Department Store, Mall Makeovers Luring Consumers Back. Department stores and malls are making a comeback and gaining market share for the first time in several decades.
Customer Growth Partners (CGP), a consulting retail research firm based in Connecticut, released a study noting that innovation coupled with the weakness of big-box chains like Walmart, played a role in the recent success of malls and department stores. Reinvention has been key. "Department stores from Macy's to Nordstrom, and mall operators from Macerich (NYSE: MAC) to Simon Property Group (NYSE: SPG), have used the recession not just to cut costs, but to reinvent themselves," said CGP president Craig Johnson. During the 2010 holiday season, department stores posted a fourth quarter sales increase for the first time since 2006.
When it release its financial results this month, Macy's is expected to reports its best performance since acquiring the May Company in 2005, according to CGP's report. Form 10-K. Top 500 - J.C. Penney maps a new path. Ron Johnson J.C.
Penney Co. Inc. CEO Ron Johnson today presented a four-year plan that he says will establish J.C. Penney as America’s favorite store. “For the retail store to win in the digital world it has to do things that can’t happen online on your iPhone or iPad,” he said this morning in a presentation to investors and media. JCPenney's Consumers Voice Opinions Regarding Sales. News Headlines. US News Online Retail Sales Come of Age, Make Same-Store Sales Debut CNBC.com | March 03, 2011 | 02:18 PM EST.
Department stores: Mad rush for market share. September 16, 2010|By Sandra M.
Jones, Tribune reporter The department store industry, coming off its worst year in three decades of market share decline, is mounting an all-out battle for the next generation of shoppers. After years of looking the other way as H&M, Forever 21, Zara and an ever-expanding array of online retailers captured the under-25 market, department stores are pouring money and effort into winning them back. The tactics range from convening online advisory panels of teenagers to establishing in-house fast-fashion lines to setting up self-service cosmetic stands. In the past, department stores mainly contended with other retailers muscling into their territory. "The financial crisis and the recession ushered in the biggest change in consumer behavior in 70 years, and we're not going back,'' said Nancy Koehn, professor and retail historian at Harvard Business School. How to Find the Best Location. A guide to scouting out a location for your food or retail business, sizing up demographics and getting the help you need Chances are, you've heard the term "location, location, location" more than a few times.
But if you're in the throes of creating a spectacular menu for your new restaurant or finding wholesalers for your first retail store, it might not be the first thing on your mind. It's time to put location at the top of your to-do list. If you're preparing to open a food or retail business with a storefront, putting your business in the proper location might be the single most important thing you do at startup. Of course you need a winning product, too, but how will anyone know about that product unless you get them through the door? Check Your Demographics Making these determinations can be as simple or as complex as you make it. "Do your due diligence," advises Michael Rodelle, director of real estate for the Papa Gino's Inc. Kohl’s edges jcpenney as the People’s Pick in the Harris Poll Customer Relationship Series.
NEW YORK , N.Y. - January 11, 2012 - While several department stores forfeited profit by deep holiday discounting, Kohl's won the hearts and mind of the customer with the highest overall Customer Relationship Score compared to other mid tier department stores.
Kohl's edges jcpenney on two of three Customer Relationship metrics - Emotional and Behavioral - while sharing the lead with jcpenney on the Rational dimension. These are some of the results of The Harris Poll of 2,237 adults surveyed online between December 5 and 12, 2011 by Harris Interactive. The newly released People's Pick award recognizes the strength of consumers' bonds with mid-tier department stores and reflects the customers' connections and future intentions. Looking at the three elements, the first, rational, takes into account satisfaction and the degree to which expectations are met while the emotional aspect is determined by how valued a customer feels and their overall level of trust for that department store. U.S. department stores in fight for market share. Revitalized J.C. Penney aims for middle class. By Cathryn Creno - May. 2, 2008 10:21 PM The Arizona Republic At JCPenney, women can buy sleek, conservative styles that are suitable for the office.
Teens can find colorful lingerie and distressed T-shirts made from recycled materials. At some of the company's newest stores, shoppers can pick up Dior lip gloss or a designer fragrance by Marc Jacobs at a Sephora cosmetics ministore near the registers. 113101-MILO-RETAILERS. Tapped-Out Consumers Hold Key to J.C. Penney Revival.