Macroecinomic
Changes in economy and technology influence retail business just as they do other industries. Some of these changes have transformed the future of the retail industry. Current economic growth means a good retail environment. However, recent economic downfall had a very negative impact on the retail industry, as a result it will take a long time to return to the rapid growth the industry had before recession. On the other hand, recovering economy will stimulate consumer spending. (Ira Kalish, 2014)
In the recent years’ retail industry had its up and downs because of the latest recession and it improved when the economy got better. However, as the chart below shows it’s still not as strong as it used to be.
Also the popularity …show more content…
Moreover, for retailer like Macy’s that sells fashion items and furniture at affordable price is very hard to differentiate itself from other sellers. However, Macy’s is always enhancing customers shopping experience by using new technology and innovation. For example, Macy’s is the first retail store to support mobile payment system, which is very convenient. Also the company in order to improve e-commerce and not to loss its shoppers to online vendors such Amazon is implementing same day delivery in selected cities (Loeb, 2014). Amazon is not the only one competitor that Macy’s faces. It has numerous rivals, which likely has a negative effect on its sales. According to Blomberg magazine Macy’s had some significant sail decline in 2015. At the same time the biggest Macy’s rivalry, JC Penny is on its way up with improved sale record. JC Penny is recovering from the unsuccessful attempt to redesign the store in order to attract more costumers. As the article describes Macy’s is also “struggling to differentiate its offerings from rivals like JC Penney. The latter, under new leadership, has revived sales by restoring its promotions, bringing in better private brands and offering more beauty products through a partnership with Sephora.” (Banjo, 2015) Similarly Kohl’s in order to attract more costumers currently is trying to offer more high end beauty …show more content…
According to Tech Times Macy’s is constantly striving to improve shopper’s experience. As a result, the company implemented same day delivery policy with intention to lure more costumers who shop online. Amazon was the first company who offered this service, but Macy 's soon saw it as an opportunity to increase its sale. Therefore, the company offers same day delivery in cities such as Chicago, Houston, Los Angeles, New Jersey, San Francisco, San Jose, Seattle and Washington. Macy 's controls 886 stores, which means the company offers delivery of goods to their costumers from 886 different locations. Whereas Amazon has only 50 fulfillment distribution centers. That situation creates a competitive advantage for Macy’s company. Also should be pointed out that Macy’s only charges it’s customers $5 for delivery. (Geddes,
Changes in economy and technology influence retail business just as they do other industries. Some of these changes have transformed the future of the retail industry. Current economic growth means a good retail environment. However, recent economic downfall had a very negative impact on the retail industry, as a result it will take a long time to return to the rapid growth the industry had before recession. On the other hand, recovering economy will stimulate consumer spending. (Ira Kalish, 2014)
In the recent years’ retail industry had its up and downs because of the latest recession and it improved when the economy got better. However, as the chart below shows it’s still not as strong as it used to be.
Also the popularity …show more content…
Moreover, for retailer like Macy’s that sells fashion items and furniture at affordable price is very hard to differentiate itself from other sellers. However, Macy’s is always enhancing customers shopping experience by using new technology and innovation. For example, Macy’s is the first retail store to support mobile payment system, which is very convenient. Also the company in order to improve e-commerce and not to loss its shoppers to online vendors such Amazon is implementing same day delivery in selected cities (Loeb, 2014). Amazon is not the only one competitor that Macy’s faces. It has numerous rivals, which likely has a negative effect on its sales. According to Blomberg magazine Macy’s had some significant sail decline in 2015. At the same time the biggest Macy’s rivalry, JC Penny is on its way up with improved sale record. JC Penny is recovering from the unsuccessful attempt to redesign the store in order to attract more costumers. As the article describes Macy’s is also “struggling to differentiate its offerings from rivals like JC Penney. The latter, under new leadership, has revived sales by restoring its promotions, bringing in better private brands and offering more beauty products through a partnership with Sephora.” (Banjo, 2015) Similarly Kohl’s in order to attract more costumers currently is trying to offer more high end beauty …show more content…
According to Tech Times Macy’s is constantly striving to improve shopper’s experience. As a result, the company implemented same day delivery policy with intention to lure more costumers who shop online. Amazon was the first company who offered this service, but Macy 's soon saw it as an opportunity to increase its sale. Therefore, the company offers same day delivery in cities such as Chicago, Houston, Los Angeles, New Jersey, San Francisco, San Jose, Seattle and Washington. Macy 's controls 886 stores, which means the company offers delivery of goods to their costumers from 886 different locations. Whereas Amazon has only 50 fulfillment distribution centers. That situation creates a competitive advantage for Macy’s company. Also should be pointed out that Macy’s only charges it’s customers $5 for delivery. (Geddes,