Letting Department Stores Be Department Stores
By George Anderson
If department stores want to reinvigorate their businesses, they need to stop trying to compete with discount stores on price and focus on customer service. That is the message that industry experts are delivering to department stores this holiday season.
Arnold Aronson, managing director of retail strategies, Kurt Salmon Associates, told Reuters, “If department stores want to at least stabilize and avoid this continuing loss of market share, they’re going to have to act more like customers expect department stores to act, rather than trying to take on the attributes of discounters,”
Moderator’s Comment: Is the traditional department
store model still viable (i.e. capable of growth) in the current retailing market?
There is a place for traditional department stores in
US retailing. It is a much smaller place, however, than it was in years past.
Anderson – Moderator]