Can Department Stores Regain Their Relevance?
In the heyday of department stores, fashionable ladies flocked to luxury emporiums like Le Bon Marché, Bergdorf Goodman, Saks Fifth Avenue and Selfridges. Department stores were wondrous and bright communal playgrounds, places to socialise and explore the seemingly endless stock of goods, often from far-flung locales.
In the fight for consumer dollars, department stores have lost significant ground to monobrand stores, specialty retailers and e-commerce players. Can they regain their relevance?