Macy’s partnering with Facebook to bring e-commerce brands to stores
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US department store retailer Macy’s has teamed up with Facebook to bring 150 e-commerce brands and digital native brands on Facebook and Instagram into its retail stores ahead of the holidays.
Macy’s has launched The Market @ Macy’s, a pop-up marketplace concept that curates more than a hundred brands on a two-week rotation at nine Macy’s stores for the holiday season. The company will add more locations towards the end of the month. The brands range from apparel, accessories and beauty to home decor, technology and more.
The Market @ Macy’s is just one of several experiential concepts the retailer has rolled out to drive in-store traffic. The company recently announced plans to use virtual reality to boost furniture sales. It will pilot the experience in two of its stores by the end of November.
According to GlobalData, the department store chain is showing signs of recovery. Macy’s recently reported good sales numbers in the quarter and a growing number of people say they plan to visit the stores, suggesting the retailer is succeeding in creating stronger appeal.
Macy’s yesterday posted healthy sales growth for the quarter ending November 3 with same-store sales seeing a 3.1 per cent increase. Including licensed departments, the figure increased 3.3 per cent.
Total sales rose 2.3 per cent to US$5.4 billion. Net income more than doubled to US$62 million from US$30 million a year earlier, boosted by asset sales, higher credit income and lower taxes.
Company CEO Jeff Gennette said the recently improved results showed that turnaround plans are working.
The department store chain has been investing in a group of stores it calls ‘magnets’, adding new lighting, fixtures, a better assortment of merchandising and technological innovations to its locations, while experimenting on shrinking other less promising stores.
Questions & Answers
Q.Which specific product categories are included in The Market @ Macy’s pop-up concept?
Which specific product categories are included in The Market @ Macy’s pop-up concept?
The pop-up marketplace includes brands selling apparel, accessories, and beauty products. It also features items for home decor and technology, offering a diverse range of goods for shoppers.
Q.What were the main factors contributing to Macy’s increased net income this quarter?
What were the main factors contributing to Macy’s increased net income this quarter?
Macy's net income more than doubled due to several factors. These included asset sales, an increase in credit income, and lower taxes, all of which boosted their financial performance.
Q.How many Macy’s stores are currently participating in The Market @ Macy’s initiative?
How many Macy’s stores are currently participating in The Market @ Macy’s initiative?
Currently, The Market @ Macy’s pop-up marketplace concept is active in nine Macy's stores. The company plans to introduce this initiative to more locations later in the month.