Macy's:
“Digital Transformation” is done. You had 15+ years to get through that. If you’re still not done I have no sympathy. We’re moving on to Anthropocene Transformation. The clock started in January.
https://www.ageoftransition.org/the-anthropocene
A lot of companies maintained a digital presence as a sideshow or extra convenience for their customers, but all data showed the physical experience to be their main interface and so found that digital had little adoption. The distribution advantage for them was a non-figurative moat. So it wasn’t just the companies who had to transform, but the users and customer’s habits also.
Now that the advantages of real estate and in-person experience are locked away, they’ve had to flip the generational switch without a plan and hope for the best (or have a great bench of smart advisors to help.
Conclusion:
M should not exist – it did not have the post modern survival gene to start with.
Adios Amigos!