Macy’s is hoping to see success with the launch of a new marketing strategy. The company is also doing many stock arrangements, particularly that of private and restrictive brands.
It recently reported the dispatch of another effort brand, Avec Les Filles, by Joyce Azria. The new brand will be accessible in more than 150 stores and at Macys.com. This is an effort to improve Macy’s off-price retail model, which includes Macy’s Backstage, which was launched in 2015.
There are presently thirty-three Backstage locations, of which twenty-six are inside Macy’s stores. The Last Act clearance program for both women’s and men’s apparel departments has been rolled out chain wide. The organization is excited about opening more Backstage areas inside its stores for higher shopper activity.
“We see customers liking the everyday deep value opportunity being offered within our mall locations,” Macy’s CFO Karen Hoguet said on the company’s first quarter conference call. “We are testing a few variations of our strategy this year, but we believe from our tests so far that this will both add incremental spend from existing customers and also lead to the addition of new customers, and whichever model performs best this year, will be rolled out aggressively next year.”
Macy’s is also working towards opening other departments, such as fine adornments, watches, and shoes. The store is “still in the learning stages” regarding off-price retailing, and Jeffrey Gennette, Macy’s CEO and president, has accepted the high risk of cannibalization.
“At the end of the day, we hope we will have a viable off-price concept that is on-mall. It takes advantage of still a destination that millions of American consumers come to each and every day they come to a Macy’s,” Gennette previously said. “Now they can come and there’s a viable off-price concept. We think that could be a competitive advantage for us in that most of our ferocious off-price competitors are off-mall right now.”
What’s more, as different retailers purchase web based business players, as Walmart did with Jet.com, to fortify their computerized punch in the Amazon age, Macy’s may have its own arrangement in progress.
“We’re focused on getting twofold digit development on the web,” said Gennette. “Everything is on the table as for keeping the computerized development going.”