Rising Disposable Income Will Drive More Demand for Department Stores Retailing
The research report on Department Stores Retailing market based on in-depth market analysis and have been prepared with data gathered from industry experts. This report covers the market landscape and its growth prospects in the coming years. This report also includes the discussion of Value Chain Analysis, Pricing Analysis, Opportunity Analysis, and Product Life Cycle in this market. Then detail analysis for the market drive, challenge, and trend. The report showcase the current situation of the Department Stores Retailing Market and the possibility of growth in coming years.
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According to research report, the global department store retail market is expected to reach US$675.9 billion and grow at a CAGR of 5.4% during 2015–2020.
The department store is one the biggest store where you can get everything and every products have its own separate section. Even this concept was old but with change time and lifestyle this sector has created huge demand and they are used on daily base of life. This store contains the product from low price to high price, premium category. The department store USP is a lot of product and that too in one place.
The department stores majorly have an ancillary items and household textiles, small household items, furniture, electrical appliances and accessories. With the help digital technology, this product provide great user experience and satisfaction for consumers.
The growing disposable income of consumer every year and developing the standard of leaving has also created major demand for departmental stores. The rising purchasing power of the middle-class population, young working professionals, and the expansion of department stores are various factors.
The Key Findings in reports are as follow,
- Consumers are looking for more discount and offers. Savings are driving sales in off-price department stores.
- Clothing and footwear were the most preferred category by channel.
- Indonesia will grow the fastest during the forecast period, followed by India and Philippines
- The US market will continue to be the largest market in 2020.
Finally the Sales of off-price department stores are being sold in North America positively and in future it is expected to become more popular in Europe. In an effort to provide customers with seamless shopping experience, department stores retail retailers are developing a new innovative concept such as Virtual Reality, Increasing Reality and others.
The major players for Department Stores Retailing coverd in report are David Jones, Myer, Macy’s, Saks Fifth Avenue, Nordstrom, JC Penny, KOHL’S, Dillard’s, Hudson’s Bay Company, Falabella, Lojas Riachuelo and Liverpool.
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Posted by
Vivian Dsena
on Tuesday November 07 2017, 4:32 AM EDT.
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