Wednesday, April 4, 2018

Beauty Proves to Be a Bright Spot for US Department Stores

Fung Global Retail Tech

Beauty is a bright spot for department stores, and major names such as Macy’s and JCPenney are investing to attract a greater share of spending flowing to categories such as skin care, color cosmetics and fragrances.

Indeed, among the different categories that department stores compete for, beauty is a higher-growth category overall. Based on data from the US Bureau of Economic Analysis, US consumers increased their spending on apparel and footwear by 1.7% in 2017, while they grew their spending on beauty and fragrance products by more than double that rate, at 3.9%.. . . more

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