Discount Department Stores in the US - Industry Market Research Report

Bargain bin: Price-based competition will continue to eat into industry profit

Discount department stores have struggled due to declining demand, intense competition and negative impacts of the COVID-19 pandemic. Over the years to 2023, revenue is anticipated to decline at a CAGR of 1.2%, falling to $110.3 billion. This comes despite a revenue decline of 1.9% expected in 2023 amid increasing in consumer spending. Following the initial outbreak was a period of economic struggle for many businesses, and this contributed to the spike in activity when the economy entered its recovery period. During the period, rising competition from existing players that already dominate the industry, as well as newer online platforms, have both worked to accelerated industry revenue declines. This industry comprises retailers that sell various consumer goods at discounted prices. Unlike department stores that have separate cash registers in each department, discount department stores generally have central customer checkout locations. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.