What: Manor interviewed the director of the Swiss Retail Federation to discuss the current state of retail.

Why it is important: According to the director, department stores have the opportunity capitalize on the changes happening within the industry.

The start to 2023 has been bumpy, as retailers announce store closures, layoffs, and a decrease in profit. Digitization and the pandemic have changed the retail landscape, however many retailers are adapting and thriving.

While some have reported that department stores have missed the change, Dagmar disagrees with this statement. The director stated that department stores have the advantage of having everything in one place, giving them the best conditions for innovative store concepts.

With constant change, competitive pressure increasing, and customer needs being more demanding, retailers can no longer rely on traditional concepts. Dagmar suggests that to survive in the market, retailers should have excellent curation and brand selection, an atmospheric experience, and integrate digital media and elements in stores.

Retail trade – where opportunities and risks are close together