The change is still a long way off, but MSCI and S&P Global recently announced prominent changes to the Global Industry Classification Standards (GICS) system. Consumer Decisions and Staples Exchange

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This includes the elimination of the Internet and its retail subsectors, direct marketing, and the merger of general merchandise and department stores into a new segment known as broad retail.

“The demarcation between general merchandise stores and department stores has also decreased. This is because both formats consist primarily of retail space that sells goods

at the discretion of the consumer,” according to a statement released by the index provider. “Retailers that generate the majority of their income or income from

consumer goods such as food, household goods. and personal care products guarantee mergers and acquisitions under the consumer goods segment.