On one level, I get the attention paid to retailers’ quarterly reports. So when Macy’s missed on sales expectations and cut its full-year profit outlook recently, it wasn’t surprising that many analysts glommed on to how it was the iconic retailer’s first same-store sales decline in seven quarters, or to CEO Jeff Gennette’s lame weather-related excuses. Yet whether … Continue reading A slightly better version of mediocre will not be Macy’s salvation
While the overwhelming majority of retail involves a transfer of ownership from seller to consumer, renting products is hardly a new concept. The so-called rent-to-own industry is large and well-established, led by companies like Rent-A-Center. This market sector mostly focuses on lower income and highly transient populations, while featuring big-ticket items like appliances, home electronics and … Continue reading Retail’s new rush to rent
As it turns out, reports of Toys ‘R’ Us’ death may have been greatly exaggerated. The iconic toy retailer—which filed for bankruptcy in 2017 after piling up more than $5 billion in debt—closed its more than 800 U.S. doors and seemed destined for the retail graveyard. Yet last week, Toys ‘R’ Us’ new parent company (Tru … Continue reading The toys are back in town: A reimagined Toys ‘R’ Us returns
L'Occitane new experiential retail concept store in New York I keep reading that success in retail today is all about the experience. Some retail influencers whom I cross paths with on the conference circuit often anchor their talks on some variation of customer experience being "the new black." Whether I'm working with clients or fielding questions at one … Continue reading So now retail is all about the experience? Just what the heck does that mean?
Macy's just launched Story concept shops in 36 stores across the United States. The new "narrative-driven retail experience" occupies about 1,500 square feet in most stores. The move comes less than a year after Macy's acquired the Story brand and made its founder, Rachel Shechtman, its brand experience officer. This is the latest step in Macy's attempts to become more … Continue reading Will Story help Macy’s launch an exciting new chapter?