Try our corporate solution for free!
(212) 419-8286
hadley.ward@statista.com

World: department stores revenue 2020-2025

By 2025, department stores and other general merchandise stores were forecast to reach a revenue of 2.18 trillion U.S. dollars globally, 24 percent more than the value estimated for 2021.

The struggling industry of department stores

The restrictive measures such as lockdowns and the closure of non-essential businesses amid the coronavirus pandemic resulted in catastrophic outcomes for department stores. Many were forced to permanently close their stores, and some even filed for bankruptcy like J.C. Penney. Nonetheless, the industry is expected to recover from the COVID-19 impact as department stores and other general merchandise shops are adopting diverse technology besides e-commerce to enhance their supply chain efficiency and provide a more engaging experience with customers.

Use of Big Data in department stores

According to a survey conducted in 2019, 40 percent of retail organizations worldwide utilize big data technology to leverage their company’s operations. In department stores, big data can be integrated through the recommendation of engines, trend forecasting, and price optimization. Recommendation engines can be used to predict customers' future purchases based on historical purchasing decisions. In contrast, trend forecasting can be used to predict trends and forecast demand. Lastly, big data can be used to help companies achieve optimum price points, allowing them to provide discounts, promotions, and other pricing initiatives in a more strategic way.

Revenue of department stores and other general merchandise stores worldwide from 2020 to 2025

Exclusive Premium statistic

You need a Single Account for unlimited access.

  • Full access to 1m statistics

  • Incl. source references

  • Available to download in PNG, PDF, XLS format

Single Account

$39 $59 per month *
in the first 12 months
33% discount until May 31st
*Duration: 12 months, billed annually, single license

Access to this and all other statistics on 80,000 topics from

$468 / Year
$708 / Year

Show detailed source information?
Register for free
Already a member?
Log in
Sources

Release date

December 2020

Region

Worldwide

Survey time period

2020

Supplementary notes

* Forecast.
This Statista estimate is based on the 2020 values and the compound annual growth rate from 2021 to 2025 of 6%, which were provided by the source. An exponential development of the market was assumed.

Statista Accounts: Access All Statistics. Starting from $468 / Year
Basic Account
Get to know the platform

You only have access to basic statistics.
This statistic is not included in your account.

Single Account
The ideal entry-level account for individual users
  • Instant access to 1m statistics
  • Download in XLS, PDF & PNG format
  • Detailed references
$59 $39 / Month *
in the first 12 months
Corporate Account
Full access

Corporate solution including all features.

* Prices do not include sales tax.

Statistics on "Department stores in the U.S. "

Statista Accounts: Access All Statistics. Starting from $468 / Year
Learn more about how Statista can support your business.