Macy’s Case Study Solutions
Rowland H. Macy founded R.H. Macy & Co in 1858. It started as a fashionable dry goods store. Macy’s made a sale of $11.06 on its first day of operation. However, it made a $90,000 sale at the end of the year.
It is how a revolutionary industry started. With a lady CEO, it brought about a change in the fashion retail industry. It launched several new products in the industry including colored bath towels, Idaho baked potato, and tea bags. Likewise, it was the first retail industry to get a NY liquor license, which gradually boosted their sales.
By 1902, the store became so large that it had to be shifted to Herald City. Covering an area of million square feet, it became the largest store all over the world.
Xavier Warren founded Macy’s, Inc (aka Federated Department Stores) in 1929. Federated acquired Lazarus, Abraham & Straus, Shillito’s, and Filene’s at the same time. Federated took over Bloomingdale’s in 1930.
Before renaming Macy’s Inc, it had over 400 departmental and more than 157 specialty stores across 37 stores. Macy’s is known for its thanksgiving parade that started in the year 1924. Currently, it is known for being the largest retailer selling men’s and women’s fashion wear, gourmet foods, shoes, bedroom, and bathroom accessories, and more. It also sells toys, games, clothes, and accessories for kids.
Integration in the case study of Macy’s
Macy’s has shown Horizon integration. In the 20th century, it acquired departmental stores like Davison’s in Atlanta, John Taylor, and company in Kansas City, O’Connor Moffat, and company in
By 1994 Macy’s merged with Federated Department of Cincinnati, of which Federated became the parent company of Macy’s. The Goldsmith in Memphis, Rich’s and Davison’s In Atlanta, Bon Marche in Settle were converted to Macy’s by 2005.
Marketing Mix includes five variables that the management team has to look after and control so that it can improve the customer experience. Those variables are also known as the 4 Ps of marketing that includes Price, Product, Place, Promotion, and People. Here in this Macy’s marketing strategy 2021, we will discuss each element of the marketing matrix.
Macy’s Product Mix
Macy’s is a departmental store and offers a comprehensive range of products. It has products for almost all age groups. It sells products from Ralph Lauren, Calvin Klein, Adidas, Nike, and Levi’s. The vast product portfolio of Macy’s include:
- Kitchen cutlery, cookware and gadgets, and home essentials.
- Cleaning items, furniture like sofa, chair, beds, gourmet food, desserts, and chocolates.
- Products to use in bedrooms and bathrooms like Quilts, comforters, linens, blankets, bath towels, beach towels, mattresses, and pillows.
- Macy’s offers products for ladies including swimwear, sweaters, rompers, shirts, suits, jackets, activewear, gloves and handbags, maternity clothes, watches, and more.
- Macy’s offers Products for gents including Jeans, shirts, gloves, hoodies, designer clothes, undershirts, formalwear, sneakers, suits, polos, t-shirts, boots, designer shoes, backpacks, wallets, belts, and ties.
- Macy’s offers products for kids include activewear, socks, pajamas, pants, jeans, shoes, jackets, dresses, innerwear, coats, skirts, shirts, hats, scarves, toys, backpacks, tops, and games.
Price in Marketing Mix
Macy’s had estimated revenue of 27.079 million dollars and a net income of $1.072 million. The mid-range departmental store aims at serving upper-middle, and middle-class individuals. It adopted a competitive pricing policy and kept the product price reasonable in Macy’s marketing budget. It also adopted a promotional pricing plan for e-commerce stores.
It kept on offering incentives periodic sales, constant sales, festive sales, special discounts, coupons, and discounts to the customers.
Macy’s Inc operates over 45 locations in Gum, the United States of America, and Puerto Rico. It has over eight hundred and eighty-five stores. Macy’s further divided into subdivision easy handling for efficient and easy handling.
Macy’s North has its headquarters in Minnesota, Macy’s South and Central have 136 outlets and their headquarters are located in Atlanta. Macy’s East Includes 216 outlets and the headquarters is located in New York City. Macy’s Southwest 360 has a total of 95 outlets. The headquarter is based in Missouri.
Macy’s Northwest has a total of 71 outlets with its headquarters located in Seattle. Macy’s West has a total of 231 outlets, and the headquarter is based in San Francisco.
Macy’s has Flagship Stores are located in Dubai and Paris. The distribution channel of Macy’s include partially-owned and fully-owned stores, Leased Store, Corporate offices, and logistic network.
Promotion Strategy followed by the Macy’s
According to Macy’s advertising strategy, the company launched several advertisement campaigns and utilized marketing strategy Print and electronic media on radio, television, magazines, and newspapers. It also maximizes the benefit of social media from macy’s marketing research team and improves its brand awareness through the official website.
It also made use of Twitter, Facebook, and YouTube videos.
Macy’s offers a catalog to its customers so that they get to know the products and exciting deals offered by the Departmental Store. Macy’s also Offers loyal customer information through customized emails. Launched a Loyalty program for the customer and issued 1.4 million credit cards that resulted in further saving.
The Departmental Store has a huge presence both offline and online. It also offers same-day pickup facilities on online purchases. Being a Departmental Store it is present across a cross-section of people.
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