Macy's was going to hit the wall because of Amazon, etc. at some point but things could have been much better. Many experienced folks could see both issues and opportunities being ignored for the last 10 years. Many of the basics of running a sound business were not executed and new folks never realized the importance of those issues. Macy's was obsessed with the glam businesses that were working (i.e. Kors, watches, handbags). The peons saw the lack of synergy between store and online; the tsunami of growing on-line competition, the creative emergence of competition from TJ Maxx etc. Macy's should have been strategizing for the future and not basking in the glow. Macy's sneered at customers or businesses that it thought beneath them. Suppliers were treated terribly (I was one of them) so those companies are now happy to leave them. Brilliant, experienced , loyal folks who had nimbly helped the company through years of mergers, crashes, post 9/11 etc. were now seen as traitorous, overpaid, stuck in the past pains and threats and either by firing, pressure or exit packages were shown the door. Also, the job market is good; why would anyone coming out of college look to work there? The folks that are still there are too paranoid, exhausted or apathetic to be bothered to do anything except be paid.
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I work at macys and never buy anything. Our product is tired, redundant and predictable..... The same thing every season. If I see another INC tacky tee with a plastic black stripe on the front or shoulder I'm going to scream.
We carry no premium denim. ..buffalo and Levi does not count.
Why can't I go to our Home department and completely furnish a bathroom ?
Why a customer spends 10,000 on furniture and we charge an obnoxious delivery fee and our competition does not.
We do very few stores offer services I.E. food, salon, optical, tailoring, actual bridal.
Why did we dump legendary names Like Marshal Fields and turn them into giant discounters with last act !
Why do we spend millions to shoot, print and send "look books" in the mail that drives very little traffic and Caterers to very few.
Why do we inconvenience our customers with pre sale under the false assumption that it drives sales when they pick up the item.
Why is my Macy's a joke. You have not and will never get what you know you need in your store. Or you'll get it years too late and the customers goes somewhere that has it.
Why do we alienate most of the population by not carrying big and tall or a fashionable line of women sizes in our stores. Not to mention that we put the women sizes in the most obscure places including home, kids and Jr's
But Amazon accounts for nearly half of all online sales...
To the responder why are stores so empty? You are the bull you know what! That 9% you figure is enough to hurt.
Online sales accounts for a grand total of 9% of retail sales. Amazon is only a portion of that 9%
Tell me again how Amazon is the reason retailers are faltering?
Turn the TV off and do some research, the narrative you've been fed is pure BS