To Compete With Walmart, Kohl’s Will Fill Empty Store Space With Grocers
In order to improve profits, attract a larger consumer base and compete with retail giants like Walmart and Target, Kohl’s has decided to partner with grocery and convenience stores in some of its locations across the U.S., according to CNBC.
The department store retailer revamped and downsized approximately 300 stores over the past few years to help optimize operations and place more focus on its e-commerce initiatives. But it has also left many of the locations with empty space.
To fill said space, Kohl’s plans to team up with food and convenience concepts in order to fill the gaps and offer its customers a wider array of options. Teaming up with other companies is one way retailers are fighting back against the shift in the sector, which has left many struggling to stay afloat.
Kohl's has yet to announce who will become its first partner, but there is speculation of a Whole Foods Market partnership already swirling due to the retailers existing relationship with Amazon.
While companies like Kohl's are hoping to increase customer traffic by partnering with other retailers, others like Hudson's Bay Co. are looking outside of the sector for inspiration. The department store owner recently partnered with co-working behemoth WeWork to convert the top floors of a number of Hudson Bay's department stores across North America into office space.