Macys, Sears, and JC Penny have been losing sales and profits for years; all hav

Question

Macys, Sears, and JC Penny have been losing sales and profits for years; all have closed stores in the last few years. In addition, they now, have announced more store closings for 2018.On line retailers like Amazon, big box stores like Walmart, Target, and Club Stores are giving the Department Store model (Macys; Sears; JC Penny) serious competition.The business model the old line department store uses was invented over 100 years ago.

Is this 100 years old Department Store model obsolete? Why or why not?

Can the old line department stores redefine themselves? If yes, how? If no, what should they do?

Answer all parts of the question. answer must be 400 words

Explanation / Answer

Question 1:

According to me these old department store model is not obsolete, the reasons provided below:

1. A department store model can be defined as a retail store where in a huge collection of consumer goods are displayed for sale. It includes all consumer goods under one roof.

2. Even though online retailers are gaining more importance in today's market, there is no way that these old department store model can become obsolete.

3. Consumer still prefer to go for shipping to have the touch in feel before buying a product especially for consumables.

4. Since there is tough competition these department stores has come up with new conceptual based department stores which keeps their business survive in the market.

5. Still there is a generation which feels comfortable walking into the store and buying things instead of online shopping with this generation being in place department stores cannot be obsolete.

Question 2

Yes, the old line department can redefine themselves, the reason provided below:

1. Department stores have to look into providing more unique buying experience to their customers. It has to concentrate on newness and shed out the traditional way.

2. Providing choices can be increased according to the needs of the customers instead of having the stored own preferred choices.

3. The department stores should try coming up with entertaining shopping experience to their customer as that impact on increase sales and satisfy the customers too.

4. List of things which it can look into would be specialist shops, discount stores, increasing product range etc.

5. New technologies like easy mobile billing instead of standing in ques, home delivery can be looked upon.

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