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We’re trying to keep that customer over 40, but we’re trying to go back to our younger customer as well,” Preis said during her session at CommerceNext’s Ecommerce Growth Show , held June 20-21 in New York City. We are not a department store, so we’re not forced into merchandising certain product categories together,” Preis explained.
Additionally, congestion at the Port of Shanghai, the largest port in the world, appears to be easing. The average waiting time across all vessel types, including tankers, bulkers and containers, at Shanghai has reduced to 28 hours, which is down considerably from its peak average waiting time of 66 hours during the lockdown in China.
From a consumer perspective, shoppers don’t want to spend top dollar on expensive items when there are better deals they can find at a TJ Maxx, HomeGoods or Marshalls. . As specialtystores and traditional retailers continue to decline, discount chains are experiencing growth by capitalizing on inevitable excess inventory.
Japan’s Ministry of Economy, Trade and Industry said there were 210 department stores in Japan at the end of 2019 but attrition in the ensuing three years reduced that number to just 192 by the end of 2022. In Japan itself, year-on-year sales growth in January for the 15-store chain was 16.3 per cent over January 2022.
For once, department stores are leading a retail sales recovery instead of lagging it. In Japan, the Ministry of Economy, Trade and Industry (METI) reports that retail sales in the first quarter amounted to 39,781 billion yen (about $434 billion at current exchange rates), up 6.5 Supermarkets (5,921 stores) gained 1.8
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