Vice President for Academic Affairs on the future of department stores
June 20, 2017
LIM College's Vice President for Academic Affairs and fashion industry vet Michael P. Londrigan appeared on CCTV2, a global Mandarin business channel affiliated with China's largest TV network, to discuss the challenges facing U.S. department stores.
According to Londrigan, retail is changing due to the online environment, but it’s not all doom and gloom. Statistics show that by 2025, 18% of all apparel and accessories sales will take place online, which still leaves 82% of physical space that people will have to actually go in to shop, he says.