Warhol once said that “all department stores will become museums and all museums will become department stores”.
With the online commerce growing and more, departments stores need to rethink their strategy to attract more customers.
Medical spas, live bands, Michelin-starred chefs, shopping gets the five-star treatment are some examples to attract more customers.
Another big investment, for example, the British department store Selfridges is investing £300m on the famous architect Sir David Chipperfield to give the store a new look. Meanwhile, in France, Paris, Amanda Levete is working on Galeries Lafayette.
But regarding all the physical changes, according to Marigay McKee, former chief merchant at Harrods and former president of Saks Fifth Avenue, said during an interview to the Financial Times: “We have to bring the love and the humanity back into the experience of shopping. Stores need to concentrate on what I call ‘the three Es’ – emotion, environment and experience.
A lake with a view: Selfridges unveils rowing boats and a cocktail bar
Galeries Lafayette Christmas tree 2014, another big investment from the department stores to attract customers. The art of being creative.
Harrods in London, last year they did a collaboration with the fashion brand Dolce and Gabanna for their Christmas hall, with exclusive items and décor.