Under stringent new rules, COVID-19 forced stores around the world to shut down for months and reopen recently. The lockdown duration has triggered an e-commerce boom, with the pandemic accelerating the change by around five years from physical stores. Although department stores are expected to decrease by more than 60%, in 2020, e-commerce is expected to rise by almost 20%.
The "Global Department Stores Retailing, 2017-2022", report, published by, provides analysis of current and forecast market data for department store retail sales globally.
Department stores sales are projected to reach US$614.9 billion growing at a CAGR of 5.3% from 2017-2022.
The channel recovery is attributed to improvement in the global economy and rising disposable incomes, encouraging discretionary spending and stimulating demand.
Additionally, increasing tourism and the ensuing rise in tourist expenditure, increasing investment on the omnichannel experience and product diversification and personalization are set to support sales through department stores over the next five years.
This report offer - Current department store market sizes and forecasts to 2022 - Market insights based on consumer trends and changing economic and demographic factors - Department store retail sales and fastest-growing markets for department stores - Category level retail sales and forecast growth rates globally - Competitive landscape covering market share of major department store and their sales and trading update analysis, recent key events.
Scope - Global department sales to reach US$614.9 billion in 2022 - Middle East and Africa set to grow the fastest, extending lead over Australasia - Retailers are adopting novel strategies to stay competitive - Retailers offer personalized experiences to boost sales - Rightsizing is the new norm in the department stores landscape - Departments stores lose share across every product category bar luggage & leather goods.
Global Luxury Fashion Market Information by type (Clothing, Footwear, Accessories and others), by distribution channel (monobrand stores, department stores, specialty stores, multi brand boutiques, airport, e-commerce and others), and by Region – Forecast to 2022
The global economic developments have led to drastic changes in the lifestyle of the masses.
The assessment published by Market Research Future (MRFR) asserts that the Global Luxury Fashion Market is anticipated to expand at a moderate pace over the forecast period.
The rising per capita income is expected to escalate purchasing power which is poised to support market growth over the next few years.
The key players competing in the global luxury fashion market are Louis Vuitton, Gucci, Hermès, Chanel, Cartier, Prada, Rolex, Burberry, Tiffany, Zara, Michael Kors, and Dolce & Gabbana.
In June 2019, Hennes & Mauritz AB (H & M), a Swedish multinational clothing-retail company, has collaborated with Dutch Brand Love Stories for making swimsuits for the summer season.
The Business Research Company published its Department Stores & Other General Merchandise Stores Global Market Report 2020 which provides strategists, marketers and senior management with the critical information they need to assess the global Department Stores & Other General Merchandise Stores market.
The report provides in-depth analysis of the impact of COVID-19 on the market, along with revised market numbers due to the effects of the coronavirus.The report covers the Department Stores & Other General Merchandise Stores market’s segments-1) By Type: Department Stores, Other General Merchandise Stores2) By Ownership: Retail Chain, Independent Retailer.
View Complete Report:https://www.thebusinessresearchcompany.com/report/department-stores-and-other-general-merchandise-stores-global-market-report-2020-30-covid-19-impact-and-recoveryDepartment Stores & Other General Merchandise Stores Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market.
The chapter also covers markets which have been positively affected by the pandemic.The global department stores & other general merchandise stores market is expected to decline from $1843.6 billion in 2019 to $1810 billion in 2020 at a compound annual growth rate (CAGR) of -1.9%.
The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it.