(Photo Credit: Fox Business)
http://adage.com/article/cmo-strategy/macy-s-unveils-marketing-strategy-cmo/309290/
Macy’s has unveiled that they will begin a new marketing strategy under their new CMO. It is not surprising that many brick and mortar stores are struggling–especially department stores. But none have fallen farther from grace than Macy’s.
They have decided that they will be putting out fewer sales in your face and focus more on improving their marketing mix. They will still do ads on TV but they will be making it shorter and local. A new loyalty program will be rolled out as well to include all their customers rather than just those who have their credit card.
I think while it is great they are trying to do new things–TV still isn’t the best medium to do so. Social media is here and it is what people are on every waking moment, especially the younger generation that they are trying to desperately reach. That generation won’t be watching television, they will be on their phone or watching Netflix or Hulu rather than live.
I feel like while Macy’s is on social media, it still will be a bit hard for them to reach out to the younger demographic. Department stores feel tired and something our mothers’ shop in. The good thing is that they are trying to up their buy online and pick up in-store option to be more convenient and bring them into the store.
Macy’s will need much more than TV ads and a rebooted loyalty program to help push it back up to its former glory. If it is even possible. It may help it a little but I wonder if this truly is the end for department stores.
New MeDylan 