Macy’s is right where the rubber meets the road in a world that’s seen mall stores continue to struggle and retail try to reinvent itself.
Here’s a look at what the iconic retailer has in store for 2018 as it tries to right its ship.
Look for these changes coming to your local Macy’s
1. “The Market @ Macy’s” pop-up stores
Consumers love the treasure-hunt element of shopping — never knowing what great deal on unique merchandise they’re going to unearth each time they walk into a store.
To bring back some of that excitement, Macy’s is readying a new pop-up concept called “The Market @ Macy’s” at select locations.
“The Market @ Macy’s” will dedicate floor space to a smattering of local brands and companies who want the brick-and-mortar presence Macy’s offers. And it will give Macy’s new insight into what hot trends their customers want to buy.
The program launches February 12 in 10 cities, including at the Herald Square flagship in New York, Boston, Las Vegas and Fort Lauderdale, Florida.
2. Continued leasing of space to established retailers
Look for Macy’s to continue the trend it began in 2017 of leasing out more of its massive retail footprint to established smaller retailers, including LensCrafters.
CEO Jeff Gennette describes this particular initiative as a “home run” for Macy’s. The goal is to add LensCrafters and other retailers to 500 stores.
3. Macy’s is breaking up with Plenti
Macy’s plans to exit this free rewards program on May 3, according to a brand-new message on the Plenti website.
Shoppers will be able to earn Plenti points on their Macy’s purchases through March 15, and they’ll be able to redeem points at Macy’s all the way up until May 3.
After May 3, any points that remain will have to be redeemed for savings on eligible purchases at participating Exxon and Mobil gas stations, Rite Aid stores and BI-LO, Winn-Dixie, and Harveys supermarkets.
4. Macy’s is launching a new “modest” clothing line
Beginning February 15, Macys.com will feature clothing from a new line called Verona.
The “modest clothing brand” will include dresses, tops, cardigans, pants and hijabs in a variety of colors and fabrics.
The target audience is young upwardly mobile U.S. Muslim consumers.
5. Another dozen stores are set to be shuttered this year
Macy’s was beset by 68 store closures in 2017, but the axe is not done falling yet.
As part of a previously announced plan to close approximately 100 locations, Macy’s recently announced the 2018 closure of another dozen locations:
- Laguna Hills Mall, Laguna Hills, CA
- Westside Pavilion, Los Angeles, CA
- Novato (Furniture), Novato, CA
- Stonestown Galleria, San Francisco, CA
- The Oaks, Gainesville, FL
- Miami (Downtown), Miami, FL
- Magic Valley Mall, Twin Falls, ID
- Honey Creek Mall, Terre Haute, IN
- Birchwood Mall, Fort Gratiot Township, MI
- Fountain Place, Cincinnati, OH
- Burlington Town Center, Burlington, VT
Clearance sales are currently underway at these locations through late February/early March.
RELATED: 2018 retail store closing list
Money expert Clark Howard’s take on Macy’s closings
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