Department stores have played an enormous role in the retail landscape and often occupy large and important stores. However, in recent years, department store retailers have become increasingly challenged. While some have closed down, others continue to struggle in the face of increasing costs, intense competition, and faltering consumer demand. GlobalData’s Managing Director, Neil Saunders joins to explore the challenge facing department stores and explore if the business model is still valid and viable.
Listen to episode 286 of the Retail Transformation Show and hear:
- Why the department store model is increasingly under threat.
- If alternative business models are more suitable.
- How one department store has found its place in the modern retail market.
Introducing Neil Saunders
Neil Saunders is Managing Director of GlobalData’s retail division. He oversees the development of the company’s retail proposition and research. He works with companies and brands to help them understand the retail, shopper and market landscape – advising them on how best to develop, evolve and implement business strategies.
Neil joined GlobalData after Conlumino, the company he co-founded, was acquired. Prior to this, Neil was Consulting Director at retail research firm Verdict. He started his career in the John Lewis Partnership where he worked on aspects like physical department store locations and the development of the ecommerce business.
Also, Neil has served as a non-executive board director for the Great Western Railway, has been an Advisory Board member for the Faculty of Business and Law at the University of Southampton and a Visiting Fellow at the University of Surrey.
He is a RETHINK Retail Top Retail Expert and one of LinkedIn’s Top Voice for Retail.
Find him on Twitter / X as @NeilRetail.
Also you can connect with Neil Saunders on LinkedIn
Or find out more about GlobalData at globaldata.com
Additional podcast episodes to listen to next
In a fierce cost reduction world, it would be easy to focus on squeezing productivity and labour budgets. However, preserving customer service levels and experiences is hard. In episode 273: Blending Labour Savings And Service Levels, Oliver explores different approaches to improve productivity and profitability without penalising the customer experience and in turn the top line revenues.
And finally, as Oliver points out in this episode, Amazon are essentially a department store. And in episode 257: Unpacking How Amazon Have Expanded, Oliver shares more about the unique ways of working including experimentation and tests, creating a continuous improvement culture and setting expectations.
And finally, in episode 146: The Future Of Department Stores, Founder of Insider Trends, Cate Trotter explores how department stores could pivot to discover their future place in the retail landscape.
