Department Stores Market Demands, Trends and Business Outlook 2028
Department Stores Market Growth & Trends The global department stores market size was estimated to reach USD 166.08 billion by 2028 and is expected to grow at a CAGR of 5.1% from 2022 to 2028, according to a new report by Grand View Research, Inc. The popularity of offering specified products by various retailers under the same roof eliminating the need to go to another store for different needs, which saves both time and energy for the customer is the major factor driving the growth of the market. Department Stores Market Segmentation Grand View Research has segmented the global department stores market based on product type, and region: Based on the Product Type Insights, the market is segmented into Apparel and Accessories, FMCG, Hardline and Softline. The hardline and softline segment dominated the market and contributed a revenue share of over 47% in 2021 and is projected to grow at a CAGR of 4.5% from 2022 to 2028. The rising trend among the new generation t...