What Is a Department Store?

A department store is a store that manages and manages different commodity departments. Because the level of economic development in different countries is different and the national conditions are different, the definition of department stores is also slightly different. ^[1]

[bi huò shng diàn]

A department store is a store that manages and manages different commodity departments. Because the level of economic development in different countries is different and the national conditions are different, the definition of department stores is also slightly different. ^[1]

According to China's national standard (GB / T18106-2004) "Retail Business Classification", which came into effect on October 1, 2004, the requirements for department stores in this standard are as follows: ^[2]

The earliest department store in the world was founded in 1862 in Paris, France, under the name Good Market. The world's largest department store is American

Development of department stores

Since the implementation of China's reform and opening up, the national economy has maintained a sound momentum of sustained, healthy, and rapid development. After 2001, China's economy has entered a new period of rapid development, and GDP growth has accelerated year by year, from 8.3% in 2001 to 11.1% in 2006. By the end of 2006, the number of Chinese retail chains above designated size reached 123,690, an increase of 17%. Among them, there were 23,233 supermarkets, an increase of 22.8%; 77,220 specialty stores, an increase of 15.2%. In 2006, the retail sales of chain retail enterprises above designated size was 1,049.9 billion yuan, an increase of 22.5%, accounting for 13.7% of the total retail sales of consumer goods, an increase of 2.1 percentage points from 2005.

In November 2007, the sales volume of one hundred key retail enterprises nationwide reached 24.31 billion yuan, an increase of 30.3% over the same period in 2006. In November 2007, the retail sales of 100 food companies reached 2.71 billion yuan, an increase of 30.4% year-on-year, of which the retail sales of grain, edible oil and meat were 150 million yuan, 170 million yuan and 280 million yuan, respectively, year-on-year. Increases were 39.61%, 85.05% and 48.06%. In November 2007, one hundred large enterprises achieved sales of 6.92 billion yuan in apparel, a year-on-year increase of 25.31%. Among them, the sales of winter clothing and leather clothing were the most impressive, and the growth rates exceeded the growth rate of total clothing. In November 2007, the sales of household appliances reached 1.15 billion yuan, a decrease of 580 million yuan from the previous month, and a year-on-year increase of 30.7%. The sales of cosmetics were optimistic, achieving 930 million yuan, an increase of 24.81%.

Impact of department store financial crisis

The global financial crisis in 2008 not only threatened retail companies, but also brought more opportunities for mergers and acquisitions. This means that retail companies will face a major reshuffle, which gives Chinese retail companies a chance to grow.