The Evolution of Department Stores: How Retail Giants Are Adapting to a Changing Marketplace
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Department stores have been a staple in the retail industry for over a century. However, changes in consumer behavior, technological advancements, and market shifts have forced these retail giants to adapt in order to survive and remain relevant in today’s changing marketplace.
The evolution of department stores began in the 19th century when retailers such as Marshall Field and Richard Warren Sears introduced the concept of bundling a variety of products under one roof. By the mid-20th century, department stores dominated the retail landscape with recognizable names such as Macy’s, J.C. Penney, and Sears.
However, the rise of discount …