Deep Dive 24 minutes PremiumReinventing the US Department Store Coresight Research August 20, 2019 Executive SummaryIn this report, we assess how US department stores are transforming themselves to stay relevant. Most department stores continue to face intense pressure from online rivals, discount chains and big-box retailers. The key factors are lack of adequate upgrades, declining mall traffic and a decrease in the middle-class population. Some leading department stores, such as Nordstrom, Macy’s and Kohl’s, are reinventing themselves by rightsizing operations, embracing new and intelligent technology and collaborating with other retailers/unique partners. Some department stores are leveraging private label and exclusive brands and expanding omnichannel retailing with buy online and pick up in store (BOPIS) strategies. To tackle the challenges of online rivals, Nordstrom and Macy’s are revamping their customer loyalty rewards programs, while Kohl’s is piloting a new one. Macy’s is testing experiential concepts, including virtual shopping and pop-up marketplaces. This report is for paying subscribers only. Already a paying subscriber? Please log in to see the entire report.If you wish to learn more about our subscription plans and become a paying subscriber, click here. This document was generated for Other research you may be interested in: Earnings Insights 3Q23, Week 2: Crocs, CVS and Colgate-Palmolive Report Strong Results; Carter’s, Clorox, Estée Lauder and VF Corporation See Sales DeclineRetail-Tech Landscape: Web3 for RetailAI @ Retail: Supercharging the Customer Experience—Insights Presented at the Vision Monday Leadership Summit 2024Innovator Profile: PSYKHE AI Accurately Predicts Purchasing Behavior Using Deep-Learning Models