End of department stores' dominance: Time to reinvent themselves to survive

There is a growing sense of urgency in the retail industry as major players of the past, such as large discount stores and department stores, are facing sluggish growth amid economic recession. By contrast, online and mobile channels supported by popularization of mobile devices are continuing strong growth, quickly attracting digital customers. To offer a clear analysis and solutions amid this turbulence, Retail Magazine launched an interview series on various topics with Jihye Song, a partner with Bain & Company. This is the first part of the series, in which she diagnoses the problems of department stores and explores solutions.

(Full article only available in Korean)