Department stores bet on experiences

Gloomy outlook: Merchandise for sale at a Saks Fifth Avenue store in Chicago, Illinois. Saks Global CEO stepped down after the company missed a bond payment, triggering reports it was preparing for bankruptcy. — AFP

FROM Paris to New York, department stores are sharpening their focus on curated shopping experiences – ice-skating shows, wine tasting and architectural tours – to try to win back shoppers.

The push has gained urgency as Saks Global’s mounting troubles highlight the sector’s struggle to stay relevant amid competition from luxury brands’ own boutiques and fast-growing eCommerce platforms.