Sold out: The transition of department stores to supercenters has hindered industry growth

Similar to the industry on the national level, the Department Stores industry in Florida has contracted over the five years to 2017. The industry's decline is the result of both rising competition from online-based businesses and the transition of department stores to supercenters through industry players adding fresh groceries to their product lines. E-commerce has posed an especially large threat to department stores over the five-year period. Since online retailers incur lower overhead costs, they are often able to pass those cost savings along to the consumer in the form of lower selling prices. Over the five years to 2022, similar trends will continue to cause the industry to contract...read more.

Industry Statistics & Market Size
Revenue
$9bn
Annual Growth 12-17
-3.4%
Forecast Growth 17-22
Profit
Employment
54,256
Businesses
436
What Our Customers Say

Industry Threats & Opportunities

  • E-commerce has posed an especially large threat to department stores over the five-year period
  • Many industry players have opted to shutter locations due to increasing competition
  • The brick-and-mortar operators in this industry will feel the effects of online shopping
  • Industry Report - Industry Key Buyers Chapter

    The Department Stores industry has a high level of market share concentration, with the top four companies accounting for about 80.0% of total industry revenue in 2017. The industry has many prominent operators and is made up primarily of major players that hold more than 5.0% industry market share. Target Corporation is the largest player in the industry and accounts for about 40.0% of total department store revenue. All of the companies in this industry have more than one location, with the average operating 48 establishments in 2017. Furthermore, department stores tend to be large, with an average of 124 employees working in each establishment...purchase to read more.

    Additional Insights for the Department Stores in Florida Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Department Stores in Florida Industry are

  • Ability to control stock on hand
  • Experienced work force
  • Ability to expand and curtail operations rapidly in line with market demand
  • IBISWorld analysts also discuss how external factors such as Percentage of services conducted online and Import penetration into the manufacturing sector in the Department Stores in Florida industry impact industry performance..

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    What is the Department Stores in Florida Industry?

    Department stores retail a broad range of general merchandise, such as apparel, jewelry, cosmetics, home furnishings, general household products, toys, appliances and sporting goods. Discount department stores, which are also included in this industry, retail similar lines of goods at low prices. However, big-box retailers and supercenters that offer fresh groceries in their stores, and warehouse clubs that operate under membership programs, are not included in this industry.

    Industry Products
  • Drugs and cosmetics
  • Men's wear
  • Children's wear
  • Toys and hobby goods
  • Nongrocery food items
  • Women's wear
  • Home goods
  • Industry Activities
  • Retailing apparel and accessories
  • Retailing appliances and home furnishings
  • Retailing toys and sporting goods
  • Retailing other general merchandise
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Percentage of services conducted online
  • Import penetration into the manufacturing sector
  • Per capita disposable income in Florida
  • Time spent on leisure and sports

  • Current Performance
  • Competition
  • Closures and employment
  • Macroeconomic benefits
  • Chart: Revenue Growth

  • Industry Outlook
  • Competition and closure
  • Bright spots
  • Table: Department Stores in Florida Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Department Stores in Florida Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Consumers

  • Key Selling Industries
  • Ceramics Manufacturing
  • Footwear Wholesaling
  • Hardware Manufacturing
  • Household Furniture Manufacturing
  • Major Household Appliance Manufacturing
  • Manufacturing
  • Men's & Boys' Apparel Wholesaling
  • Shoe & Footwear Manufacturing
  • Vacuum, Fan & Small Household Appliance Manufacturing
  • Women's & Children's Apparel Wholesaling

  • Products & Services
  • Women's wear
  • Drugs and cosmetics
  • Home goods
  • Other
  • Men's wear
  • Toys and hobby goods
  • Children's wear
  • Nongrocery food items
  • Chart: Department Stores in Florida Industry Products and Services Segmentation

  • Major Markets
  • Consumers aged 45 to 54
  • Consumers aged 35 to 44
  • Consumers aged 55 to 64
  • Consumers aged 25 to 34
  • Consumers aged 65 and older
  • Consumers under 25 years old
  • Chart: Major Market Segmentation for the Department Stores in Florida Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesRent and utilitiesDepreciationMarketing and other costs
  • Chart: Cost Structure Benchmarking – Sector vs Department Stores in Florida

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Department Stores in Florida Industry

  • Target Corporation Macy's Inc.Sears Holdings CorporationWal-Mart Stores Inc.JCPenney Company, IncNordstrom Inc.Neiman Marcus Group Inc.
  • Table: Target Corporation - financial performance
  • Table: Macy's Inc. - financial performance
  • Table: Sears Holdings Corporation - financial performance
  • Table: Wal-Mart Stores Inc. - financial performance
  • Table: JCPenney Company, Inc - financial performance
  • Table: Nordstrom Inc. - financial performance
  • Table: Neiman Marcus Group Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Department Stores in Florida Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Department Stores in Florida Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Per Capita Disposable Income in Florida (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Big-Box Retailer
  • A relatively new store format characterized by its large size. These stores sell similar merchandise as department stores, but also include grocery items. Also referred to as supercenters.
  • Black Friday
  • The day following Thanksgiving Day in the United States. It traditionally marks the beginning of the Christmas shopping season and thus many retailers host sales with heavy discounts.
  • Brick-And-Mortar
  • A store that has a physical presence and location, as opposed to an online retailer.
  • Point-Of-Sale (Pos)
  • A system used at checkout in retail stores using computers and cash registers to capture transaction data at the time and place of sale.
  • Radio Frequency Identification (Rfid)
  • A technology that tracks products from the time they leave the assembly line to the time they leave the store by releasing continuous signals from a chip.
  • Why buy this report?

    IBISWorld’s Department Stores in Florida Industry Research Report offers insight into the market at the national level. Our analysis highlights macro trends in the overall sector and the micro trends faced by companies that do business in the Department Stores in Florida industry. Our five-year outlook forecasts explain how the market is set to change and the product segments that will drive growth.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Department Stores in Florida:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Department Stores in Florida market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Department Stores in Florida, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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