

  26. https://kinggame365.me/

    คาสิโนระบบออโต้ การเกิดขึ้นของคาสิโนออนไลน์ได้ระบุนิยามใหม่ของโลกที่การเดิมพันอย่างสมบูรณ์ คาสิโนอินเทรนด์ สิ่งที่กาลครั้งหนึ่งเคยเป็นงานที่ทำเวลาว่างที่จำกัดอยู่ ในตอนนี้สามารถเข้าถึงได้ทุกที่ที่ต้องการผ่านทางอินเทอร์เน็ต ด้วยการคลิกเพียงแค่ไม่จำนวนกี่ครั้ง ผู้เล่นสามารถเพลินกับเกมคาสิโนที่พวกเขาพอใจโดยไม่ต้องออกมาจากบ้านของตนอย่างสะดวกสบาย แต่ว่าทุกๆอย่างเริ่มเช่นไรมาร่วมย้อนกลับมาความจ

  27. buy Samuraciclib
    Using the EDS, we determined that of the 5,500 PLHIV ≥15 years on first-line ART at one facility, 4,233 (77%) had transitioned to optimized ARVs. Of the 1,267 still on legacy regimens, 459 (36%) were determined to be eligible and prioritized to switch. CONCLUSIONS This project illustrates how enhancements to the national HMIS can facilitate the use of routine patient-level data to monitor the transit

  28. 메이드복
    The Guide to the very best Adult Product Brand names for Quality and Reliability

    Intro

    The market intended for adult products offers exploded in recent years, with companies competing to offer you innovative, high-quality, and reliable items that cater to various preferences. However, not every bran

  30. köpa en taxilicens online utan tentor
    How to Buy a Taxi License Online Without Exams

    To get a taxi license, you require to pass the TLC Yellow Cab test and pay all required charges. Candidates must likewise pass an identity and criminal background check. In addition, they should go to a 24-hour taxi school course a

  31. https://www.selleckchem.com/products/as101.html
    Older adults undergoing total hip arthroplasty (THA) and total knee arthroplasty (TKA) experience significant challenges while navigating their homes after surgery and are at higher risk for falls and injuries. This study explored the specific home and community physical environment challenges faced by community-dwelling older adults while performing daily activities and actions taken t

  32. GNRH receptor
    Design organized analysis with meta-analysis. Information sources Medline, Embase, CINAHL, SCOPUS, Bing Scholar, and Cochrane Databases. Eligibility requirements English language randomized clinical tests of cannabinoids to treat persistent, non-cancer-related discomfort. Data removal and synthesis research high quality had been evaluated maki

  33. getting a psychiatric assessment
    Psychiatric Independent Medical Examination

    There are a number of reliable methods to engage readers and present a subject or essay. Positioning a concern, offering a short anecdote, using a psychological appeal or lively joke and providing interesting facts can all assist.

    An independent psy

  34. wood burning stoves near me
    5kW Wood Burning Stove

    This 5kW wood burning stove will meet your needs, whether you’re looking for cost-effective heating options or eco-friendly options. It is rated at an efficiency of 80% and reduces emissions to comply with current environmental standards.

    This DEFRA approved stove is exempt from Eco

  35. G418
    Acute kidney injury (AKI) was present in 42% of the patients; they had more often mesangial proliferation, interstitial inflammation, tubular atrophy, arteriosclerosis, podocyte villous hypertrophy, and higher chronicity score.

    Standardized grading of chronicity was a predictor of kidney survival and disease relapse and was related to AKI. Older patients with severe nephro

  36. wood burning stoves near me
    How to Properly Operate a Woodburning Stove

    Wood stoves are a great way to heat your home. They’re also inexpensive. However, the smoke they produce can be harmful to health. It is important to know how these appliances operate and how to use them safely.

    Modern stoves use secondary or catalytic

  37. Penis envy mushrooms near me
    Penis Envy Mushrooms for Sale: Just what You Need in order to Know

    Penis Jealousy mushrooms have become a single of the nearly all sought-after strains throughout the world of psychedelics. Known for their unique appearance and substantial potency, these mushrooms are frequently sold to individuals interested throughout exploring the profound emotio

  38. CCT128930 concentration
    The computer simulations corroborate the experimental results positively. Moreover, AHTN acted as a competitive inhibitor to weaken the esterase-like activity of HSA, leading to impaired function of HSA. Results suggest that interactions between AHTN and HSA may affect the normal structure and activities of the protein, this insight will be helpful to provide some basic information to further explore the p

  39. chk signal
    One-way ANOVA or nonparametric test (Kruskal-Wallis) had been requested intergroup reviews; intergroup contrast had been done in using of Bonferroni multiple-significance-test modification. Results There were substantially s for HOMA-β. Conclusions Our research revealed an increased LFC degree and prevalence of NAFLD in nT2DM than in PDM and that of NC groups, the rise

  40. m358
    In typically the world of on the web betting, finding a new platform which offers enjoyment, reliability, and potential for big wins can be difficult. M358 stands out as an extraordinary choice for equally newcomers and seasoned bettors alike. Having its user-friendly interface plus a wide array involving betting options, M358 has quickly come to be a favorite among enthusiasts. Whether a person are getting to grips with the m358 slot game

  42. click here
    To this end, we generated a CRISPR knock-in rat model of the rs6265 BDNF SNP to examine for the first time the influence of a common genetic polymorphism on graft survival, functional efficacy, and side-effect liability, comparing these parameters between wild-type (Val/Val) rats and those homozygous for the variant Met allele (Met/Met). Counter to our hypothesis, the current research indicates that Met/Met rats show

  43. Flux AI
    Unleash your creativity with Flux AI’s cutting-edge image generation tools. Discover the power of Flux Schnell, Flux Dev, and Flux Pro – ‘s suite of advanced AI-powered solutions for crafting stunning, high-quality visuals. Experience the future of image creation with Flux AI.

  44. selleckchem
    Identification of host genes essential for severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) infection may reveal novel therapeutic targets and inform our understanding of coronavirus disease 2019 (COVID-19) pathogenesis. Here we performed genome-wide CRISPR screens in Vero-E6 cells with SARS-CoV-2, Middle East respiratory syndrome CoV (MERS-CoV), bat CoV HKU5 expressing the SARS-CoV-1 spike, and vesicular stomatitis virus (VSV)

  45. kinggame365

    คาสิโนระบบออโต้ การเกิดขึ้นของคาสิโนออนไลน์ได้ระบุนิยามใหม่ของโลกที่การเดิมพันอย่างสมบูรณ์ คาสิโนอินเทรนด์ สิ่งที่คราวหนึ่งเคยเป็นงานที่ ่างที่จำกัดอยู่เฉพาะในสถานประกอบการบนบก ตอนนี้สามารถเข้าถึงได้ทุกที่ที่ต้องการผ่านทางอินเทอร์เน็ต ด้วยการคลิกเพียงแต่ไม่จำนวนกี่ครั้ง ผู้เล่นสามารถเพลิดเพลินเจริญใจกับเกมคาสิโนที่พวกเขาประทับใจโดยไม่ต้องออกมาจากบ้านของตัวเองอย่างสะดวกสบาย แต่ว่าทุกสิ่งทุกอย่างเริ่มเช่นไรมาร่วมย้

  46. selleck chemicals
    The robustness of the prepared samples is subsequently verified by their characterization by means of both high-resolution TEM and Raman spectroscopy measurements. Our approach is fully general and should find applications for a wide range of materials as well as of techniques beyond TEM, thus paving the way to the systematic large-area mass-production of cross-sectional specimens for structural and compositional studies.Protein-suppo

  47. modern wood stove
    Why a Wood Burning Stove Should Be Properly Sized and Installed

    Wood stoves are a great option to provide clean, economical heat for your home. However, a wood stove needs to be properly sized and installed for maximum efficiency.

    Be sure to shut and open the doors to your

  49. You really make it seem so easy with your presentation but
    I find this matter to be actually something that I think
    I would never understand. It seems too complex and very
    broad for me. I am looking forward for your next post, I’ll try to
    get the hang of it!

    Also visit my web site; Chat Gpt nederlands

Leave a Reply

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