"Our goal is to be a retailer with the ability to see opportunity on the horizon and have a clear path for capitalizing on it. To do so, we are moving faster than ever before, employing more technology and concentrating our resources on those elements most important to our core customers. "
-macys mission statement http://company-statements-slogans.info/list-of-companies-m/macys.htm
The concept of most Macy's products is to have the best quality materials for cheap to satisfy thier consumers needs. This is why they have name brand products for cheap. It targets the people who has expensive taste but could purchase for less.
-Strong brand equity.
-Bloomingdale's focus on an upscale niche.
-Large network of stores.
-Declining net profit
-New stores to boost revenues in the medium term.
-Growth through overseas operations.
-Growth in online retail spending.
-Economic slowdown in the US.
-Increased minimum wages in the US.
1.Multicultural is a key element of Macy's advertising campaigns they are a way for the company to tailor thier name brands and product offerings to thier diverse customer segments through targeted media.
2.Communicating with thier customers in a manner they prefer and appreciate and creating an deep and lasting relationships with customers.
3.Targeting consumers who wants name brands for cheap.
4.Wanting to increase mobile subscriptions, encourage consumers to visit their retail stores and their Web site and increase sales. Also they expand customers communications from online and email to mobile.
I recently went to Macy's and they were very helpful, not only to me but to every diverse person in thier. They greet you once you enter the store. While helping you they call you by your name to create a relationship with you. This is good because it makes the consumer comfortable and have them willing to come back for more shopping. Macy's makes your shopping experience worth it with all thier sales and name brands for cheap.
Believe this Christmas Eve at Macy's.
PROJECTION FOR MACY'S PRODUCTS FOR 2012
SUMMARY & STRATEGY FOR LONG TERM SUCCESS
"Our goal is to be a retailer with the ability to see opportunity on the horizon and have a clear path for capitalizing on it. To do so, we are moving faster than ever before, employing more technology and concentrating our resources on those elements most important to our core customers. "-Is Macy's Mission statement and in order to continue going by this they have to continue the great service and develop new products. Macy's is a diverse company that has a wide variety of goods for just about any consumer.Paying more attention to their target market may increase sales since, they are constantly expanding their ideas and goods throughout the store. Eventhough they have a wide variety of items, they are really expensive. They're going to have to improve their prices due to this bad economy or they wont make big sales. Macy's is going to struggle if they dont have atleast a decent price range on their items. Every year fewer people shop at Macy's on one of the biggest time of the year Christmas. This is a sign either their prices go down around that time or no customers. Other than that Macy's is a well processed organization with the rite ideas leading to a good outcome.