In 2022, the department store landscape in the United States showcased significant shifts and trends. According to a Statista report, we crafted a comprehensive listicle highlighting the year's top five department stores by sales. Macy's was ranked as the leading department store in the United States, with sales amounting to 24.25 billion U.S. dollars. Kohl's followed, with sales reaching over 17 billion. This analysis provides insights into the competitive dynamics within the retail sector and offers a snapshot of consumer preferences and market performance. Here’s a closer look at the leading players:
United States: leading department stores 2022, by sales
1. Macy's
Domestic Sales: $24.25 billion
Macy’s topped the list as the leading department store in the U.S. by sales for 2022. Despite a challenging retail environment, Macy’s generated a substantial $24.25 billion in sales. This iconic retailer, which boasts one of the world’s largest stores in New York’s Herald Square, has continually adapted its offerings to meet changing consumer demands. Macy’s extensive product range, encompassing fashion, beauty, home goods, and more, combined with its strategic investments in omnichannel capabilities, has kept it at the forefront of the retail industry.
2. Kohl's
Domestic Sales: $17.19 billion
Kohl's followed closely behind Macy’s, securing the second spot with sales exceeding $17 billion. Known for its value-oriented pricing strategy and extensive reach, Kohl’s has attracted a broad demographic, particularly baby boomers. The retailer’s partnership strategies, such as those with beauty giant Sephora, have bolstered its product appeal and in-store foot traffic. Kohl's emphasis on integrating an engaging in-store experience with robust online shopping options has also underpinned its strong performance.
3. Nordstrom
Domestic Sales: 14.35 billion
With a considerable market share of 24%, Nordstrom has established itself as a pivotal player in the U.S. department store market. Known for its high-end product range and superior customer service, Nordstrom continues to appeal to affluent consumers seeking quality and luxury. The retailer's innovative sale events, such as the Anniversary Sale, and its commitment to personalized experiences through Nordstrom's Local service hubs have differentiated it in a competitive market.
4. J.C. Penney
Domestic Sales: 7.12 billion
Dillard’s occupies the fourth position in our ranking, J.C. Penney, a long-standing fixture in the American retail sector, with a 10% market share in 2022. The retailer has navigated numerous market challenges but continues to resonate with price-conscious shoppers through its wide array of affordable and accessible fashion and home goods. J.C. Penney’s focused efforts to enhance its e-commerce presence and revamp its store layouts have played a crucial role in its resurgence.
5. Dillard's
Sales Growth: 6.84 billion
Among the top five is Dillard’s, with a 14% market share in national sales. This southern-based department store chain has carved out a niche by catering to middle-to-upper-income consumers with a carefully curated selection of fashion, cosmetics, and home items. Dillard’s emphasis on exclusive brands and high-quality merchandise has attracted a loyal customer base, ensuring steady growth and profitability.
Honorable Mention
6. Neiman Marcus
Sales Growth: 4.61 billion
In 2022, Neiman Marcus secured the 6th spot among top US department stores based on domestic sales figures. Despite the challenges brought on by the pandemic, luxury retailers reported US sales amounting to $4.61 billion. Neiman Marcus's strategic focus on an integrated luxury retail model and strong customer loyalty drove this impressive performance, showcasing its resilience and innovative approach. The company's fiscal year they concluded with over $5 billion in gross merchandise value and an 11% EBITDA margin.
Conclusion
The American department store market remains a battleground for retailers vying for consumer dollars. As the industry continues to evolve, these top-performing stores have demonstrated resilience and adaptability to maintain their market positions. Whether through strategic partnerships, enhanced customer experiences, or innovative sales strategies, each retailer has found a way to stay relevant and competitive in an ever-changing retail ecosystem.
