Macy’s operates around 900 stores in 45 states, the District of Columbia, Guam and Puerto Rico under different names including Macy’s, Bloomingdale’s, Bloomingdale’s Outlet, Macy 's Backstage and Bluemercury, as well the following websites macys.com, bloomingdales.com and bluemercury.com ("About Us - Macy’s, Inc."). As a large well rounded company Macy’s has a long history and is full of innovative ideas for the future. Aside from its financial strength in its large number of stores, and great ideas for the future, they provide employment for approximately 166,900 people ("About Us - Macy’s, Inc."). Currently Macy’s, Inc. is one of the nation’s leading omnichannel retailers, with 2014 having fiscal sales of $28.1 billion ("About Us - Macy’s, Inc."). To put it simply, Macy’s is a long lived company built from the ground up, slowly and steadily, not only always one step ahead of the game but always accounting for the cost of growth and is still growing to this day. R.H. Macy & Co. was founded by Rowland Hussey Macy (Hanson). In 1822, R.H. Macy was born to a shopkeeper. At 15 Macy set sail on a whaling ship, only to Macy & Co. went public, opened many stores, as well as taking over many competing retail outlets and in 1994 it was taken over by Federated Department Stores. Federated Department Stores had hundreds of stores across the nation, and with the purchase of Macy’s became the largest department store retailer in America. In 2007, Federated Department Stores changed its corporate name to Macy’s, Inc., and currently has over 800 stores nationwide (Hanson). 1997 Macy.com was launched broadening the company’s reach. Some of Macy’s latest ingenuities include same-day delivery in eight markets, in store pickup for online purchases and apple pay (Hanson). My Macy’s was launched in 2009, it was an industry leading strategy to customize each store based on the local community’s needs ("Macy 's History Highlights Innovations,
Macy’s intended to deliver enhanced shopping experiences to its consumers through dynamic department stores and online sites. In this regard, the company developed a North Star strategy that allows it to improve its sales growth and to develop its existing core activities. The company’s consumer research monitors, analyze and anticipate their needs and wants based on the changing market trends. This allows it to strengthen its customer base and also helps it in identifying new markets and customers. Macy’s also identifies different styles and designs based on various occasions and events that allow it to capture the changing preferences of its customers. The company also celebrates various iconic events to interact with its customers which
They have over 678 stores in the United States.The person who first started it his name is
Present day Federated consists of both Bloomingdale’s and Macy’s stores and operates in 34 states as well as Guam and Puerto Rico. While Bloomingdale’s and Macy’s provide both private and national brands and are similar in merchandising categories (men’s, women’s and children’s apparel, home décor, shoes, beauty, and accessories), they differ greatly in culture. Bloomingdale’s, being more upscale, targets consumers that are more concerned with trend and quality than they are price. Macy’s targets the more value oriented consumer and represents a broader Federated clientele. Macy’s represents 423 of the 459 Federated locations while Bloomingdale’s represents only 36 locations. Because I can better relate to the value conscious consumer of the Macy’s division and because they represent such a large portion of Federated, I will further explore their current characteristics and behaviors that suggest that they possess qualities of both monopolistic competition and oligopolies.
Nordstrom is one of the top retailers in the United States. With a solid brand image and a sound financial situation, Nordstrom is relentless in their expansion in the US, and are beginning to expand into international markets. Nordstrom takes pleasure in providing state of the art client support and having experienced sales people. In order to hold their position as the most successful high-end retailer in the United States, Nordstrom must continue to figure out ways to improve their brand image and customer satisfaction. Nordstrom’s current business working strategy is successful but I believe there are a few ideal solutions that the organization could apply to further enhance the organization. Due to the aggressive characteristics of the fashion retail store market, it is crucial that Nordstrom preserves an aggressive advantage providing the highest level of customer support as possible.
This article is about Jim Sinegal who is co-founder and ex- CEO of Costco. Sinegal was one of Sol Price’s top lieutenants. Sol Price was founder of FedMart and Price Club. Price Club’s business model was that products should only be marked up by a limited amount, in the belief that retailers added only limited value. Sinegal brought the price club model to Washington in 1983 to start Costco with a local attorney Jeff Brotman. Sinegal had the vision to identify and select the appropriate method to pursue their goals like the membership program. Customers who want to shop at the store must buy a membership (currently $55 the basic one and $110 the executive this one provide the reward program). This is an excellent strategy because eighty percent
A very lucky few, such as the Straus family who owned Macy's (bought in 1887), Lyman G. Bloomingdales who started Bloomingdales (1872) and the Altmans of B. Altman & Co (1865). (Hendrickson 66, 105 & 159). Many of the enormous department stores which Americans and the world cherish so much, started from theses poor Jewish German immigrants. These stores, such as Bendels, A&S and Gimbels helped established New York City as one of the top four fashion capitals of the world (Ellecanada). They moved to cities with a big population with many job opportunities because "The Jews were men who act...
The company 's stores under the Bloomingdale 's brand offer high-end customers an assortment of established brands such as Armani, Burberry, Christian Dior..." (Bailey, 2015). "Macy 's target consumers include Millennials (and) the company has launched several collections aimed at Millenials" (Bailey, 2015). Macy 's plans to shape its products according to customer 's ethnicity and race. The company plans to enter the Hispanic fashion market, as "Hispanics account for about 17% of the US population" (Bailey, 2015). Macy 's launched a strategy known as the My Macy 's strategy. Through the My Macy 's strategy the company styles products at each of its current stores to the needs of its customers. The My Macy’s localization strategy is a focus strategy used by Macy’s, Inc. Through this strategy the company targets specific consumers by tailoring its products and inventory to the customer’s needs. "It is a localization tactic which accelerates the sales of its stores" (Schoneberger, 2012). Analysts at Boston Consulting Group have advised that Millennials, individuals between the ages of 16 and 34, will account for $1.3 trillion in annual
In addition, the letter addressed how the 2013 economic downward spiral in the United States caused consumers to purchase discounted products from Family Dollar. The CEO pointed out that this economic uncertainty resulted in an increase of “net sales by 11.4% for 2013 in comparison to the previous fiscal year and recorded operating profit of $688 million, a 3.6% increase (www.sec.gov) ”. Also, this letter explained that “830 Family Dollar stores were selected to be either renovated, relocated, or expanded (www.sec.gov)” so that the organization can continue to be competitive. Its focus is to provide a better shopping experience that appeal to a broader customer base. In hopes that this re-branding...
JCPenney is a chain of American mid-range department stores that is based out of Texas that started over 100 years ago. JCPenny has been successful for most of its time up until the last three to four years. The company is trying relentlessly to overcome the lingering effects of the makeover that former CEO, Ron Johnson, had implemented in order for the company to take a new direction in hopes of increasing sales. The new CEO, Myron Ullman, has taken a close look into the markets demographic segmentation along with the income segmentation in order to attempt to return the retailer back to its old self, which is to appeal to middle-market customers. A couple issues of major concern for the company are the dissolving of Johnson’s Boutiques, the price of their products, and overall revenue.
Ogilvy was founded in 1948 by British ad pioneer David Ogilvy who now stands as a legend within the advertising world. After being out of advertising for ten years, Ogilvy started his own agency which was financially assisted by his brother Francis. S. H. Benson Ltd., another London shop, also invested $45,000, but insisted that Ogilvy hire someone who knew how to run an agency. Ogilvy appointed himself vice president in charge of the business opened as Hewitt, Ogilvy, Benson & Mather (HOB&M) and hired Anderson Hewitt from J. Walter Thompson to be the president,
Ralph Lauren is an American fashion designer philanthropist, and business executive, best known for the Ralph Lauren Corporation clothing company, Ralph was born as Ralph Lifshitz in year 1939 in New York City. Ralph Lauren started in 1967 under the name of Polo Ralph Lauren, until he expended his designs. Polo Ralph Lauren based on American style leader in luxurious, sophisticated fashion and Striking a balance between “timeless” and “modern” style and to make his full line more impeccably crafted the new sportswear is born. And finally in 1970 Polo Ralph Lauren released a line of women 's suits tailored in a classic men 's style.
H&M is the world’s second largest retailer, only behind its main rival Zara of Inditex (Petro, 2012). The company currently has 3006 stores in 53 countries. The company does not own any factories. H&M outsources production to network of 800 independent suppliers; 75% in Asia and 25% in Europe. In order to increase the efficiency and productivity of its supply chain, the company strategically locates its network of 20 to 30 production offices close to its suppliers. According to Stockholm Newsroom, the pretax profit of the company for the month of June to August of 2013 is $907 million, which indicates an 11 rise in turnover (Pollard, 2013). The company continuous development plan facilitates its goal for both brick and mortar, and online stores expansion worldwide. The target segments for H&M, a category specialist store, are trendsetters and fashion/money conscious males and females ranging from 16 to 40 years old with income ranging $15,000 to $60,000 annually.
Costco Wholesale is a multi-billion dollar overall retailer with dispersion focus club operations in eight countries. They are the apparent pioneer in wholesale field, dedicated to quality in every zone of their business and respected for their unprecedented business ethics. Despite their immeasurable size and extension in overall improvement, they have continued giving an agreeable domain which their laborers thrive and succeed.
Nordstrom’s product offerings are not only of the best quality available, but are also presented in a fashion appealing to customers. The reputation Nordstrom has built in the industry has sustained their success for over a century. Nordstrom’s further expects to enhance their company philosophy in the future by implementing additional differentiation tactics that will continue their market dominance in highly volatile economy.
who owned small department stores and large discount store chains. In 1978, after filing bankruptcy, the company edited its name to Toys “R” Us, Inc. In 1994, Charles Lazarus resigned as CEO and chairman.