As Target, Kohl's and Nordstrom survive and thrive in the retail apocalypse era

It would seem that the retail industry is slowly going down in history, and online giants such as Amazon are ready to oust traditional stores. But Target, Kohl's, Nordstrom and other networks, having updated their business plan, showed that they can succeed, despite the era of online trading.

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Target: shop upgrades, celebrity partnerships and online strategy improvements

By 2020, the chain of stores plans to spend more than 7 billion dollars to upgrade stores. The company will also expand its presence in cities by building small stores and improving customer service. To do this, employees will be retrained, after which they will increase their salary.

The company also continues its long tradition of working with celebrities, including the Cravings by Chrissy Teigen collection.

In addition, the online store Target now offers same-day delivery to more than 1110 stores, and next-day delivery, which is available for many products throughout the country.

Kohl's: reducing stores and merging with Aldi

Kohl's will cut costs by reducing sales outlets at 1160 stores. In some stores, the number of which has decreased by about 30 percent, a part of the building will be rented or sold to another retailer.

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One of these is Aldi, as the company announced at the beginning of 2018 of the year that their grocery outlets will open in Kohl 10 stores throughout the country.

In the past two years, Kohl's has also opened 12 new stores that occupy just 35 000 square feet, which allows the company to tailor products for the local market.

Nordstrom: special events and updated storefronts

This high-end department store is able to compete with Amazon because it offers a different type of product. In the second quarter of 2018, Nordstrom had the most profitable day of online sales during the store's anniversary, exceeding its previous record of revenue by 80 percent, which is 10 times the daily average.

Best Buy: introduction of new services

In order to improve the experience of shopping, Best Buy has made purchases more attractive to buyers. The company announced a new feature of the application, which allows customers to warn the store when they are going to pick up selected products.

Best Buy also introduced the Best Buy technical support subscription service, which costs $ 199,99 per year. In addition, the company now offers the In-Home Advisor program, which allows you to order Personal Technical Advisory services to your home.

Macy's: Advanced Technology in the Store

In order to drive traffic to retail stores, Macy's uses advanced in-store technology to improve customer service. New features, announced in September 2018, include virtual reality, augmented reality furniture and beauty impressions that familiarize customers with products and help them make more informed purchasing decisions.

In February, 2018, the company launched The Market @ Macy's, which is currently open at 10 stores across the country.

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The Home Depot: Store Upgrades

The home improvement giant is in the process of a three-year investment aimed at modernizing retail outlets. More 500 locations are already on the road to upgrade, and the company is also working on updating its store interface.

Walgreens: launch partnership

Walgreens is working hard to prove that it is more than just a pharmacy. In October, 2018, the company announced a collaboration with the online beauty store Birchbox to create retail stores in selected Walgreens stores and supervise the Birchbox store on the Walgreens website.

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Petco: an increase in offers in stores and online

Petco worked hard to become indispensable to pet owners. In July, 2018, the company debuted at its first PetCoach store, offering a variety of services and products to help owners keep their pets healthy.

Petco also opened a veterinary clinic in one of its stores in Dallas in February 2018, as well as Pet Vet Veterinary Hospital in January 2018, and Thrive Affordable Vet Care Veterinary Clinic in October 2017.

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Lowe's: expanding the range of products

Offering something special is one way to keep customers coming back again and again. Lowe's promoted this business model multiple times in 2018.

In May, 2018, the company began selling selected products from the famous brand Craftsman. It is not known how these changes affected sales, but it is worth noting that the net profit in the second quarter of 2018 amounted to 1,5 billion dollars compared to 1,4 billion dollars for the same period last year.

Walmart: the expansion of online grocery delivery

Walmart is not only engaged in traditional retail sales, but is also a grocery store for many consumers. In March, 2018, the company announced plans to expand the online product delivery service for more than 40 percent of families in the US by the end of the year.

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Walmart has announced a new pilot delivery service, Spark Delivery.

Costco: introducing new delivery services

When Costco members need groceries, they no longer have to crowd the giant warehouse-style aisles of stores. In 2017, the company began offering two delivery services—two-day dry delivery and same-day delivery, including fresh groceries, through Instacart.

Dollar general

While many ordinary stores are closing, Dollar General is flourishing. In 2018, the company planned to open new stores around 900, reconstruct 1000 stores and relocate 100 stores.

The company's success is probably due to several wise business decisions, including the small size of the stores with products sold only in the most popular brands and sizes. The cost reduction was clearly an effective business model for Dollar General, which has been operating for over 75 for years and has more than 15 000 stores.

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