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The Department Store Isn’t Dead—It’s Evolving

While many opine that the department store format is nearing its end, there’s still plenty of room for optimism for this traditional model.

In this RETHINK Retail exclusive white paper, discover how department stores are evolving through the adoption of new store formats, rightsizing and omnichannel capabilities that better fit today’s modern consumer.

Download to get the scoop on:

  • Why department stores saw visits drop by 22.5% in Jan. 2022 compared to the same month in 2020, while indoor malls and overall apparel saw Yo2Y drops of only 9.1%, and 12.2%, respectively.
  • How Macy’s closed 34 stores in Q3 2020 and Q4 2021 yet saw a rise in the average number of visits per store.
  • The new department store formats that are attracting millennials, Gen Z and the middle.
  • Why high-end brands like Saks Fifth Avenue and Bloomingdale’s have been performing exceptionally well during Q3 and Q4 of 2021.
  • How Neighborhood Goods is shaking up the traditional department store model by fostering a refreshed culture built around product discovery and exciting experiences.
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While many opine that the department store format is nearing its end, there’s still plenty of room for optimism for this traditional model.

In this RETHINK Retail exclusive white paper, discover how department stores are evolving through the adoption of new store formats, rightsizing and omnichannel capabilities that better fit today’s modern consumer.

Download to get the scoop on:

  • Why department stores saw visits drop by 22.5% in Jan. 2022 compared to the same month in 2020, while indoor malls and overall apparel saw Yo2Y drops of only 9.1%, and 12.2%, respectively.
  • How Macy’s closed 34 stores in Q3 2020 and Q4 2021 yet saw a rise in the average number of visits per store.
  • The new department store formats that are attracting millennials, Gen Z and the middle.
  • Why high-end brands like Saks Fifth Avenue and Bloomingdale’s have been performing exceptionally well during Q3 and Q4 of 2021.
  • How Neighborhood Goods is shaking up the traditional department store model by fostering a refreshed culture built around product discovery and exciting experiences.
2022-RETHINK-Retail-Retail-Trends-Whitepaper-LP-Graphic-1024x1280

Download The Full Report

"*" indicates required fields

Download Consent*
Weekly Newsletter
This field is for validation purposes and should be left unchanged.

About the White Paper:

Contrary to popular belief, the department store is not dead—although unlikely to return to its former glory.

Many favorite stores are now undergoing a renaissance, adapting failing strategies with radically innovative solutions and rewriting their fate. With survival on the line, stores like Nordstrom and Macy’s are thinking disruptively and embracing creative initiatives to revive their brand’s value in the eyes of today’s consumers.

Placer.ai found that 2021 saw an increase of traffic to luxury oriented department leaders and those targeting the middle—discover why in this RETHINK Retail white paper.

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