Department stores, once the engines powering sales at malls across America, have lost steam. As our shopping patterns change and our demand for novelty accelerates, many of these retailers are in need of a jumpstart if they’re to compete.
In 2016, we counted the carnage with each quarterly financial statement, but it wasn’t all bad news. It seems adversity is a great impetus for creativity and a willingness to experiment. Department stores are definitely not giving up the fight. They’re looking to new assortments, unexpected collaborations, evolving formats and emerging consumers to help them evolve and emerge stronger.
Read more at Sourcing Journal.