Department Stores - UK - April 2016
“Department stores have reinvented themselves. They have become destination stores for younger customers offering aspirational brands, complemented by great own brands. The best department stores recognise that a store is much more than somewhere to just buy products, it should be a leisure destination with a retail offering that is stimulating and inspiring. So it is hardly surprising that John Lewis and House of Fraser are outperforming and M&S is in decline.”
– Tamara Sender, Senior Fashion Analyst
This report answers the following questions:
- How have department stores performed over the last year?
- What are the main growth opportunities for department stores?
- How are department stores competing in a multichannel world?
In an increasingly competitive retail market there are many department stores that are outperforming. But sector growth is held back by the weakness of the largest company in our sector definition, M&S.
All retailing is becoming more demanding, but we think that the most successful in recent years – John Lewis and House of Fraser - provide a blueprint for successful stores in the future. They stand out for their great brands, complemented by strong own brands, combined with first-rate service in attractive, well maintained stores with plenty of places to take a break. But on top of that they have a slick online proposition which must be as compelling as the physical outlets.
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