Market analysts argued that department stores have experienced declining revenue on lower foot traffic as online stores like Amazon, which recently made an aggressive push into apparel and fashion, have started to take significant market share from traditional brick-and-mortar stores, reports Susaznne Kapner for the Wall Street Journal.
“On the other hand, consumers are winning, according to the analysts. They’re taking advantage of the price deflation in apparel and tend to spend more on restaurants and experiences, according to Dana Telsey, CEO of Telsey Advisory Group,” reports CNBC.
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