Retail sectors saw drastic fluctuations during the pandemic. Now, the industry is on an impressive rebound streak – showing significant signs of recovery throughout all aspects of retail.
During the pandemic, department stores saw significant changes. Key players had to reinvent their selling and brick-and-mortar strategies in order to stay afloat. They adapted experiential models and started partnerships with other brands in the industry.
According to a recent study by Placer.ai, Kohl’s and Dillards had experienced a decrease in store traffic, just like most other stores during the height of the pandemic. However, they were only down 3.5% respectively when comparing visits during the equivalent month in 2019, which is a clear sign of department stores’ strength and their apparent efforts to redefine the landscape. Macy’s and Nordstrom also saw traffic improve dramatically in May.
Signs show that the future is even brighter for department stores. As the back-to-school season approaches and reopenings continue to take effect in NY and California, department stores, including mall-based, are well-positioned for growth.
A continued evolution is crucial for department stores as they recover in a post-pandemic setting. Department leaders still carry a lot of strength in the sector, and they will likely be leveraged to drive a long-term life in brick-and-mortar shopping.