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Macy's

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Lauren Wood

on 17 April 2014

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Transcript of Macy's

Macy’s Advertising
• Black Friday sale ads
• Macy’s mobile marketing campaign- September 2013
• Macy’s “One Day Sale” advertisements

Macy’s Thanksgiving Day Parade
• They have conducted the parade each year since 1924.
• The parade is a way to launch the Christmas shopping season.
Macy's
Retailing: Spring 2014
The History
Macy’s history
• Started as a small dry goods store in 1858
• First day sales totaled $11.06
• By the end of the first year they grossed almost $90,000.00
• Headquartered today in Cincinnati, OH.
• One of two divisions in the company with the other being upscale Bloomingdales.
• 16th largest retailer in the United States in terms of revenue

By 1924 Macy’s original location moved to its current Herald Square location making it the largest store in the world.
• By that time it was generating $36 million in annual sales
• Over the next decades Macy acquired many other retail chains while expanding their number of stores
• In 1994 Federated Department Store Inc. and R.H. Macy’s combined to create the worlds largest department store company.
• Now operate 400 stores in 37 states.

Macy’s Mission Statement
• "Our goal is to be a retailer with the ability to see opportunity on the horizon and have a clear path for capitalizing on it. To do so, we are moving faster than ever before, employing more technology and concentrating our resources on those elements most important to our core customers."

Macy’s corporate vision:
• “Be a premier national omnichannel retailer with iconic brands that each operates outstanding stores and dynamic online sites.”
• In 2012 made $27.7 billion dollars with the largest amount of their revenue coming from women’s clothing.

Strengths:
-The Brand Itself
-The Macy's Thanksgiving Day Parade
-Brand Loyalty
-Conversion of several regional chains into the sole Macy's brand.
-Macy's Size
-Large Workforce 160,000+ people
- My Macy's

Weaknesses:
-The downturn of the economy for storefront shopping
- Lack of geographical presence
-International customers can only shop online
-The struggle of finding the medium between Bloomingdale's and Wal-Mart.

Opportunities:
- Make a greater geographical presence
-Buy out and eliminate smaller stores and brands
-Open new stores to boost revenues
- Develop more differentiated products

Threats:
- Being squeezed out of the market
- The recession
-The Untied States Government changing rules and regulations
-Increase of minimum wages


Both Macy’s and Dillard’s provide an in-store atmosphere that is designed to make shopping easy and enjoyable for customers.
Both stores play music for shoppers to enjoy and have merchandised displayed by departments.
They are both usually located near or attached to a mall.
Macy’s and Dillard’s both offer men, women, and children’s apparel, accessories, footwear, cosmetics, and home furnishings.

Key Competitor
Dillards

Dillard’s offers two types of reward programs: Dillard’s Card and Dillard’s Elite Card
Dillard’s Elite spend at least $2000 at the store every year and are rewarded with monthly bonus point offers, free gift wrapping, invitation to a private shopping event, priority customer service line
If they reach $5,000 in annual card purchases they receive their choice of a getaway.

One similarity that Macy’s & Dillard’s have are reward systems/store credit cards
Macy's Offers Three Types of Reward Systems
Preferred, Elite, and Premier Elite
Macy’s doesn’t offer any fancy benefits like Dillard’s (getaways, private shopping events, etc.)
The only special offer that Macy’s Premier Elite receive is exclusive shipping offers at Macy’s.com

Macy's Thanksgiving Day Parade
Dillard’s does not do any big advertising like this and cannot compete with Macy’s in this aspect.
Macy’s advertising, such as the Macy’s Thanksgiving Parade, their One Day Sales, and their shopper rewards cards, are paying off.
Dillard’s Card benefits will continue to attract customers to the store and help make loyal and frequent shoppers.

Recommendations
Americans produced 251 tons of trash in 2012
Include recycling bins along with trash cans
turning the lights off in empty rooms can save loads of energy when there are over 850 locations nationwide.
solar panels
sending mailing lists to target customers
By including companies that implement fair trade and biodegradable tags and packaging, their brand as a whole will be improved while also saving the environment
Questions?
Recommendations Continued
Make an option for customers to have a rewards card without having to have a credit card
If having the credit card is necessary, then give more benefits.
Having a credit card with a store is a pretty big commitment, make sure you are showing appreciation with better rewards to your customers.
Offering things like getaways and private shopping events would create even more customer loyalty
could also create new loyal customers
Full transcript