A key factor in Macy’s success has been the consistent and disciplined execution of our core strategies of My Macy’s localization, Omnichannel integration and Magic Selling customer engagement, which are known by the acronym of “M.O.M.”
M.O.M. remains the blueprint for the Macy’s brand today – with each element of the strategy coming closer together to work holistically. My Macy’s, Omnichannel and Magic Selling are no longer very separate, distinct subjects. They feed and support each other. We also have become very proficient at applying what we learn to continuously improve our business for our customers. We know we must keep moving forward with fresh thinking.
My Macy’s localization, developed in 2008 and launched nationwide in 2009, remains a differentiator and sustainable competitive advantage for Macy’s. Our intention has always been to deliver a merchandise assortment and shopping experience in each location that meets the needs of the local customer.
Now with six years of My Macy’s experience and a significant amount of progress, we are refining our approach to localization with a renewed emphasis on driving sales growth with a process that is streamlined and leads to quicker decisions.
We are devoting more attention to enhancing our assortment and sales performance by climate zone. We are getting more granular on serving ethnic and multicultural customers. And we are focused on flowing merchandise receipts into each door at exactly the right moment in the shopping cycle.
There is absolutely no doubt that our customers today are omnichannel in how they shop and where and when they buy. So Macy’s has to be with them at every turn.
Research has shown that about two-thirds of all shopping trips today start online with customers researching the options at their desktops or on smartphones or tablets. Then, the customers often come into the store to touch, feel and try-on the merchandise they saw. Maybe they buy in the store. Or maybe they buy the item later while sitting at home in the evening.
We are now operating the company with a single view of our customer, inventory and business – no matter how, when or where the customer is shopping.
In a move to achieve a higher level of shopping convenience, in 2014 we rolled out Buy Online Pickup In Store (BOPS) to all Macy’s and Bloomingdale’s locations nationwide, and successfully piloted same-day delivery to customers in eight markets during the holiday season.
Magic Selling has been closely aligned with My Macy’s as we helped local customers understand that the products at their Macy’s were selected to meet their needs – whether it be by size, color, style, fabric weight or brand.
Moving forward, Magic Selling is also a vital ingredient for tapping the full potential of Omnichannel. We have new tools and technology on the selling floor to engage our store customers. Magic Selling is focusing these new customer touch points to grow sales.
We are encouraging additional “radiated sales” as customers come to a store to pick up BOPS orders or to return or exchange merchandise purchased online. Mobile point-of-sale devices, kiosks and tablets help our associates to better understand customer needs and provide quick and effective service using technology that our customers love.