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Your go-to source for news, anytime, anywhere! Insightful industry information from the textile, apparel & fashion world with our news app
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Mid-priced department stores to face tough times
20 Jan '06
1 min read
Its a difficult year-ahead for middle-priced department stores, as high energy prices coupled with a slowdown in the housing sector has slowed the consumer spend.
Such department stores will be fighting for a penny-conscious consumer whose wallet will be squeezed, analysts said.
To make matters worse Federated Department Stores Inc is offering competition in the form of a clearance sale, as it is re-launching and naming May Department Stores to Macy's.
Rosalind Wells, Chief Economist at the National Retail Federation (NRF) said that middle-tier department stores are the ones to face problems.
Customers get enticed by either discounts or exclusivity and fashion.
Whereas mid-tier department stores offer limited choice which cannot encourage customer to make purchases there.
Some department stores like JC Penney Co Inc and Kohl's Corp have created brands, which tempt shoppers to walk in.
Middle-priced department stores should know better whom they are going to cater to, and accordingly price and sell their products, said another retail analyst.
Such department stores will be fighting for a penny-conscious consumer whose wallet will be squeezed, analysts said.
To make matters worse Federated Department Stores Inc is offering competition in the form of a clearance sale, as it is re-launching and naming May Department Stores to Macy's.
Rosalind Wells, Chief Economist at the National Retail Federation (NRF) said that middle-tier department stores are the ones to face problems.
Customers get enticed by either discounts or exclusivity and fashion.
Whereas mid-tier department stores offer limited choice which cannot encourage customer to make purchases there.
Some department stores like JC Penney Co Inc and Kohl's Corp have created brands, which tempt shoppers to walk in.
Middle-priced department stores should know better whom they are going to cater to, and accordingly price and sell their products, said another retail analyst.
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