After closing nearly 70 stores earlier this year, Macy’s says it’s focused on investing in remaining locations to make your experience as a customer so much better.
And we’re just now learning about several big changes the retailer is making to lure shoppers back.
Changes are coming to your local Macy’s
At a recent industry conference, Macy’s president and CEO Jeff Gennette admitted that “department stores have to get better” to turn things around.
“We have customers that love us, and then we have a lot of customers that we may have disappointed, but they want us to win,” Gennette said.
Read on to learn about five ways Macy’s is evolving in 2017:
1. Simplified coupons
You may love the coupons that you receive in the mail from Macy’s, but Gennette is well aware that customers don’t like the exclusions.
In his words, vendors “hate” being part of coupons. That explains the exclusions.
As a result, the retailer has been experimenting with Macy’s Money, which provides customers a $10 reward card for every $50 they spend – like Kohl’s Cash.
But Gennette added, “We’re always going to have coupons.”
2. Focus on off-price merchandise
As traditional department stores continue to close hundreds of stores, discount chains like T.J. Maxx, Marshalls and Ross just keep growing!
So don’t be surprised if your Macy’s begins to resemble those off-price chains.
For example, Gennette said stores are adding a “Last Act” area full of second and third markdowns – with no additional coupons allowed.
It started with apparel, but the concept is being rolled out into other categories.
Meanwhile, the company is expanding its discount chain, Macy’s Backstage, to several dozen existing full-price locations. Backstage merchandise is 20% to 80% off.
Bottom line: There will be new options for bargain shoppers!
3. More self-service options
Your local Macy’s may soon have a shoe department that looks more like a mini-DSW!
To save money, the retailer began testing self-service in the shoe department, so customers no longer have to wait for an associate to fetch shoes for them.
Company executives say the test has gone very well, which is a key sign it’ll be added to other stores.
4. Leasing space to other retailers
Something else that’s working for Macy’s is leasing out some of its massive retail footprint to smaller retailers, including LensCrafters.
Gennette described this particular initiative as a “home run” for Macy’s.
Having a LensCrafters within a Macy’s brings more traffic into the building. The company would like to add them to 500 stores, but they can’t find optometrists fast enough.
Seriously, that came straight from Macy’s president and CEO!
5. Buy online, pick up in store
Gennette said one bright spot for Macy’s has been its digital growth, but the company has some work to do with its “buy online, pick up in store” service.
This offering is so crucial because customers may purchase additional merchandise when they get to the store.
No specifics were provided about how Macy’s plans to step up its game in this area, but we did notice a special coupon for shoppers who buy online for pick up.