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.

70,257 thoughts on “Department Store Industry”

  1. Certificate attestation is a standard procedure for verifying documents that people need for business, studies, and immigration needs. It refers to the process of ensuring that an issued certificate is genuine by endorsing it where it was issued from with a seal or handwritten endorsement, in order to make the certificate legally admissible in the intended country of use. As we shall see here, certificate attestation in Dubai is done following the same process as in the other emirates in UAE. In some cases, Dubai, being one of the most important global commerce centers, may need the certificates to be certified for legal or formal purposes. There are some basic recommendations to reduce the time for attestation in Dubai The best and easier way for the attestation is to go through professional attestation services.
    https://www.powerattestation.com/

  2. Certificate attestation in UAE plays a paramount role in the recognition of the certificates in the UAE. Whether you are in the position of transferring to Dubai for your working needs or to further your education, getting the certificates attested is a very important process that would enable you meet the legal requirements as well as achieve your aim.

  3. The procedure of document attestation, UAE has become important for the international use of documents. We assist you in attesting your documents in the UAE so that they can be accepted by UAE officials and even abroad. Our efficient team can execute the verification process from various state departments and embassies on your behalf.
    We guarantee 100% authentic certificate attestation in UAE at extremely competitive market pricing.
    https://www.powerattestation.com/

  4. Discover a world of ideas, inspiration, and insights at Tipfuly.blog Whether you’re here for the latest trends, practical tips, or thoughtful discussions, we offer a diverse range of topics designed to ignite your curiosity and elevate your thinking. From technology, social media and everything in between, our content is crafted with care to inform, and inspire. Join our community of passionate readers and stay connected with blogs that matter to you.
    chatgpt 5 release date

  5. While you were searching for a visa to prepare for your lengthy stay—which may involve advanced study, business or employment, temporary or extremely durable residency—you may have heard of the term “apostille.” On the other hand, maybe you’re planning your business expansions in the United Arab Emirates.
    https://www.powerattestation.com/

  6. UAE is undoubtedly the richest nation on earth. The nation has high standards for daily comforts and head of population payments. Numerous people have relocated to the UAE due to the promising opportunities. However, the country’s regulations demand apostille certificates in order to obtain a work, occupant, or instructional visa, among other things.
    https://www.powerattestation.com/

  7. The Apostille Services in Dubai is a required procedure to be used in such situations. The terms “document apostille” and “certificate apostille” essentially refer to the attestation of your certificates. Even though it has a brand name, there are a few levels of approval and verification before it is fully legitimated by the origin country and the UAE.
    https://www.powerattestation.com/

  8. Certificates must also have an Apostille confirmation in order to travel to specific countries that have signed The Hague Convention’s Apostille section. The meeting nation recognizes the certificates as authentic and legitimate by obtaining an apostille. The Apostille stamp is a square-shaped, computer-created stamp that the relevant authority conforms to the reverse of the relevant certificate. The stamp contains a unique identification number that you can verify online by country of origin. The relevant External Affairs Ministry of the meeting nation will consider the certificate to be credible and legitimate if it bears this stamp. A specific certificate no longer requires an additional apostille from any embassy or consulate once it has received the apostille stamp.
    https://www.powerattestation.com/

  9. The Apostille Services in UAE was developed in response to the demand for a system for certificate attestation that was more effective. Many nations felt the need to do away with the challenging procedure. Therefore, a treaty abolishing the protracted process was entered into in order to facilitate trade and travel between nations. The Hague Apostille Convention is the name of this pact.
    https://www.powerattestation.com/

  10. Members of this convention decided on a single authentication by the authority of the issuing country, which will be recognized by all of the member countries, in order to streamline the attestation process. Typically, the apostille is issued by that nation’s ministry of justice or ministry of foreign affairs. UAE, however, is still a party to the attestation process and is not a member of this agreement.
    https://www.powerattestation.com/

  11. We at Expert can help you with the transfer of certificates among convention members. For virtually every type of certificate from a member country, we offer apostille services. Our customers will have access to a complete support system with a reliable tracking system from the collection of their certificates until the delivery of the attested certificates
    https://www.powerattestation.com/

  12. Recently, the UAE government launched its Apostille service. This indicates that the US Embassy in Abu Dhabi has received permission from the UAE government to serve this function. Consult the embassy for instructions. The procedure is simple to follow. All necessary formalities can be completed online. The bank ought to be prepared to give us the check while the project is ongoing. believe that this will end the company’s current delays.
    https://www.powerattestation.com/

  13. A Kerala to Tamil Nadu tour takes you on a journey from Kerala’s serene backwaters, lush greenery, and tranquil beaches to Tamil Nadu’s vibrant temples, rich cultural heritage, and bustling cities. This tour offers a perfect blend of natural beauty, traditional art forms, and historical landmarks, making it an ideal choice for travelers seeking diverse experiences in South India.
    Kerala to tamil nadu tour

  14. After submitting an Apostille request, the first thing to do is to look up the fees that will be charged on the website of the relevant Embassy in the country where the certificate will be used. The certificate may be delivered by mail or picked up in person at the Consulate location along with the filing fee and an authentication declaration. Generally speaking, this is the situation. For more detailed information on others, it is best to get in touch with the relevant government agency. Keep in mind that the Apostille may need to be mailed back to the applicant and that the Consulate will frequently take a day or two to review and approve the request.
    https://www.powerattestation.com

  15. Birth certificates, education certificates, marriage certificates, and other documents must all be notarized by a notary public at the state level. Then, all original certificates and documents that have been translated and notarized must also have an Apostille attached to them. The State Department of Foreign Affairs receives the entire file after it has been sent to them, and they return it with the Apostilles already attached to the documents.
    https://www.powerattestation.com/

  16. When selecting a company to apostille certificates, one must be careful. The business shouldn’t be excessively expensive without sacrificing the quality of its services. There are businesses that advertise that they are the best at apostilles, but they are not. It is important to understand what is needed to obtain an apostille in your country. Power attestation services find solutions for All your problems.

  17. To use the official language of the relevant area, legal translation is required. As a result, it covers a wide range of texts. Identity documents, financial documents, official reports, transcripts, filed patents, precedents and judicial opinions, and witness statements are all examples. Legal translation is also used for immigration documents, litigation papers, articles of incorporation, wills, and trusts.
    https://www.powerattestation.com/

  18. “Legalese” is so close to being its own language. A person with legal training must understand it. With legal translators, the same thing occurs. Because a word-for-word translation may not accurately capture the original’s meaning, they must be familiar with the local legal system. Legal translators should be aware of any potential legal consequences before beginning a translation.
    https://www.powerattestation.com/

  19. It is crucial to be able to depend on a trustworthy outcome when someone hires a translation agency for a legal translation procedure. Incorrect translations may result in legal consequences. The rights of individuals may be directly impacted by badly translated documents.
    https://www.powerattestation.com/

  20. It is essential that law firms have confidence that the outcome is correct and true to the source material. The translation team needs to be knowledgeable about the nation’s economic and legal systems. Otherwise, false information might cause a significant misunderstanding. Working with translators who translate into their mother tongue is therefore always advised.
    https://www.powerattestation.com/

  21. When previously translated materials need to be updated, legal translation is also helpful. Two versions of the document, one with track changes and the other clean, are frequently sent to clients. The clients can then compare it with the original translation and see exactly what has changed
    https://www.powerattestation.com/

  22. The message of the original must be reliably and idiomatically translated. The language must remain at the same volume and cadence. Grammar mistakes shouldn’t be present in a legal translation.

    The difference can be used as a diplomatic strategy in relation to international treaties. Confusion in literary translation isn’t always considered a flaw. The “interpreting” of ambiguities must be avoided by translators in order to produce a superior legal translation.
    https://www.powerattestation.com/

  23. Family residence visa services are available to expatriate residents of the United Arab Emirates who wish to bring their spouse and young children. In conform to UAE government rules and regulations, there are specific procedures to follow in order to sponsor Family visas. Each type of visa will have a different set of documentation requirements and costs.
    https://www.powerattestation.com/

  24. Family residence Visas in Dubai and the UAE can be obtained either online or Offline. The documents and conditions required vary depending on whether you are sponsoring your children, your spouse, or your parents. Begin the application process for a family residence visa after gathering all the necessary documents. Apply for your permit and pay the required fee. Fees for UAE residence visas may vary depending on your application category.
    https://www.powerattestation.com/

  25. Expats and their employers can both sponsor family residence visas to the UAE. You must apply for a UAE Family Visa as a foreign resident within sixty days of receiving your own UAE Residence Visa. Power attestation services expert consultants will walk you through step-by-step procedures to expedite the approval of your dependent visa.
    https://www.powerattestation.com/

  26. Power attestation services will help with the entire process and handle obtaining the visa from beginning to end, taking care of the medical and Emirates ID typing.

    We advise all of our clients seeking family residence visa services to get in touch with our visa services team through the channels listed below to learn more about the information and costs. According to the type of visa for wife and children resident visa, parents resident visa, sponsoring a maid visa—many documents and steps must be taken, and a security deposit must be paid.
    https://www.powerattestation.com/

  28. In the UAE, the large number of foreign nationals living and working in the country attracts a lot of interest. Whether it is for business or just for leisure, there are many opportunities that beckon foreigners to visit Dubai and other Emirates. People from different parts of the world are attracted by its unique architecture, convenience and activities provided by the UAE. It also helps to explore their cultural differences and learn about their traditions, values, and lifestyles.
    https://www.powerattestation.com/

  30. In the amazing town of Dubai, UAE, there are many Filipino nationals who come here and settle down. They come here to work and live a decent life. In order to get a job in any country for foreigners, you have to do your Philippines certificate attestation in UAE country. The Philippines is one of the countries that has a difficult time getting their documents attested in Dubai. If a person wishes to work or travel to Dubai, their certificates must be attested by the UAE Embassy or consulate.
    https://www.powerattestation.com/

  31. In the amazing town of Dubai, UAE, there are many Filipino nationals who come here and settle down. They come here to work and live a decent life. In order to get a job in any country for foreigners, you have to do your Philippines certificate attestation in UAE country. The Philippines is one of the countries that has a difficult time getting their documents attested in Dubai. If a person wishes to work or travel to Dubai, their certificates must be attested by the UAE Embassy or consulate.
    https://www.powerattestation.com/

  32. Morse taper is a crucial conical connection system in dental implants, offering enhanced stability and long-term success. This self-locking design minimizes micro-movements and reduces bacterial infiltration, lowering the risk of complications like peri-implantitis. The Morse taper connection ensures even load distribution and a tight fit between the implant body and abutment, improving implant performance and durability. It is highly versatile, adaptable for patients missing a single tooth or needing full mouth restoration. Argon Dental provides advanced implant systems that allow patients to enjoy life with renewed confidence. For more information, contact us at 844-484-4998.

  33. The certification of a job seeker in the UAE or Dubai is necessary for seeking a visa to do business there. The Philippines certificate attestation in Dubai is one of the most important documents that every candidate has to show when applying for a job. For Filipinos, this document must be signed and verified by an official certifying body from both the Philippines and the UAE. The Philippines certificate attestation in UAE is a legal procedure for approving and authenticating documents to obtain a visa to enter the UAE. The process is important because it will allow you to enter the UAE as a legitimate traveler.
    https://www.powerattestation.com/

  34. Only authorised people are allowed to attest to the documents. The documents must be verified at various levels of government while being attested. A power attestation service in the UAE is a company of experienced and professional employees, so the process is simple for us. We help in the attestation of your Philippine certificates and documents in Dubai, UAE and make them valid and legal for use in Dubai.
    https://www.powerattestation.com/

  35. Getting a Philippines certificate attestation in Dubai is highly beneficial for Philippine nationals, especially for those who travel for the first time to the UAE. The Philippines’ documents attestation is important for many reasons. Getting a Philippine certificate attestation in the UAE will help them to apply for jobs, start a business, renew their passports and get permanent residency status in the UAE.
    https://www.powerattestation.com/

  37. In the case of students from the Philippines who have their certificates attested in the UAE, this formality will persuade the college or university that your educational certificates are genuine and you intend to pursue the course offered by this organization.
    https://www.powerattestation.com/

  38. When starting a new business in the UAE and requiring it to run smoothly, you must obtain a commercial attestation from the UAE government. The certificate will assist you in a variety of different ways, including starting a business, obtaining credit, and exporting to countries with which the Philippines has trade agreements. If you want to start your own business in the UAE or import items from the Philippines, you’ll need to apply for a business certificate attestation service to make the process easier.
    https://www.powerattestation.com/

  39. When attesting documents, it depends upon a lot of factors for which purpose and country they are going to be used in. So we need to understand the different types of requirements and the time spans involved in the attestation of a Philippine Certificate in Dubai, UAE. In the Philippines, certifications are attested by the Philippine government, but they have different rules and requirements. Normally, it will take about 15 to 25 days to finish, but time may vary depending on the above conditions being met.
    https://www.powerattestation.com/

  40. The charges or fees for Philippines certificate attestation in Dubai, UAE vary depending upon the type of service the customer selected and the place the documents were delivered and used. The Power Attestation Services Philippines certificate attestation price may be reasonable, and we offer free pick-up and drop-off service. Also, for the best deals on any other certificate attestation deals, contact our executives at 24/7.
    https://www.powerattestation.com/

  41. Trusted Jordan Certificate Attestation in UAE. POWER Documents Clearing offices produces professional Jordan certificate attestation in Dubai services. Document legalization of the Jordan certificates in the UAE. We attested all kinds of documents like personal documents (birth certificate, marriage certificate etc.), educational documents (Degree certificate, diploma certificate), and commercial documents.
    https://www.powerattestation.com/

  42. To get Jordan Certificate Attestation In UAE is one of the explanatory procedures to do it actually by venturing out to Jordan and complete it, yet we are in Dubai give a wide range of Jordan marriage, birth, degree, diploma Certificate attestation and legalization process without your quality in Dubai. We complete all strategies from Jordan and UAE and convey them to your home entryway with no delivery cost. Any kind of Jordan document to be used foreign is to be done attestation from a specific government office. We offer a complete range of stamping procedures with secure and safe attestation.
    https://www.powerattestation.com/

  43. Jordan certificate attestation in UAE cost depends entirely on the document you sent to us to get the attestation, and what kind of document attestation you need can come here and there depending on the cost, so please call our agents and get the correct cost for Jordan documents today. Of course we will offer you low cost and high quality services at every step.
    https://www.powerattestation.com/

  44. We handle all types of Jordan certificate attestation, legalization, and apostate services for all certificates issued by Jordan. The attestation method is different for all certificates. It varies depending on each document. Frequently your document should be verified by the nearby or state government and decided to be real and legitimate at the embassy of the objective country. Visualization is now and again called legalization. Certificate attestation is compulsory in any UAE embassy or division, without which the document isn’t considered valid.
    https://www.powerattestation.com/

  45. Our Premium Elite Models in Delhi seamlessly blend intellectual depth with refined elegance, creating experiences that shine in any professional environment. Whether they are sparking insightful conversations or exuding their natural poise, these models ensure that every interaction is not only memorable but also profoundly enriching.

  46. Awesome post. I am a regular visitor of your blog and appreciate you taking the time to maintain the nice site. Having read this I believed it was extremely informative. I appreciate you finding the time and energy to put this information together. Dubai Call Girls

Leave a Reply

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