How are department stores categorized into tiers? How do the tiers differ? Give examples of each tier.
What will be an ideal response?
Department store chains are categorized into three tiers. The first tier includes upscale, high-fashion chains with exclusive designer merchandise and excellent customer service, such as Neiman Marcus, Nordstrom, Saks Fifth Avenue, and Bloomingdale's. Macy's and Dillards are in the second tier of traditional department stores, in which retailers sell more modestly priced merchandise with less customer service. The third is the value-oriented tier, Sears, JCPenney, and Kohl's, which caters to more price-conscious consumers.
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