Global Departmental Stores Seek to Reinvent with Spotlight on Service Differentiation and Customer Focus, According to New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global outlook on the Departmental Stores Industry. The retail industry today is dynamically changing in all dimensions. Departmental stores are keenly looking at a strong comeback through reformulation of strategies such as ‘service’ differentiation, premium branding, and online retailing, which are expected to boost sagging sales and profitability margins.

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Departmental Stores: A Global Outlook

San Jose, CA (PRWEB) February 01, 2012

Follow GIA on LinkedIn – Departmental Stores, which enjoyed a dominant role in the retailing sector during the previous decades, are all set to witness a dramatic turnaround. With increased threat from specialized retailers and supermarkets, which are gradually cannibalizing department store share, there is an urgent need to rethink and reinvent. Apart from the change in store design and operations, a distinct approach in merchandising concepts holds the key to success in this sector. Several radical elements such as end-uses, quality and purchasing pattern are proving to be useful in building a successful merchandising module. In a move to resist competitive pressure, department stores are focusing on heavy off-price promotions and offering a plethora of attractive consumables including sophisticated electronic gadgets, apparel, cosmetics and other luxury products. In addition, several stores are storing a wide assortment of high-margin private label brands for better sales pickup and higher profit margins. Many departmental stores have also inculcated the concept of internet kiosks, central checkout systems and fancy shopping carts to attract consumers and maintain sales growth.

Globally, in developed markets such as US and parts of Europe, heightened competition is forcing Departmental Stores to move upscale by stocking and selling a wide range of premium products for greater scalability and profitability. Moving upmarket enables department stores to avoid direct competition with mass-market channels such as ASDA, Carrefour and Tesco. On the other hand, departmental stores are also making an active foray into the densely populated and developing markets overseas. Opportunities abound in the vibrant and rapidly growing regions of Middle East, Southeast Asia, Europe, Latin America, Africa, India, Russia, Turkey and China. Mall developers are alluring luxury department stores in the US such as Barneys New York, Bloomingdale’s, Saks Fifth Avenue, and Lord & Taylor, to setup stores in such attractive international destinations. Some stores including Saks already have presence in the Middle East through licensing, while other stores such as Macy’s are in the process of identifying suitable opportunities.

The research report titled “Departmental Stores: A Global Outlook” announced 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 US, Japan, Europe, UK, Asia Pacific, Australia, China, Hong Kong, India, Indonesia, Thailand and South Korea, among others. Annotated with 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 companies worldwide.

For more details about this comprehensive industry report, please visit –
http://www.strategyr.com/Departmental_Stores_Industry_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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