THEN AND NOW: Vintage photos show how department stores have changed
Briefly

THEN AND NOW: Vintage photos show how department stores have changed
"In the early 1900s, department stores existed to sell necessities, including food, home goods, and apparel."
"The rise of the internet and surge in online sales have placed a major strain on department stores. Saks Global, the parent company of Saks Fifth Avenue, Bergdorf Goodman, and Neiman Marcus, became the latest department retailer to file for bankruptcy on Tuesday."
"While some classic chains cease to exist, other retailers have found ways to increase sales."
Department stores in the early 1900s sold necessities including food, home goods, and apparel. Over time many stores shifted toward luxury merchandise and experiential retail. The rise of the internet and surge in online sales have placed major strain on department-store business models. As a result, several classic chains have ceased to exist while others struggle to remain in business. Saks Global, parent of Saks Fifth Avenue, Bergdorf Goodman, and Neiman Marcus, filed for bankruptcy recently. Some retailers have responded by finding ways to increase sales through adaptation, but many luxury department stores continue to face survival challenges.
Read at Business Insider
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