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.

404,008 thoughts on “Department Store Industry”

  3. selleckchem
    Approaches to and benefits from resistance training for non-compromised older adults are well known. Less is understood about resistance training with pre-frail older adults, and even less information is available on the practical approaches to delivery. Herein, we describe an approach in pre-frail females who undertook a multi-component exercise intervention, inclusive of high-intensity, free-w

  4. kup polskie prawo jazdy
    How to Buy a Polish Driving License

    A Polish driving license is required to take advantage of all the benefits Poland provides. If you’re staying in the country legally for more than 180 days and possess a driving license from a country with which Poland has an international agreement, you can replace your license with

  6. بازی انفجار
    Aliyah Bet is the Hebrew time period that refers back to the clandestine immigration of Jews to Palestine between 1920 and 1948, when Nice Britain controlled the realm. 30 dollars on a 6 or eight pays 35 while an odds bet of 25 dollars pays 35 dollars additionally including the flat bet. The chances are long, but the payoff could be massive. Murphy Kelly, Samantha. “Why Are Smartwatches So Ugly?” Mashable. Why so vigilant? Even when you are not

  7. https://lemonfrozen.com/
    Terdapat beberapa argumen yang membuat sejumlah orang ingin untuk memainkan permainan taruhan permainan online. Menjadi pemain anda harus belajar banyak dan cari info berbagai perihal yang lalu jadi argumen yang lantas membuat Anda tertarik pula memainkan permainan itu. Memainkan permainan apa saja seharusnya diikuti dengan sejumlah argumen hingga Selanjutnya Anda dapat memperoleh pelayanan terunggul dari argumen anda memainkan per

  8. thor 311
    Untuk mendaftarkan tentu tidaklah soal yang aneh buat Anda kerjakan. Namun demikian, perihal ini menjadi begitu aneh apabila Anda memastikan untuk kerjakan daftar di web judi online bisa dipercaya ini. Karenanya lantaran itu jadi perihal yang penting untuk Anda buat mengerti kalau soal ini tidaklah cara yang aneh buat Anda laksanakan. Terang saja, ini berlangsung karena Anda wajib melakukan registrasi waktu jalankan permainan ini.

    <

  9. ghế mát xa ninh bình
    Với những đàng đường nét tinh xảo đi kể từ sự mộc mạc tối giản của các loại ghế trị liệu mang đến đến vẻ căng bóng và hoa mỹ ở những loại cao cấp. Phải bảo rằng trên mỗi tên thương hiệu thì Washima là tên thương hiệu trước tiên biết cách sệt trưng hóa từng dòng sản phẩm ghế massage từng lúc đến ra mắt trên thị ngôi trường nước ta. luôn luôn chú ý lựa c

  10. سایت انفجار رایگان
    Additionally, remember to bet on greyhounds which have a historical past of working good races and are often in good form. Heirloom gravy: If not commonplace, there are nonetheless a superb quantity of individuals who’ve century-outdated lu of their freezers. Up next, an heirloom that requires a freezer. Up subsequent, an heirloom that ran a manufacturing facility. of Switzerland additionally has an heirloom aircraft, a 1930 Gipsy Moth h

  11. It is appropriate time to make some plans for the long run and it is time to be happy.
    I’ve read this put up and if I may I desire to recommend you some interesting things or advice.

    Maybe you could write subsequent articles referring to this article.
    I want to learn even more things about it!

    My blog Slotbom

  12. psychiatric assessment for family court
    How Much Does a Psychiatric Assessment Cost?

    A psychiatric examination can help determine the root cause of psychological health signs and conditions. These evaluations can be performed in both emergency and scheduled check outs.

    The cost of a psychiatr

  13. DOXinhibitor
    92% vs. 3.51%, p = 0.805). Laser use was associated with longer procedural (169 [109, 231] vs. 130 [87, 199], p < 0.0001) and fluoroscopy time (64 [40, 94] vs. 50 [31, 81], p = 0.003).

    In a contemporary, multicenter registry balloon uncrossable and balloon undilatable lesions represented 15.5% of all CTO PCIs. Laser was used in approximately one-fifth of these cases and was

  15. hoki311
    Tiap betaruh pastinya mengharapkan keuntungan banyak untuk tiap taruhan yang dilakukan. Kadang bermacam metode dijalankan jadi usaha untuk mendapat keuntungan banyak. Akan tetapi untuk mendapat beberapa keuntungan itu tidak sesederhana yang dipikirkan. Beberapa bettor harus mengerti perihal bagaimana cara yang betul buat mengelit rugi dalam soal penempatan taruhan judi online.

    Agar tak ada rugi dalam penempatan taruhan sudah pasti

  16. escort KL,
    Kuala Lumpur, a bustling metropolis known for its vibrant nightlife and rich cultural landscape, offers a unique experience for those seeking companionship. Within this dynamic city lies a realm of elite escort services, where both locals and travelers can indulge in luxurious and memorable encounters. Whether you are navigating the social scen

  17. squalane oil
    In the world of skincare, a growing number of consumers are seeking out products that deliver results without complicated additives. Russell Organics has established itself with its impressive collection of luxurious oils that offer exceptional benefits. Their offerings contain no synthetic ingredients, focusing solely on skin-nourishing properties.

    ________________________________________

  18. sunwin
    Now be aware of about these casinos from the internet and is bonuses they will pay out, more than likely you want to know learn how to make particular to get your bonus. Well, if excess weight and fat that bonus, you’re going to have to do some of playing. You no longer just sign up, get the bonus, and leave. So, you’ll need an incredible guide, including Casino Cash Cow guide to help guess what to p

  19. psychiatric assessment family court
    General Psychiatric Assessment

    A general psychiatric assessment is typically the primary step for clients in a medical ward of a general health center. These assessments are frequently carried out by junior students under supervision of an expert psychiatrist.

    The assessmen

  20. https://happinesstreat.com/
    penting untuk diakui saat bermain judi slots online uang asli oleh banyak bettor supaya dapat kerjakan betting dengan pas. janganlah sampai pasang taruhan tanpa ada mencermati rancangan konsep yang pas lantaran seksil apa saja kekeliruan saat kerjakan betting sering bakal berefek kepada rugi yang besar.

    jenis kekeliruan umum saat bermain slots online

    lalu, apa kekelir

  21. thor311
    untuk beberapa betaruh, permainan slots online tembak ikan itu betul – betul beri keuntungan. dengan permainan yang antik serta menarik, tempat ikan bisa jadi opsi permainan yang sangat memberi keuntungan. sejumlah kelebihan dari permainan slots tersebut. di bawah ini merupakan beberapa jenis keistimewaan dari permainan slots online tembak ikan yang penting dimengerti serta ditemui.

    permainan yang dahsyat

    slots onl

  22. سایت شرط بندی انفجار
    So, has Microsoft made a nasty $69 billion bet? As soon as a kind of Dungeons & Dragons for sports geeks, it is now massive business, with FanDuel and DraftKings, the business’s huge gamers (no pun meant), valued at properly over a $1 billion each. BET by 1985 began to diversify its programming, adding politically-oriented news packages, comedy showcases, speak exhibits and sports features. Twitter has taken down sports activities m

  23. Vestidos De Escaramuza
    La belleza y sofisticación de los vestidos de escaramuza es innegable. Estos trajes tradicionales no solo son una representación de la cultura y la historia, sino que también son un símbolo de elegancia y estilo. Desde sus diseños más sencillos hasta las propuestas más modernas, cada vestido cuenta una historia y realza la gracia de quienes los visten. En cada movimiento, los vestidos de escaramuza deslumbran y cautiv

  24. https://happinesstreat.com/
    slots online betul-betul menjadi salah satunya alternatif permainan yang saat ini dapat kita permainkan secara streaming secara langsung secara gampang serta ringkas. karena ada spek streaming secara langsung yang dapat kita pakai, jadi selanjutnya ini akan mempermudah kita buat dapat mendapati keuntungan dari permainan yang kita lakukan itu. kita bakal mendapati keringanan jika kita memanglah dapat main dengan efektif dan se

  25. GC376 chemical structure
    42; 95% CI (0.59, 3.41)], neither NMSC [RR = 1.44 (0.36, 5.76)] nor malignancies excluding NMSC [RR = 1.12 (0.40, 3.13)]. No statistically significant difference between the two groups for SAE [RR = 1.15 (0.90, 1.47)] and deaths [RR = 1.99 (0.75, 5.27)] was found.

    The adjunction of JAKi to MTX is not associated with an increased risk of malignancy when compared t

  26. psychiatric assessment for bipolar
    Psychiatrist Assessment Online

    An online psychiatric examination can help you get the medical diagnosis and treatment you require. It can also provide important details for your therapist or other psychological health professional.

    The assessment usually

  27. debet
    If fretting or constant that many will appear 8 times before all numbers have come out incredibly once, then, by checking all previous numbers will certainly cause that event to occur, foods high in protein more accurately choose which numbers to bet on, thereby reducing the probability to below 1/35 of hitting that no .. Since Roulette pays you 35 times the amount bet plus the original bet, this gives y

  28. psychiatric assessment online uk
    Psychiatrist Assessment Near Me

    A comprehensive psychiatric examination can validate the existence of psychological or behavioral conditions and assess the seriousness of symptoms. The group at NYC Psychiatric Associates offers in-office and virtual evaluations for adults and children.

    <br

  29. debet
    Despite this wide spread popularity, casino craps enthusiasts as a completely share a drawback. misleading information all about the game. A large amount of this misleading the main promoted aren’t the masses in the dark. You deserve to understand the truth, so keep reading and discover seven a person must understand in order to have the measurements and truth about craps.

    First of all, you’ve av

  30. vmat signals receptor
    TECHNIQUES utilizing administrative wellness information maintained by the Saskatchewan ministry of health and time-to-event analyses with multivariable frailty models, we tested for variations in health care usage (hospitalization, physician and professional visits, and prescription drug dispensations) as a function of discomfort condition among LTC residents after entry to an LTC.

  31. KL escort,
    Kuala Lumpur, a vibrant city known for its dynamic nightlife, luxury shopping, and diverse culinary scene, offers an enticing allure for those seeking companionship. As , the bustling streets come alive, creating the perfect backdrop for memorable encounters. For many, exploring the company of stunning and sophisticated women is an exciting way to enhance their experience in this cosmopolitan hub. Whether you are a traveler looking for a local g

  32. kup prawo jazdy w Polsce
    How to Buy a Category A Driving Licence

    There are a variety of driving licences. While the standard driving licence allows you to drive a standard vehicle, there are other kinds of licences.

    In New York, for example the class-E license is required to operat

  33. kup prawo jazdy kat a
    How to Buy a Polish Driving License

    If you’re a foreigner who lives in Poland and you’re in Poland, you might require a change of your driving license. This is a complicated procedure that requires expert assistance from a reputable law firm.

    The process can be time-consuming and costly. It involves submitting many documents

  34. https://x.com/Zuzia884039
    Aranżacja wnętrz to nie tylko kwestia estetyki, ale także sztuki tworzenia przestrzeni, która oddziałuje na nasze samopoczucie i inspiruje do działania. W dzisiejszym świecie, gdzie coraz więcej czasu spędzamy w domach, umiejętność efektownego urządzenia przestrzeni nabiera szczególnego znaczenia. Dlatego warto poświęcić chwilę na zastanowienie się, jak możemy zaaranżować nasze wnętrza tak, aby stały się nie tylko funkcjonalne

  35. escort KL,
    Kuala Lumpur, a vibrant city known for its stunning skyline and diverse culture, offers an array of experiences for both locals and tourists. Among its many attractions, the world of elite escort services stands out as a unique and alluring option for those seeking companionship and a taste of luxury. Whether you are looking for a night out on the town or a more

  36. Nur77 signal
    This paper proposes a fresh design to automatically diagnosing MCI (early MCI (EMCI) and belated MCI (LMCI)) and its own previous stages (in other words., considerable memory concern (SMC)) by combining low-rank self-calibrated practical brain companies and architectural brain networks for joint multi-task learning. Particularly, we initially develop a fresh functional mind sys

  38. psychiatric assessment for depression
    What to Anticipate from a Comprehensive Psychiatric Assessment

    Adult psychological assessments, likewise referred to as comprehensive psychological health assessments, function as a foundation for understanding mental disorder and finding efficient treatment options. Through detai

  39. micrornaarray
    Preoperative values were weighed against 1-year values. RESULTS Standardized response mean and effect dimensions values had been higher for forearm torque than for grip strength. Improvement in forearm torque and lifting strength had a moderate to strong correlation with change in PRWE. The correlation between hold power and PRWE was poor. CONCLUSIONS Forearm torque

  41. sneak a peek here
    These questions will be tackled in this article. But, as opposed to just criticizing the church who does try its best, this will propose solutions exactly how to to correct the drawback. If you are at all like me I hate to hear just bashing. So how did it get this far? I am aware the cliche answer furnished by every believer and this really is sin. Your right, but its more than that no?
    <

  42. kup prawo jazdy Polska
    Buy a Driving License Online

    Buy your driving license online from a five-star rated authentic driver license store. Order today and get your driver’s license in just five days with no hassle.

    Class D allows you to drive vehicles that are single-unit. Classes A and C are reserved for commercial drivers. Class M is for motorcycles. The class T is reser

  44. sb431542 inhibitor
    Hypoglycosylation is the hallmark of a group of unusual genetic diseases known as congenital problems of glycosylation (CDG). These conditions are caused by defects in glycan synthesis, processing, and accessory to proteins and lipids, thus modifying signaling functions and metabolic pathways. Defects in N-glycosylation and O-glycosylation

  45. KL escort,
    Whether you are in search of elite companion solutions KL or affordable KL escorts, it is vital to navigate this lively scene with care. Numerous of the premier KL escorts are connected with trusted Kuala Lumpur escort companies, guaranteeing that customers can select from a selection of stunning and expert escorts. For seeking a more customized experience, elite esc

  46. hoki311
    Perjudian online adalah satu diantaranya permainan yang paling dahsyat untuk dipermainkan seluruh golongan. Selainnya heboh, memberi keuntungan yang besar sekali. Mengenai type keuntungan ialah, keuntungan hasil dari kemenangan dan keuntungan yang didapat hasil dari beberapa bonus yang diberi oleh web-site judi online dapat dipercaya. Dari semuanya keuntungan ini, pastinya bisa mengganti status keuangan seorang.

    Bicara permasalahan b

  47. check here
    When you purchase a motorcycle, you not simply seek thrilling rides and an impression of freedom upon the road, but you also want to protect that expense. That’s where motorbike gap insurance comes into carry out. Unlike standard insurance policies that concentrate in making only the market value of your respective bike in the time associated with loss, gap insurance plan bridges the distance between what your own

  48. leo88vn.net
    Cổng game Leo88vnnet là một trong những cổng game đổi thưởng hàng đầu, đáp ứng mọi nhu cầu cá cược cho người chơi. Với dịch vụ hỗ trợ chuyên nghiệp, Leo88vnnet đã thu hút của cộng đồng người chơi cá cược.

    ## Giới thiệu về Leo88vnnet

    Leo88vnnet là nền tảng giải trí trực tuyến đẳng cấp, mang đến đa dạng các loại hình giải trí như:

    – **Trò chơi bài đổi thư

  49. sonidegibantagonist
    METHODS Case-control examples were drawn from 2 split first-grade cohorts (combined N = 4,047) in most town school utilizing different methods. In Cohort Sample 1, all consented young children (≤25th centile on level, weight, and/or mind circumference) entered the study along with a random test from all enrolled students. Cohort Sample 2 was draw

  50. hoki311
    Dalam usaha menggapai sejumlah keuntungan penempatan taruhan judi online tentu ada beberapa sisi penting yang sebaiknya dimengerti beberapa bettor. Dalam perihal tersebut jangan sempat lakukan pelbagai aksi atau kekeliruan dalam taruhan yang bakal menyebabkan rugi. Ketahui secara baik perihal prinsip yang benar buat taruhanj.

    Terkadang kekeliruan kekeliruan remeh dikerjakan oleh beberapa pemula yang menimbulkan persoalan untuk memper

Leave a Reply

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