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Global Department Stores Market to reach USD 181.30 billion by the end of 2030

Global Department Stores Market Size study & Forecast, by Product Type(Apparel and Accessories, FMCG, Hardline and Softline)and Regional Analysis, 2023-2030

Product Code: OIRCGS-72345694
Publish Date: 15-11-2023
Page: 200

Global Department Stores Market is valued at approximately USD 121.78 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.1% over the forecast period 2023-2030. Department stores market are stores where customers can shop everything they need with ease and comfort also they can find every product category under one roof in an organized manner. The Department Stores market is expanding because of factors such as it provides comfort and ease for customers, moreover rise in income and population in urban sectors drives the market to grow. However, the rise in people shifting to e-commerce platforms and the non-adoption of emerging technology by departmental stores might hinder market growth.

Due to comfort and ease and additionally save in consumers energy the popularity of people buying from departmental stores is increasing as, they can shop everything they need under one store weather the product they need is of everyday use or it is luxurious, this benefits the consumers. Rising shift in e commerce platform might hinder the market but seeing the statistics provided by frontiers in January 2022 there are still 33% of consumers who gets satisfaction of buying the product once they physically touch and view it. Additionally, 65% of the consumers buy products from these stores because they want to avoid the additional cost added by e commerce platforms such as shipping cost. According to World Bank, in April 2023 56% of the world’s population is living in cities this rise of people shifting to cities and adopting the lifestyle of people living there is also rising the department store market. Moreover, if we will see the future statistics it is projected that approx. 7 billion people tends to start living in cities by 2050, which again rises the population in urban sector and then the customers buying from departmental sectors as more population leads to more customers. This future rise in population in cities gives a great opportunity to departmental store market to grow.

The key regions considered for the Global Department Stores Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 due to the rise in urbanization and department stores providing convenience and everything under one roof are major factors which allow the market to grow in this region. Moreover, presence of more departmental stores in this market are making this market grow. Asia Pacific is expected to grow significantly over the forecast period, owing to factors such as growing digitization, rise in income of people, and changes in the lifestyle of middle-class families are helping the market to grow in this region.

Major market player included in this report are:
Walmart Inc.
Costco Wholesale corporation
The Kroger Co.
Marks and Spencer Group Plc
Macy’s Inc
Sears Holdings Corp
Target Corporation
Nordstrom, Inc.
Isetan Mitsukoshi Holdings Ltd.
Kohl’s Corporation

Recent Developments in the Market:
Ø In Aug 2023, Marks and Spencer Group Plc announces a new castle store transformation with USD 16.34m investment in the North East it has updated two more stores in Newcastle M&S Silverlink and M&S Gosforth Foodhall which had relaunched with the retailer’s new design and feature in-store technologies to make shopping more easy, including Digitalization and mobile in-app purchasing with Scan & Shop.
Ø In March 2022, Target tends to approximately open 30 stores reaching every area so that it is more convenient to people as they need not travel more also the stores Will be located in every area that is from mid-size locations to small format stores in city center, this opening of more store will help Target to reach more customers and meet community need.

Global Department Stores Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Product Type, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product type:
Apparel and Accessories
Hardline and Softline

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Department Stores Market, by region, 2020-2030 (USD Billion)
1.2.2. Department Stores Market, by Product Type, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Department Stores Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Department Stores Market Dynamics
3.1. Department Stores Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Comfort and ease to customers Rise in Urban population
3.1.2. Market Challenges Rise in people shifting to e-commerce platforms Non-acceptance of growing technologies by departmental stores
3.1.3. Market Opportunities Offering discounts on products occasionally Changes in lifestyle and rise in Income
Chapter 4. Global Department Stores Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Department Stores Market, by Product Type
5.1. Market Snapshot
5.2. Global Department Stores Market by Product Type, Performance – Potential Analysis
5.3. Global Department Stores Market Estimates & Forecasts by Product Type 2020-2030 (USD Billion)
5.4. Department Stores Market, Sub Segment Analysis
5.4.1. Apparel and Accessories
5.4.2. FMCG
5.4.3. Hardline and Softline
Chapter 6. Global Department Stores Market, Regional Analysis
6.1. Top Leading Countries
6.2. Top Emerging Countries
6.3. Department Stores Market, Regional Market Snapshot
6.4. North America Department Stores Market
6.4.1. U.S. Department Stores Market Product Type breakdown estimates & forecasts, 2020-2030
6.4.2. Canada Department Stores Market
6.5. Europe Department Stores Market Snapshot
6.5.1. U.K. Department Stores Market
6.5.2. Germany Department Stores Market
6.5.3. France Department Stores Market
6.5.4. Spain Department Stores Market
6.5.5. Italy Department Stores Market
6.5.6. Rest of Europe Department Stores Market
6.6. Asia-Pacific Department Stores Market Snapshot
6.6.1. China Department Stores Market
6.6.2. India Department Stores Market
6.6.3. Japan Department Stores Market
6.6.4. Australia Department Stores Market
6.6.5. South Korea Department Stores Market
6.6.6. Rest of Asia Pacific Department Stores Market
6.7. Latin America Department Stores Market Snapshot
6.7.1. Brazil Department Stores Market
6.7.2. Mexico Department Stores Market
6.8. Middle East & Africa Department Stores Market
6.8.1. Saudi Arabia Department Stores Market
6.8.2. South Africa Department Stores Market
6.8.3. Rest of Middle East & Africa Department Stores Market

Chapter 7. Competitive Intelligence
7.1. Key Company SWOT Analysis
7.1.1. Company 1
7.1.2. Company 2
7.1.3. Company 3
7.2. Top Market Strategies
7.3. Company Profiles
7.3.1. Walmart Inc. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
7.3.2. Costco Wholesale corporation
7.3.3. The Kroger Co.
7.3.4. Marks and Spencer Group Plc
7.3.5. Macy’s Inc
7.3.6. Sears Holdings Corp
7.3.7. Target Corporation
7.3.8. Nordstrom, Inc.
7.3.9. Isetan Mitsukoshi Holdings Ltd.
7.3.10. Kohl’s Corporation
Chapter 8. Research Process
8.1. Research Process
8.1.1. Data Mining
8.1.2. Analysis
8.1.3. Market Estimation
8.1.4. Validation
8.1.5. Publishing
8.2. Research Attributes
8.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
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Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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