With Macy’s developing an online marketplace, it’s so far, so good. Macy’s launched its marketplace last September after noticing consumers searching the retailer’s website for products and categories that weren’t there.
Now, with the digital marketplace, “We are learning and testing new categories without the inventory risk. It’s a huge unlock for us.”
With the traditional website, “there is much operating expense to move products through our own supply chain. In marketplace you can have slow movers and it’s OK.…It’s really a great opportunity for us to monetize the traffic on our website. With marketplace, we don’t have the inventory liability, but we have the opportunity to have the sales demand. That gives us a lot of flexibility to really lean into the notion of sku productivity.
He defined Macy’s “modern department store positioning” as offering “multiple categories, serving a diverse group of customers and building capabilities for the next generation. Our recent success is not an accident. We are executing on our Polaris strategy. We are deliberate about paying down debt, returning value to shareholders. Inventory control is key. Pricing science has served us really well and continues to serve us well this holiday.
In terms of consumer shopping patterns, “We think it’s more pre-pandemic,” this year. “You would expect to have a peak around Black Friday, a peak around Cyber Monday and a peak kind of two weeks leading up to Christmas.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Jack Henry & Associates Inc.🏆 Congratulations to The Dallas Morning News Top 100 Places to Work 2022 winner JackHenryAssoc! DMNTop100PlacestoWork 🔎 Company profile: 🔝 💯 The Top 100:
Read more »
Beauty Inc Awards: The 2022 Brands of the YearIn the mass market, E.l.f. turned in one of the year’s top performances. Likewise, MAC jumpstarted the prestige market with a combination of cutting-edge products and a revamped approach to the in-store experience. Here are the 2022 Brands of the Year.
Read more »
Hailey Bieber, Jo Horgan, Pat McGrath Among 2022 Beauty Inc Awards WinnersThe 2022 Beauty Inc Awards celebrated the year’s standout innovations, launches and industry leaders. See the full list of winner's here.
Read more »
The 2022 Beauty Inc Awards: The Biggest Deals & Boldest Beauty Executives of the YearHere, the winners of Brand Builder, Newsmaker, Wellness Award, Corporate Social Responsibility and Transformational Deal of the Year.
Read more »
Charles Schwab & Company Inc.Benefits include a 401(k) plan with matching contributions, a bonus plan, employee stock purchases and sabbaticals for eligible employees after five years of...
Read more »
MercadoLibre in talks with WhatsApp on business messaging payments -CFOLatin American e-commerce retailer and fintech firm MercadoLibre is in talks with Meta to process payments for its WhatsApp messaging service starting in Brazil, the company's chief financial officer told Reuters on Wednesday.
Read more »