Though the most high-profile news story involving department stores continues to be the identity crisis of JC Penney, the bigger problem–and one that affects the entire sector–is how these stores will sustain enough growth to remain viable businesses. With specialty brands launching their own B2C channels and Amazon continuing its merciless expansion into every retail vertical on the planet, the mid-priced regional department stores and even the more niche retailers like Bergdorf Goodman and Barneys NY are at risk of ceding too much market share. One way the savviest of these stores have fought back is by using digital to leverage their strengths: strong logistics, consumer loyalty, and heritage, to name a few.
In the video above, Ari Wolfe, who led the research efforts on our new Digital IQ Index: Department Stores report, discusses some of the most successful digital initiatives and investments made by department store brands over the past year.
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