Find in the news:
BY COUNTRY

Macy’s Ready To Ramp Up Competition With Off-Price Chains



Macy’s has been slowly rolling out its off-price brand in select locations.
Over the past few years, one segment of the retail industry has been making some significant headway - and we’re not just talking about online retail giant Amazon. Off-price chains like TJ Maxx, Marshall’s and Ross have found the sweet spot with consumers: appealing fashions being sold at reasonable prices in a welcoming atmosphere. That simple strategy has not gone unnoticed by other retail heavyweights, and at least one of them is preparing to encroach on their turf.

Macys Backstage Mall

Over the same time frame, Macy’s has been slowly rolling out its off-price brand in select locations. Macy’s Backstage originally started as a standalone concept, but it has evolved to become a dedicated section in the company’s other stores as well. The company is ready to ramp the concept up, and another 30 of those types of locations are expected to open up by the end of the year. 

"We hope that by the end of 2017, what we're going to exit with is a viable off-price concept that is on-mall, not off-mall like our ferocious competitors," explained Macy's new CEO Jeff Gennette. 

While it may seem counter-productive to offer up a dedicated discount section in the midst of all of your other sale items, Gennette notes that the impact has been quite the opposite. For each Macy’s store in which the concept has been tested, the performance of the overall store has improved. 
 
"It wins if we get an extra purchase. It wins if we get another visit. And it is a home run when you get a new customer," he said.  

Nonetheless, critics are quick to point out that Backstage may pull attention away from the retailer’s full priced goods, but Gennette counters by explaining that Backstage features items that pertain to either new categories or different brands entirely from what Macy’s regularly offers. 

In other Macy’s news, there has been a ton of talk of late about Macy’s extensive real estate portfolio and what lays ahead for the venerable retailer. Gennette is taking steps to address that, and the company is being proactive by opening its doors to even more brands and stepping up its game on the experience front by offering exciting new dining options. 

"These stores are being reengineered for the new century and the new generation," says Dana Telsey, CEO of the Telsey Advisory Group. 

Related shopping malls and stores:

More about shopping malls in the USA



Jun 10, 2021, USA:
The National Retail Federation predicts the market will experience the kind of rapid growth "the country hasn't seen since 1984.
Jun 9, 2021, USA:
Several Microsoft experience centers leftover from what was once a large chain of stores will offer more information and the opportunity to buy the company's technology.
Jun 7, 2021, USA:
The billionaire announced that he would fly into space on his own company's ship. The estimated date of flight is July 20th.
Jun 4, 2021, USA:
The three-level retail space in New York City spans about 2,000 square meters.
Jun 4, 2021, USA:
A mall owner has sued Victoria's Secret, saying the company closed the store without paying rent.
Jun 3, 2021, USA:
The company is entering a new market in hopes of recovering from the pandemic.
Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us