Is The Middle Class Responsible for The Death of Department Stores?
Department stores, one of the biggest icons in retail are slowly dying out. Barneys, the iconic chain of upscale New York department stores established in 1923, has just filed for bankruptcy protection.
Times are tough for department stores all over.
Meanwhile Australia’s once dominant Myer and David Jones chains are in a “death spirals”, according to retail experts.
The internet is a big part of the problem faced by these once mighty retail empires. However recent research indicates the decline could be attributed to a bigger problem: a decline of the middle class.
Joining 2SER The Daily to discuss is Jason Pallant, Marketing Lecturer and Researcher in Swinburne University.