Department stores face ‘uphill battle’

Endaba Group

Department stores are facing an ‘uphill battle’. After spending huge amounts on online efforts, creating off-price concepts and losing out to fierce competition, department stores have been unable to turn their declining sales around. Key categories like handbags have been lost to specialty retailers and off-price chains with the brands themselves opening stores that directly compete with department stores. However, this decline didn’t happen overnight; the market share of department stores has dropped from 60% to 25% over the past 20 years. How can department stores win their ‘uphill battle’?