The Coronavirus (COVID-19) pandemic informed a steep decline in retail current value sales in 2020, while the number of outlets and selling pace decreased strongly. Physical non-essential retailers struggled due to the government’s measures to cope with the public health crisis by minimising contact and the risk of infection among consumers.
Faced with the decrease in in-store sales in favour of online purchases, the spaces of the physical department stores are being rethought by operators. Large-scale retail outlets are already in the process of redevelopment.
The second-ranked chained player in retail value share terms in 2021, Gruppo Coin SpA, has launched various projects to support closed businesses and female victims of violence. The closure of businesses and domestic violence against women rose in light of the effects of COVID-19.
Consumers are increasingly expecting to be able to access a complete shopping experience no matter which retail channel they use. Thus, the need to transfer in-store experiences to a digital platform will only increase, and this will make it essential for retailers to extend their presence to other channels and invest in new technologies.
The “Customer Experience”, both online and offline, will continue to be at the centre of every retail strategy, including within department stores. As for digital touchpoints, retailers will be able to count on new technologies and strategies to engage the public of users and entice them to buy (such as live streaming, interactive posts and augmented reality apps).
Over the forecast period, it is expected that department stores will be optimised in order to communicate with customers during the shopping experience, and make it a more pleasant and fulfilling activity. Therefore, apart from the relationship with store staff, it is predicted to be important for department stores to add digital tools, such as videos, promotional messages, music, and other multimedia content.
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Understand the latest market trends and future growth opportunities for the Department Stores industry in Italy 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 Italy, 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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