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Top 5 Department Stores 2023

RIS News

RIS breaks out the Top 5 Department Stores from the full Top 100 list — a world that has had to continually evolve to adapt to the changing retail landscape.

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Amazon to test department stores in offline expansion

Inside Retail

Amazon.com is to open several department stores in its home US market to test the concept as it continues to build out its multichannel business model. Department stores’ share of the overall US market has fallen from 14.5 It is also testing automated, cashier-less convenience stores in several markets.

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The Department Store dilemma

Retail Focus

Unfortunately for many department stores, the pandemic has been a final blow in the battle with online retail, spiralling real estate costs and difficulty serving up physical retail that is consistently experiential, engaging and adaptable. So, what is to become of these extinct department stores?

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Historic New Zealand department store chain H&J Smith to close

Inside Retail

One of New Zealand’s oldest retailers, Southland department store chain H&J Smith, is to close its doors after 123 years. In a statement published on its website, H&J Smith confirmed the decision “to call time” on its department-store business, a decision that will result in the loss of 220 jobs.

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“Not surprised”: Experts react to Amazon’s reported department store plan

Inside Retail

On Friday, The Wall Street Journal reported that online retail giant Amazon is looking to open large bricks-and-mortar stores in the US to sell clothing, homewares, electronics and other products, much like a department store. And it would come at a time when some long-running department stores are closing up shop.

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Why department stores are thriving in Japan even as the US sector shrinks

Inside Retail

For once, department stores are leading a retail sales recovery instead of lagging it. Supermarkets (5,921 stores) gained 1.8 per cent but the big winners were department stores (190 of them) performing well above the average, with a 13.5 METI counted 190 department stores for its first quarter survey.

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How can department stores pivot ahead of a spending decline?

Inside Retail

The biggest swing occurred in department store spending, which saw a 14.3 Especially in department stores, where the consumer appetite to spend appears to have fallen so dramatically between November and December? When it comes to the big department stores, there needs to be a differentiation.