Department Stores Equipped with Advanced Technology in China: Ken Research

Ken research declared the recent publication on “Department Stores Retailing in Asia-Pacific, 2015-2020”, which offers insights on Asia pacific’s department stores retail landscape including current market sizes, the Asia-Pacific’s s fastest growing markets and category groups. Furthermore, in-depth analysis of the market size and category forecasts for the specific regions and countries, and also features major retailers, key innovative retailers, and department store retail trends. The publication covers 12 largest retail markets in Asia-Pacific and the shrewd analysis of the latest trends, market dynamics covering 9 category groups and key innovations in retail space in major countries across the region. Individual concentrating on the competitive landscape or on the latest trends can drive all such information from this publication.

ICSC: Department store in Asia Pacific

ICSC has defined the department store in Asia Pacific region, which includes minimum NLA is 20,000 sq feet. Retail establishment with an assortment in variety and range of goods organised into separate departments/ brands.

Defined attributes include:

Stand-alone building – Physically separated from neighbouring retail offer i.e. not directly anchoring a mall.
Single owner, separate ownership from surrounding retail, not being used to anchor a mall.
90% of space under centralised payment system.
Less than 10% of space subleased to tenants other than the department store retailer.
90% of staff employed centrally.

A retail tenant of more than 50,000 sq. ft. which offers a vast range of goods e.g. apparel, cosmetics and home wares segmented into departments. Although a department store may carry a range of different brands, it will be leased to a single lease that may then sublease that piece of space and would typically have less than 20% of NLA dedicated to food & groceries or F&B. The focus of a department store is typically higher-order retailing e.g., fashion, accessories, home wares, with less of a focus on day-to-day amenities shopping.

Latest Trends

China dominates the regional market accounting 38.3% of the Asia-Pacific’s department stores retail sales. China will continue to be the largest value contributor, followed by Japan. Indonesia is forecasted to be the fastest-growing region driven by healthy economic circumstances and the growth of leading retailers in Indonesia are driving novel players to the market.

Topics Covered in the Report