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What does the future hold for Australian department stores?

Inside Retail

Australias department stores are at a crossroads. Competition has never been more fierce and while data from the Australian Bureau of Statistics showed an uptick in department-store sales in November, this is likely temporary with earlier months showing stagnation or decline. So how did we get here?

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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.

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NRF: 52% of Shoppers Celebrating Valentine’s Day, Spending a Combined $21.8 Billion

Retail TouchPoints

The other top shopping destinations include: Department stores ( 29% ); Discount stores ( 28% ); and A tie between local small businesses and specialty stores ( 17% each). Unsurprisingly, ecommerce will be the most popular destination for Valentine’s Day shopping, accounting for 39% of the total.

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Neiman Marcus, Saks Still Unable to Come to Terms on Takeover Deal

Retail TouchPoints

Saks currently operates 39 stores, while Neiman has 36 department stores, two Bergdorf Goodman stores and five Last Call discount stores. A merger of the two companies would give Neiman and Saks more clout with luxury suppliers and allow them to cut duplicated costs.

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Half of Brits shop for experience, not purchase, finds PPL PRS survey

A1 Retail

According to those surveyed, the worst stores for customer experience were toy stores (two percent), furniture (3 percent) and home stores (3%).

Shopping 102
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Ross Stores Plans 100 Openings in 2023 as it Pursues Goal of 3,500+ Stores

Retail TouchPoints

As part of the retailer’s plans to open 100 locations in 2023, Ross Stores opened 11 Ross Dress for Less and eight dd’s Discounts stores in 13 states during February and March. The 2023 additions will include 75 Ross and 25 dd’s Discounts locations.

Planning 264
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NRF: Electronics Will Drive Back-to-School Spending to Record $41.5 Billion

Retail TouchPoints

For all back-to-class shoppers, the top retail destinations are ecommerce, department stores and discount stores. Consumers are stretching their dollars by comparing prices, considering off-brand or store-brand items, and are more likely to shop at discount stores than last year.”