List of Department Stores: A Data That Shoppers Will Love

How and Why, You Should Use Big Data for Your Store?

With the growing world of technology, it has become necessary to cope with the technology needed by every business sector. By using big data, individuals can manage to get the technical benefits which can help in businesses like-

• It can help with better customer insights by including traditional customer data sources like billing, calls, purchase details and support details. It also provides finance transaction data and credit reports. Using big data can help in increasing market intelligence by analysing the complexity of the shopping behaviour of consumers. Understanding the shopping behaviour and consumers can vastly help a business to grow. Understanding buyers' behaviour can also help businesses to target specific types of customers with specific products
• Not only customer data but big data also helps improve pricing decisions for small and large businesses. Data-free tools of big data can specifically help to assist the business finances as well as figuring the best pricing strategy to compete with the competitors in the market. It helps a business to make a smarter decision by analysing consumers’ behaviour and recommending special products for the individuals.
• Analysing customer behaviour as mentioned before, can help in streamlining acceptable content in a sophisticated way which will not even ask customers what exactly they are looking for and will directly show them the exact products that they are looking for.

What types of data are collected by Department stores?

To maintain a department will store it is important for the owner to track and maintain specific data to run the business smoothly. The four basic kinds of data that are maintained and collected by department store owners are-

Identity data, ensure that all the customers are legit buyers and help in confirming the identity of a consumer. Knowing the identity of the consumer can help in targeting specific customers with the right products.

Descriptive data, ensure the depth of Identity data of different people with different actions and turns the data into a data point to make purchasing pattern and buying pattern for online services. This type of data is mainly collected by the stores that provide online services to target specific audiences.

Behavioural data, ensure a customer’s behaviour makes the pattern and reflects the actions. For example, analysing a regular customer's shopping traits can help the owner to provide the same services that they may need. This data also works better for online services by targeting the specific type of customers using the data of their previous purchases.

Consumer data, refers to the basic data of a customer including email address, phone number, house address, the number of products that were purchased, type of billing methods and billing data.

Which is an example of the department store?

A Department store is a retail establishment with cells that avoids a range of products. These products generally include ready-to-wear apparel, different accessories for adults, household textile items of furniture, electrical appearances and accessories, packaged food and fresh food. This sector is just separated into different divisions and departments, which managers handle for buyers. There are different departments like merchandising, advertising, accounting and budget control. There are different types of departmental stores which are classified depending on the type of products they carry and sell which can include High fashion, general merchandise and regular items. There are different departmental stores, for example, supermarkets like Costco and convenience stores like Casey's general stores inc. Drug stores like OSCO, discount stores like Wal-Mart, extreme discount stores like Aldi, e-commerce stores like Zara, off-price stores like eBay and hypermarket stores like Tesco. These different types of stores are an example of department stores. There are different supermarkets with an online website that can be considered E-Commerce stores also. With this, it can be analysed that the future of department stores is the combination of online and offline services which can successfully provide convenient offers to the customers for making everyday life easy.

What are retail locations best for department stores?

Different types of locations can be used for department stores. Using different types of stores depends on the products that the department store is selling and each Store will have different pros and cons using different locations.

Mall space- It has different types of retailers competing in one space. It will provide a large number of customers daily, will help in anchoring in shopping community and the stores will be required to do less advertising for customer's attention.

Shopping centres- It will provide the stores with different types of benefits like it will have fewer rules and regulations for the store owners, it will have high visibility on the streets to gain customer attention, the stores will have to pay lower prices as rent it will also be served with basic routes like bus and metro locations. Considering this, it can be stated that shopping centres can be a good location for department stores.

Downtown area- It is also another effective location for department stores. Many communities work hard in their downtown areas and department store owners can utilise this. The store owners can find customers from the older to the new generation in the downtown area. It will provide the business owners more freedom, it will attract younger customers who prefer the urban way of living and it will provide a large number of customer traffic.

What is the world's most famous department store?

When it comes to department stores, it is hard to judge which is the best department store. The top 5 department stores in the world are stated as follows-

1. Galeries Lafayette, Paris, provides cutting-edge jewellery and accessories along with home decor and renowned foods.
2. Galleria Vittorio Emanuele, Milan, provides the best shop and restaurant along with modern shopping options
3. Selfridges, London which is considered to be the largest shop in England.
4. Takashimaya, Tokyo, provides Japanese ceramics, kimonos and Kyoto.
5. La Rinascente, Florence, provide a luxurious shopping feels along with traditional Tuscan goods and Terra cotta.