Williamstown, MA -- (ReleaseWire) -- 05/10/2012 -- The global department store market continued its recovery in 2011, and is poised for further increase in the coming years. While this growth is driven by emerging markets, primarily China, key department store markets such as Europe and North America remain subdued, with Japan's oversaturated market in decline. Verdict forecasts that the market will grow by 21.7% between 2011 and 2015.
Scope of this Report
- Make informed investment decisions using department store expenditure forecasts to 2015 for seven defined regions.
- Benchmark your company's performance by accessing profiles of 12 department store operators including their global market shares.
- Glean how competitors have expanded internationally, via stores, online, or new retail formats and learn which is most suitable for your business.
- Understand why tourists are being targeted by department store operators and how they are increasing tourists' spend instore.
- Learn about Japan's shrinking department store market and how domestic players are investing in new retail formats to halt sales' declines.
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The department store market is forecast to expand by 21.7% between 2011 and 2015, with increases expected across all regions except Japan. Growth in the core markets of Europe and North America will be subdued between 2011 and 2015, with CAGRs of 1.3% and 1.6% respectively, due to weak economic environments and growing uncertainty.
As consumer sentiment in the US has become negative, with consumers unwilling to pay full price on goods, retailers have tried to appeal to these consumers by opening discount outlets. These allow the retailer to offload old stock and attract new customers; however it is important that the discount format complements traditional full-priced stores.
The Japanese market is mature, and its decline has been exacerbated by recent natural disasters, leading to a fall in tourism and reduced spending by domestic consumers. Further declines in spending through the department store channel are forecast for the next four years, resulting in Japan accounting for just 12.4% of the global market in 2015.
Reasons to Get this Report
- Which markets hold the most potential for department store retailers and should I invest in them? What countries are players expanding into?
- What can I learn from luxury stores on instore experience and what changes shall I make to customer service to stand out from competitors?
- How did department store operators such as Macy's, Sears, Kohl's, Nordstrom, JCPenney and Isetan Mitsukoshi perform last year?
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