Thesis Statement
Macy’s is considered as one of the largest department store retailer chains in the entire world that is known in the retail business (Grippo, 2008). This particular retail dry good store started creeping into existence on the corner of 14th Street and 6th Avenue in New York City during the year of 1858, in the hustling city known as the Big Apple in which the owner Rowland Hussey Macy started this business with only making eleven dollars and eight cents on his first day of actual business along with the logo that was a star from a certain tattoo that he received on himself during his employment days as a fisherman on a whaling boat/ship as a young teenager (Grippo, 2008).
Current Issues of Macy’s (Grippo, 2008) and (Macy’s, …show more content…
The shoppers/customers not shopping due to expensive process of merchandise
2. Macy 's has too many stores (856) across the world that are draining the revenue
3. Macy 's profit margins have become disastrous
4. $950,000,000 in debt
5. Closing of forty department stores across the United States
6. ROF 4, 800 employees
7. Misuse of confidential information in the HDR department
8. Losing business to discounters such as: Ross, TJMaxx, Marshall and etc.
9. Millennials (18-34) shoppers like to wear clothes which are from previous years at fraction of the price
10. Out-of-date Franchise in the eyes of the shoppers
Macy’s Problems (Grippo, 2008) and (Macy’s 2012):
Traffic - Macy 's does not give consumers a reason to visit its stores.
a. Poor merchandise or product
b. Lack any inspiration from advertisement
c. Fairly second-rate customer service
d. Lack of Capital Investment
e. Lack of basic shop-keeping standards
Loss of premiere positioning
a. lack of care from employee
Excessive discounting
Stock is steadily plunging in the negative mark
The company fail to met the overall financial goals set for the year
The indicators which are revealing that this company is ineffectively not using a …show more content…
• Balance out proposals which are not valid or show correct data.
Steps used in secondary Research processes (Stewart & Kamins, 1992) and (Mcquarrie, 2011):
• Pinpoint the topic area and where the information should come from
• Gather or collect the data/information which have already be explained and researched.
• Compare the data/information from different type of resources.
• Analyze all of data which have been researched or retrieved during the process.
The company can also use primary research as a concept that will then focus upon the gathering of data/information/statistical figures by analyzing all of the current sales relating to the profit margins and then through the steps of the current practices which are being implemented in the process which will also give you detailed information about your competition all neighboring department stores (Mcquarrie, 2011). Below is a list of ways or methods in which data can be collected for primary research (Mcquarrie, 2011):
• Surveys – online or mail
• Questionnaires – phone or mail
• Interviews – face/face or telephone
Macy’s is considered as one of the largest department store retailer chains in the entire world that is known in the retail business (Grippo, 2008). This particular retail dry good store started creeping into existence on the corner of 14th Street and 6th Avenue in New York City during the year of 1858, in the hustling city known as the Big Apple in which the owner Rowland Hussey Macy started this business with only making eleven dollars and eight cents on his first day of actual business along with the logo that was a star from a certain tattoo that he received on himself during his employment days as a fisherman on a whaling boat/ship as a young teenager (Grippo, 2008).
Current Issues of Macy’s (Grippo, 2008) and (Macy’s, …show more content…
The shoppers/customers not shopping due to expensive process of merchandise
2. Macy 's has too many stores (856) across the world that are draining the revenue
3. Macy 's profit margins have become disastrous
4. $950,000,000 in debt
5. Closing of forty department stores across the United States
6. ROF 4, 800 employees
7. Misuse of confidential information in the HDR department
8. Losing business to discounters such as: Ross, TJMaxx, Marshall and etc.
9. Millennials (18-34) shoppers like to wear clothes which are from previous years at fraction of the price
10. Out-of-date Franchise in the eyes of the shoppers
Macy’s Problems (Grippo, 2008) and (Macy’s 2012):
Traffic - Macy 's does not give consumers a reason to visit its stores.
a. Poor merchandise or product
b. Lack any inspiration from advertisement
c. Fairly second-rate customer service
d. Lack of Capital Investment
e. Lack of basic shop-keeping standards
Loss of premiere positioning
a. lack of care from employee
Excessive discounting
Stock is steadily plunging in the negative mark
The company fail to met the overall financial goals set for the year
The indicators which are revealing that this company is ineffectively not using a …show more content…
• Balance out proposals which are not valid or show correct data.
Steps used in secondary Research processes (Stewart & Kamins, 1992) and (Mcquarrie, 2011):
• Pinpoint the topic area and where the information should come from
• Gather or collect the data/information which have already be explained and researched.
• Compare the data/information from different type of resources.
• Analyze all of data which have been researched or retrieved during the process.
The company can also use primary research as a concept that will then focus upon the gathering of data/information/statistical figures by analyzing all of the current sales relating to the profit margins and then through the steps of the current practices which are being implemented in the process which will also give you detailed information about your competition all neighboring department stores (Mcquarrie, 2011). Below is a list of ways or methods in which data can be collected for primary research (Mcquarrie, 2011):
• Surveys – online or mail
• Questionnaires – phone or mail
• Interviews – face/face or telephone