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Department Stores Spruce Up Bottom Line in Market Shift Toward Upscale Goods
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Magazine Article
Department Stores Spruce Up Bottom Line in Market Shift Toward Upscale Goods
1987
Overview
Many of New England's big retailers are removing products and services, such as housewares and bridal registries, from department stores. They have found that margins are higher in apparel, and the inventory is cheaper to maintain. The change also has been stimulated by the increased use of computerized cash registers and the growth of shopping malls. The cash registers indicate precisely where big profits are centered, data that has led to a reevaluation of departments on the basis of profit per square foot. Low-profit areas often are eliminated. This trend has forced department stores, such as Filene's, to examine their position in the marketplace, and many have decided to leave lower margin goods, such as housewares, to others. While the specialization trend is widespread, retailers are making different choices about which departments to keep and which to drop. The retailers feel that the economic payoff of these changes will outweigh any consumer resentment.
Publisher
New England Business Corporation
Subject
/ Trends
