Dallas, Texas 01/02/2014 (FINANCIALSTRENDS) – Macy’s, Inc. (NYSE:M) , has proved that it knows how to do it best. In the past quarter Macy’s innumerable initiatives, coupled with robust festive season sales have ensured that the chain-store sets an example on pure play.
It began with a store-specific merchandize program called My Macy’s which has largely improved the productivity of each of its stores, besides increasing the same-store sales. Macy’s has used market feedback to ensure that each of its stores has products specific to the location of the store. Therefore, the same brands of apparel would run in shorter sizes or footwear would be different size tailored to local communities over the same size in each of its shops pan-country.
In the past five years, this is one of the major marketing strategies which every other retailing chain is hoping to learn from. Where Macy’s Inc. ( NYSE:M) has an advantage, when working vendors is the fact, that it is one of the largest buyers, and therefore in the interest of the vendor to bring-in additional seams on a dress or offer large-sized products. The largest-buyer tag has also brought in high dividends for this retailer as it wins on bringing out exclusive products.
Macy’s Inc. ( NYSE:M) has also admirably reworked its access and retailing opportunities by adopting the Omnichannel – cross platform sales, which includes online, store-fronts as well as mobile access had definitely brought in periphery buyers into direct interaction with the store.
The turnaround for Macy has also been because of a third feature- MAGIC, a customer-employee strategy which aims at personalized servicing of the knowledgeable buyer. The employee engagemet with the client is boosted with the MAGIC guidelines brining greater satisfaction to the buyer and higher positivity to the employee. Macy’s has ridden the turnaround, with technology and business intelligence. The continuing development on the infrastructure front and employee engagement has definitely added to effective turnaround for the company!