As department stores struggle and shopping malls close, startups are launching new retail models that could help reshape the industry, emphasizing experience, convenience, and more.
The retail apocalypse has claimed many victims — and department stores are no exception.
One of the major challenges facing these retailers is that they’re middlemen. Customers can likely find all of the products found in a Macy’s or a Nordstrom (or even a grocery store like Kroger) online.
Now, a handful of startups are emerging to disrupt the traditional department store.
These stores are all still middlemen (they sell other brands’ products, not their own) but they aim to differentiate themselves by offering interactive experiences, tying themselves to causes, and setting up stores in more convenient locations.
Below, we dive into 5 startups launching new retail concepts with the potential to reinvent the department store.