Let’s face it! Online shopping via Amazon and other retailers are dominating the consumer industry. People are enjoying the convenience of online purchasing. Once highly attractive retail stores like Macy’s are feeling the impact heavily.
Although still a popular retail giant, Macy’s, a national holding company, has closed hundreds of stores across the nation. Thousands of Macy’s employees have lost their jobs.
Founded in 1929, and Macys Inc.’s Headquarter is in Cincinnati Ohio. It is still a retail industrial giant to be reckoned with. It still operates over 800 stores and earns a net income of $1.072 billion in 2016, according to Wikipedia.
Top Retail Divisions: Macys and Bloomingdale
Macys Store Merchandise
- Apparel & clothing
- Beauty products
Macys Inc. also operates a chain of luxury beauty products, including stores and spas. The Quality of merchandise is what separates the famous retail brand from its lesser rivals: Kohls, JC Penny’s and Sears stores.
But although several stores have shut down in Minnesota and other places, I don’t think that Macy’s is done for as a popular retail attraction. The commitment to repositioning or restructuring its stores and resources is its key to sustaining its brand.
Through creativity and innovation, the struggling retail store must readjust to the increasing intensity of competition among industrial rivals who have successfully promoted the online shopping craze. Amazon will show no mercy.
Competition in terms of ranking
Macy’s brick-in-mortar store competition, including Kohls and JC Penny’s, are also struggling. However, Macy’s still outrank these retail stores. According to Deloitte, the retail giant was acknowledged as the largest retailer of fashion in the world.
Therefore, restructuring isn’t a sign of impending doom and gloom for an iconic retail name brand. To continue to outwit the competition Macy’s must reinvent itself by discovering new ways to adapt to changing consumer demands. The activity of restructuring is heading in the right direction.
“Is Macy’s Done for as a Retail giant?” The answer is no. The name brand is still strong, strengthened by industrial experience and know-how. Macy’s merchandise is still worth your investment and money. Quality, reliability, beauty and a great shopping experience are what you will find for the entire family.