Sales figures from department stores in 2021 remained much lower than those recorded pre-pandemic. The small increase in 2021 when compared to 2020 was due to the marginal improvement in footfall to bricks-and-mortar stores, which was the result of pent-up demand and the benefit of the Christmas 2021 selling period.
The trend of department store closures accelerated following the emergence of the pandemic. Not only had there already been departures from Ireland of previously well-established players such as Debenhams and House of Fraser, but stores such as Next, Shaws and Heatons all reported some closures in 2021.
December 2021 saw the announcement that an agreement had been reached to sell Brown Thomas and Arnotts (both globally owned by Selfridges & Co Ltd) – two of the major players in department stores in Ireland – to a Thai/Austrian consortium reported to be worth EUR4.7 billion.
The forecast period is predicted to bring further difficulties for department stores in Ireland, with in-store sales predicted to remain much lower than pre-pandemic levels. Whilst a larger increase in terms of growth is predicted for 2022 in a year that is unlikely to see further restrictions, the rate of growth will then gradually soften over the remainder of the forecast period.
Moves across the Irish Sea in the UK have already been made to tempt hesitant customers back into department stores and stem the decline in outlet numbers. Selfridges in London opened PlayHouse by Smarttech, a new gaming destination that aims to benefit from the popular gaming market.
Whilst the impact of the pandemic was notable on department stores, a longer lasting challenge is presented by the further penetration of e-commerce and the development of its popularity in Ireland. COVID-19 accelerated the shift towards online shopping, with many consumers finding that it is more convenient to purchase a product online than they would have otherwise bought from a physical department store.
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Understand the latest market trends and future growth opportunities for the Department Stores industry in Ireland 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 Ireland, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Outlets selling mainly non-grocery merchandise and at least five lines in different departments, usually with a sales area of over 2,500 sq metres and arranged over several floors. Example brands include Macy’s, Bloomingdale’s, Marks & Spencer, Harrods, Sears, JC Penney, Takashimaya, Mitsukoshi, Daimaru, Karstadt, Rinascente.
See All of Our DefinitionsThis report originates from Passport, our Department Stores research and analysis database.
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