According to a report by the International Association of Department Stores (IADS), the shop for department stores ran worse in the past year than in previous years. After international department stores were able to gain momentum in the post-corona period, the development was recently declining. On average, there was an sales development of around -1.6%. The Post-Covid boom runs out, it says on the part of IADS.
In Europe, the department stores were able to stabilize in global comparison. The sales development was an average of 1%for both group -owned and independent department stores. In America, the independent department stores were particularly able to assert themselves, while the locations belonging to a group had a negative development. In Asia, too, the sales achieved went back by department stores.
For the future, the organization continues to expect persistent uncertainties in the international business. Last but not least, the choice of the new US president and the resulting tariffs could lead to great restructuring in global retail. Estimating Asian markets such as Vietnam and India will significantly influence the global retail landscape. The first Indian department store of Galeries Lafayette in partnership with the Aditya Birla Group will open in Mumbai this year and a second in Delhi in 2026. In the EU, sustainability guidelines are revealed by 2028 a comprehensive environmental reporting and duty of care for retailers.
