Department stores saw a small decline in value sales terms in 2021. This was mostly due to the mandatory closure of department stores for three and a half months at the start of the year due to a new wave of COVID-19 infections.
Department stores remain an important option for brands wanting to maintain a physical presence in a city but without having the expense of a physical retail store. In Copenhagen, the largest department store Magasin Du Nord offers brands a premium location and brand presence without the need for an independent physical retail location.
The department store market in Denmark remained highly consolidated in 2021 with only three players, Magasin du Nord, Salling and Illum, owning a total of ten department stores. Magasin remained the market leader and the player with the most prominent retail locations.
Along with shopping centres, department stores were hardest hit by the COVID-19 pandemic as they were forced to closed for several months in both 2020 and 2021. Because of this, the category is expected to see a strong recovery with solid growth in both 2022 and 2023 and more moderate growth over the rest of the forecast period.
Department stores are expected to be challenged further by e-commerce over the forecast period and it is expected that they will continue to focus heavily on developing their e-commerce offerings. So far Magasin has been leading the way and seen strong growth in its online sales, and it is set to continue to develop and market its online platform with other players sure to follow suit.
Given the challenging situation faced by department stores during COVID-19 with several months of forced closures, it is expected that players will take a while to get back on their feet. It is therefore unlikely that any of the main players will make any major strategic investments, such as opening a new store, any time soon, so it is expected that the number of department stores in Denmark will remain steady over the forecast period.
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Understand the latest market trends and future growth opportunities for the Department Stores industry in Denmark with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Department Stores industry in Denmark, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Department stores are chained or independent retail outlets that usually exceed 2,500 sq metres of selling space, are typically in high-street or shopping mall locations, and have a primary focus on selling a range of non-food/drink/tobacco merchandise across several categories in different departments. Department stores usually have a mid-to-upper price positioning. Example brands include Macy’s, Marks & Spencer, and Takashimaya.See All of Our Definitions
This report originates from Passport, our Department Stores research and analysis database.
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