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.
thanks this is good blog. Yacine TV
Good information to share with us, I will always check on this Website:
World777 Betting ID
And Im running from a standard users account with strict limitations, which I think may be the limiting factor, but Im running the cmd as the system I am currently working on. slot gacor
I am really loving the theme/design of your web site. Do you ever run into any browser compatibility problems? A few of my blog readers have complained about my website not working correctly in Explorer but looks great in Chrome. Do you have any tips to help fix this issue? slot gacor
The Netgear routers can be accessed by browsing the Routerlogin.net web address. You need to enter this web address in the browser bar and a login window appears to you. Further, key in your default username and password to log in to it. Now, complete the procedure by following the on-screen instructions. For more details, connect with us!
Kubet là một nền tảng giải trí và cá cược trực tuyến hàng đầu, nổi bật với sự đa dạng và phong phú trong các trò chơi và dịch vụ cá cược. Được thiết kế với giao diện thân thiện và dễ sử dụng, Kubet mang đến trải nghiệm mượt mà và tiện lợi cho người dùng. Với hệ thống bảo mật tiên tiến và hỗ trợ khách hàng tận tâm, Kubet cam kết mang lại sự hài lòng và an toàn tuyệt đối cho mỗi giao dịch và cược của bạn. Hãy khám phá thế giới cá cược đầy hấp dẫn và những ưu đãi đặc biệt chỉ có tại Kubet.
Thông tin liên hệ :
Website : https://kkubet77.com/
Địa chỉ : 491/129 Huỳnh Văn Bánh, Phường 13, Phú Nhuận, Hồ Chí Minh, Việt Nam
SĐT : 0987657894
Kubet là một nền tảng giải trí trực tuyến hàng đầu, mang đến trải nghiệm đẳng cấp với đa dạng dịch vụ từ cá cược thể thao, trực tuyến đến xổ số. Tại Kubet, người dùng được tận hưởng không gian giải trí an toàn, minh bạch và chuyên nghiệp. Với đội ngũ hỗ trợ nhiệt tình và hệ thống bảo mật cao, Kubet cam kết đem lại sự hài lòng tuyệt đối cho khách hàng. Trải nghiệm Kubet để khám phá thế giới giải trí đỉnh cao ngay hôm nay!
Thông tin liên hệ :
Website : https://kkubet11.com/
Địa chỉ : 5 Nguyễn Tri Phương, Quán Thánh, Ba Đình, Hà Nội, Việt Nam
At Dial4Web, we understand the competitive nature of digital marketing. Our Black Hat SEO services are designed to give you an edge over your competitors by leveraging the latest and most impactful techniques. Partner with us to experience the swift transformation of your website’s ranking and watch as your online traffic surges. Choose us for Black Hat SEO services in Delhi and witness the difference expert intervention can make.
I am truly impressed. I don’t think I’ve ever met anyone as knowledgeable about this subject as you are. You’re incredibly well-informed and intelligent. You’ve written something that is not only easy to understand but also makes the topic fascinating for everyone. Really, you have an excellent blog here.
Prompt Engineering Course in Hyderabad
Your post really resonated with me, and I found myself nodding along as I read through it. I especially appreciated your idea and the way you presented it.
Thank you for taking the time to create such valuable content.
Visit us: Vashikaran Specialist Astrologer In Visakhapatnam | Black Magic Remedy Astrologers in Visakhapatnam
Spangle Steel prides itself on delivering top-notch products backed by exceptional customer service. Our team of experts works closely with clients from the initial consultation through to project completion, ensuring every detail is addressed. Whether you’re looking to optimize warehouse space or create additional office areas, we as modular mezzanine floor manufacturers provide a practical and cost-effective solution tailored to your specific needs.
At Uday Creations, we understand the diverse needs of our customers. Therefore, our range of paddle boats includes various sizes and styles to cater to families, couples, and individual enthusiasts. As experienced paddle boat manufacturers, we focus on innovative design and durability, ensuring each boat provides a safe and enjoyable experience for users.
I particularly appreciate the emphasis on thorough research and analysis. It’s true that law assignments demand a deep understanding of legal principles and a careful examination of relevant cases and statutes. I think the suggestion to use Help with Law Assignment will undoubtedly enhance the quality and credibility of the work.
Your post really resonated with me, and I found myself nodding along as I read through it. I especially appreciated your idea and the way you presented it.
Thank you for taking the time to create such valuable content.
Black Magic Specialist | Top Black Magic Remedy Astrologers in Bangalore
abahslot
Đến với 789WIN để tận hưởng những trò chơi tuyệt vời nhất.
Tìm kiếm niềm vui tại 789WIN với đa dạng trò chơi trực tuyến.
To register your TNT SIM you’ll need to follow a few straightforward steps. Begin by gathering the necessary documents, such as a valid ID. Then, visit the TNT SIM registration site, fill out the required information, and submit the form. Completing this process ensures that your SIM card remains active and compliant with regulatory requirements.
CWIN là nơi hội tụ những trò chơi thú vị nhất cho bạn.
CWIN đem lại cơ hội vui chơi đa dạng và phong phú.
Go789 nổi bật với các sản phẩm trò chơi trực tuyến hàng đầu. Sự nổi tiếng của Go789 đang thu hút sự quan tâm của nhiều cược thủ. Với sự ủng hộ từ khách hàng trung thành và người chơi mới, Go789 đang không ngừng phấn đấu để chiếm lĩnh vị trí dẫn đầu trong ngành cá cược.
Liên hệ: (+84) 912 345 678
Website: https://go789.uk/
Địa chỉ: 384 Lê Lai – Phường Đông Sơn – Thanh Hoá
Zipcode: 441570
#Go789 #Go789Club #Go789Uk #DoiThuongGo789 #CongGameGo789
Thank you again for all the knowledge you distribute,Good post. I was very interested in the article, it’s quite inspiring I should admit. I like visiting you site since I always come across interesting articles like this one.Great Job, I greatly appreciate that.Do Keep sharing! Regards, pressure washing companies near Gibsonia PA 15044 | near me
استمتع بأجواء منعشة في حديقتك أو مطعمك مع نظام تبريد الجلسات الخارجية من ضباب صحارى . نظام الضباب يحول الماء إلى رذاذ ناعم يخفض درجة الحرارة بشكل فعال ويحول مكانك الى عالم من الضباب صناعة إيطالية عالية الجودة وتركيب سهل
القي نظرة خفيفة على الموقع :
https://saharafog.sa/
Vin777 giúp bạn giải trí và thư giãn sau giờ làm việc.
Vin777 mang đến không gian giải trí đẳng cấp.
MKSport là nhà cái uy tín tổ chức các dịch vụ cá cược trực tuyến hợp pháp
Thanks For sharing this Superb article.I use this Article to show my assignment in college.it is useful For me Great Work. edenmart
I9BET nâng cấp và cải thiện để cung cấp trải nghiệm tuyệt vời nhất cho cộng đồng game thủ.
I9BET luôn nâng cao chất lượng dịch vụ để đáp ứng mong đợi của các game thủ.
Nice totosite totospace 안전놀이터 먹튀검증 보증업체 메이저사이트 토토사이트
TK88 đã có mặt từ năm 2012, là điểm đến giải trí số một tại Việt Nam.
TK88 ra đời từ năm 2012, mang lại dịch vụ giải trí trực tuyến hàng đầu tại Việt Nam.
Choose a job that you like and you won’t have to work all your life. KAMPUS88
WW88 là nhà cái cá cược trực tuyến an toàn, uy tín tại Việt Nam trong nhiều năm qua.
Nhà cái Five88 – Trang game trực tuyến nổi bật nhất tại Việt Nam, đã chính thức trở lại và mang đến nhiều điều thú vị cho cộng đồng game thủ. Với sự đa dạng trong nền tảng game, Five88 thu hút hàng triệu người chơi từ khắp mọi nơi. Người chơi có thể dễ dàng trải nghiệm các trò chơi hấp dẫn, từ các game bài cổ điển cho đến những trò chơi mới lạ, độc đáo.
8ON TV kênh phát sóng trực tiếp bóng đá hôm nay với đường truyền full HD tốc độ cao, bình luận hấp dẫn. Cập nhật link xem bóng đá trực tuyến 8ontv.net phát sóng tất cả các giải đấu đang được nhiều người quan tâm hiện nay.tv.net/
Tpplay is the go-to app for Wingo and Aviator. I’m all set after a quick registration.
RW88 là một trong những địa chỉ cá cược hàng đầu tại Việt Nam, được nhiều người chơi tin tưởng và yêu thích. Với giao diện thân thiện và dễ sử dụng, RW88 cung cấp đa dạng các trò chơi từ thể thao, đến xổ số, mang đến cho người chơi trải nghiệm giải trí đỉnh cao..#rw88
Visiting the Kanadikavu Sree Vishnumaya Kuttichathan Swamy Temple was a deeply spiritual experience. The serene atmosphere and the rich history of the temple create a unique sense of peace and devotion. The poojas performed here are truly powerful, and I felt an immense sense of relief and positivity after participating. This temple is a beacon of hope and faith for all devotees. Highly recommended for anyone seeking solace and divine blessings.
Vishnumaya Temple
RW88 là một trong những địa chỉ cá cược hàng đầu tại Việt Nam, được nhiều người chơi tin tưởng và yêu thích. Với giao diện thân thiện và dễ sử dụng, RW88 cung cấp đa dạng các trò chơi từ thể thao, đến xổ số, mang đến cho người chơi trải nghiệm giải trí đỉnh cao.#rw88 #linkrw88
Hitclub – Cổng game bài đổi thưởng online 2024: Chuyên phân phối các trò chơi chính hãng, độc quyền và mới lạ nhất. Truy cập Hitclub để khám phá ngay hôm nay!
trusted gacor game site
my website
jackpot maxwin yang gampang sekali untuk para pemain menangkan. 918kissauto
she has set up a state-of-the-art Aesthetic Laser Clinic in Karachi. สล็อตออนไลน์
or just a casual fling, JILI WALLET
This blog is the best contains a tonne of useful information. JOKER AUTO WALLET
can be easily accessed, JOKER WALLET
Dynamics CRM is available in both on-premise and cloud-based versions. Live22 auto
semua hanya ada di situs Bandar Slot Gacor yang paling popular yang dapat di mainkan di semua kalangan MEGA888 AUTO
The article, PG SLOT AUTO