Department stores continue to adapt to evolving consumer preferences and an ever-changing retail landscape. We looked at the latest location analytics for traditional and luxury department stores to uncover how they are finding success in today’s dynamic apparel space...
Key Takeaways
...more- The share of visits to luxury department stores held steady between 2021 (2.2%) and 2024 (2.3%), indicating that these retailers have remained relatively insulated from the rise in budget-conscious shopping.
- Bloomingdale’s (1.5%), Nordstrom (2.2%), and Dillard’s (2.3%) saw YoY visit increases in 2024, highlighting the value of elevated shopping experiences.
- Between 2021 and 2024, the share of both Nordstrom’s and Dillard’s visitors that also visited one of the leading off-price chains increased, revealing an opportunity for department stores that meet the growing demand for lower prices.
RSK: What I find interesting is a good portion of those who frequent the upscale department stores also check out the off-priced ones as well.
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