For worst-performing industry of 2019, only way out is to shrink
Retailers seek to add in-store experiences to attract customers
By Jordyn Holman, Bloomberg News
Published: January 2, 2020, 6:00am
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NEW YORK — After a bruising year, U.S. department stores and apparel retailers will seek to bounce back in 2020 by closing more locations, shrinking their shops and adding more experiences to attract customers — like old-fashioned tailoring and trendy in-store cafes.
In 2019, it was clear that both categories lost ground as consumers continued their steady migration to Amazon.com
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