U.S. Department Stores- Statistics & Facts

Department stores in the United States, such as Macy’s, Kohl’s, Nordstrom, and JC Penney, are large retail establishments that offer a wide range of products in several different departments including but not limited to:  apparel, accessories, home goods, electronics, cosmetics, and sporting goods . For over a decade, the department store industry in the United States has been struggling. From 2000 onwards, U.S. department store sales continue to contract with many department store locations being closed year after year. Growing competition from online retailers, changing shopping preferences, and the temporary closures prompted by the coronavirus (COVID-19) pandemic are among the factors that have contributed to the industry’s downward trend.

2020, the worst year for department stores?

In 2020, United States department stores reached the lowest sales in years. Estimates calculate that as of the end of the year, sales amounted to 110 billion U.S. dollars, a decrease of nearly 18 percent in comparison to 2019. Macy’s sales plummeted nearly by 30 percent, and the company generated a net loss of over three billion U.S. dollars. To cut costs, the retailer closed many of its stores and is opting for smaller establishments as fewer people go to stores and more shop online. Other department store chains were impacted even harder during 2020. Retailers such as JC Penney, Stein Mart, and Neiman Marcus closed over 500 stores together and filed for bankruptcy by the third quarter of the year.

Shifting department stores strategies

Consumer preference towards shopping at department stores is changing. According to a survey carried out shortly before the COVID-19 outbreak, 44 percent of respondents expressed their intention of buying less fashion apparel at department stores in the next five years. With an industry as hurt as this one, there must be a shift of strategies to halt the deterioration that has been haunting department stores over the last decade. Changing the store location from shopping centers to smaller branches or open-air malls, redesigning stores to work as showrooms, and with no doubt, creating a seamless omnichannel strategy, are some of the approaches department store retailers can and are undertaking to resurge. Other strategies include curating the product range, allowing click and collect, showcasing brands available exclusively online, and having a selection of second-hand items.

Key figures

The most important key figures provide you with a compact summary of the topic of "Department Stores in the U.S. " and take you straight to the corresponding statistics.

Leading companies

Store closures and bankruptcies

Consumer behavior

Interesting statistics

In the following 5 chapters, you will quickly find the 31 most important statistics relating to "Department Stores in the U.S. ".

Department stores in the U.S.

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U.S. Department Stores- Statistics & Facts

Department stores in the United States, such as Macy’s, Kohl’s, Nordstrom, and JC Penney, are large retail establishments that offer a wide range of products in several different departments including but not limited to:  apparel, accessories, home goods, electronics, cosmetics, and sporting goods . For over a decade, the department store industry in the United States has been struggling. From 2000 onwards, U.S. department store sales continue to contract with many department store locations being closed year after year. Growing competition from online retailers, changing shopping preferences, and the temporary closures prompted by the coronavirus (COVID-19) pandemic are among the factors that have contributed to the industry’s downward trend.

2020, the worst year for department stores?

In 2020, United States department stores reached the lowest sales in years. Estimates calculate that as of the end of the year, sales amounted to 110 billion U.S. dollars, a decrease of nearly 18 percent in comparison to 2019. Macy’s sales plummeted nearly by 30 percent, and the company generated a net loss of over three billion U.S. dollars. To cut costs, the retailer closed many of its stores and is opting for smaller establishments as fewer people go to stores and more shop online. Other department store chains were impacted even harder during 2020. Retailers such as JC Penney, Stein Mart, and Neiman Marcus closed over 500 stores together and filed for bankruptcy by the third quarter of the year.

Shifting department stores strategies

Consumer preference towards shopping at department stores is changing. According to a survey carried out shortly before the COVID-19 outbreak, 44 percent of respondents expressed their intention of buying less fashion apparel at department stores in the next five years. With an industry as hurt as this one, there must be a shift of strategies to halt the deterioration that has been haunting department stores over the last decade. Changing the store location from shopping centers to smaller branches or open-air malls, redesigning stores to work as showrooms, and with no doubt, creating a seamless omnichannel strategy, are some of the approaches department store retailers can and are undertaking to resurge. Other strategies include curating the product range, allowing click and collect, showcasing brands available exclusively online, and having a selection of second-hand items.

Interesting statistics

In the following 5 chapters, you will quickly find the 31 most important statistics relating to "Department Stores in the U.S. ".

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