As department stores and big-box brands fall out of vogue, smaller concept stores are paving the way for the future of retail.
In recent months, department stores like JCPenney and Macy's have abandoned the mall by debuting standalone, small-format stores designed to experiment with new retail strategies and ramp up foot traffic. Likewise, Sephora announced in early February it plans to open 100 smaller-format stores in cities like Nashville and San Jose. Those stores will be positioned closer to neighborhoods rather than embedded in malls, as part of a push toward localizing retail. . . . more