Departmental Stores: A Global Outlook
San Jose, CA (PRWEB) September 3, 2008
Departmental stores, which have traditionally been a dominant sector of the retail industry, are confronting threats from counterparts such as malls, specialized retailers and supermarkets. Competitors are gradually encroaching the department store share through strategies such as lower prices and better product offerings. Faced with intense competition in the retailing industry, departmental stores are adopting innovative strategies to lure customers. By focusing on 'service' differentiator, departmental stores seek to recapture the lost glory and enhance product sales.
Departmental stores are also undertaking restructuring of operations and facilities by implementing changes in store design and integrating uniqueness in merchandising concepts. By offering premium products, and private label brands with high profit margins, departmental stores are targeting improved revenue generation. Consolidation is another strategy being adopted to strengthen logistics management, and for improving management of resources, financial and otherwise, in departmental stores.
With developed countries offering limited growth opportunities owing to intense competitive environment, departmental stores are foraying into developing regions such as India, China, Pakistan, Malaysia and Indonesia. Booming economies, rising consumer affluence, changing purchasing patterns, and relatively lower levels of competition are driving departmental stores to benefit from the vast growth potential of the untapped markets. However, growth in some regions is hampered by the lack of adequate infrastructure, and due to logistical hurdles.
The United States continues to be the leading market, with departmental stores offering a wide selection of goods including health and beauty aids, footwear, drugs, appliances, apparels, accessories, home furnishings, automotive equipment, sporting goods and many more. With domestic retail industry witnessing consumer preference for malls and supermarkets, departmental stores are on a restructuring mode through expanded product offerings, and integration of attractive options such as fancy shopping cars and Internet kiosks.
The report titled "Departmental Stores: A Global Outlook", published by Global Industry Analysts Inc, provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report enumerates recent mergers and acquisitions together with summarized global and regional market facts. Regional markets covered include the U.S., Japan, Europe, UK, Asia Pacific, Australia, China, Hong Kong, India, Indonesia, Thailand and South Korea, among others. Annotated with 29 information-rich tables presenting market data findings, and analytical research projections, the entire discussion contained in the global outlook series is designed to offer the reader a rudimentary coverage of departmental stores in the international space. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of 241 companies worldwide.
For more details about this research report, please visit http://www.strategyr.com/Departmental_Stores_Industry_Market_Report.asp.
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