More and more attention is paid to internet retail sales numbers for “Black Friday” and beyond. Thanks to a family member, I was tipped off to a Bloomberg wire article via nj.com regarding the return of “My Macy’s” for the legacy retailer’s holiday push. You can see the article here (http://bit.ly/cgwUyi).
This is a fascinating look at the re-launch of a campaign which started in 2008. I commend Macy’s management for empowering its buyers to look in their own regions and show the flexibility to bring the customer what they want. Using sales analysis to determine a campaign direction is usually sound.
What I am interested in is the reliance on a brick and mortar metric like same store sales for the basis of moving the needle. Of course, any retail forecaster will relate to the comment about what a 3.5% difference means in real dollars.
But with small locally based specialty shops that are part of downtown revitalizations and the ever present Internet sales channels at the ready, can this approach mean the same it used to.
I offer this opinion: Boomers still represent a large share of the disposable income. Moreover, ethnic shoppers (as referenced in the article) are a growing group that also has historically high buying power.
Is it possible that these age groups, although embracing the online convenience more each day, still want the comfort of the department store they remember from holidays past? Tough to say….it’s an opinion. What do you think? Is “My Macy’s” still viable from a marketing perspective? Post your comments and thanks for reading.