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Macy's notes

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MKTG 2030
Linda Reeser

Macy’s Case Notes Week 3 Jessica Gahtan Summary -­‐ Develop Macy’s as national brand -­‐ Capitalized on pre-existing recognition -­‐ Consolidated other stores - allowed for maintaining business rather than starting from scratch -­‐ Prime locations -­‐ Strong Management -­‐ Department stores created for ‘one-stop shopping’ -­‐ Market share of traditional department store: 30% in 1950s and 7% in 2010 -­‐ 2010- ROE = 9% (desirable @15%) -­‐ Women primary customer base, aged 25 -55 -­‐ Focused on conservative, traditional fashion -­‐ National brands Repositioning -­‐ Federated Department Stores looking to develop Macy’s as national brand -­‐ Consolidated 810 department stores from 15 different chains across US -­‐ Allowed for national advertising and national brand -­‐ Lowered cost structure Strategy -­‐ Consolidated = Lower cost -­‐ “America’s Department Store” -­‐ Affordable – above mid-level department store, below higher end -­‐ Fashion v demographic -­‐ Remodeling -­‐ “Everyday value” Suppliers -­‐ After consolidation, bought mass amounts from same suppliers -> buyers- higher power -­‐ Created own brands; became their own suppliers Customers -­‐ Little bargaining power of cu stomer -­‐ Broad customer base; no single buyer influential enough -­‐ Already had everyday value Threat of new entrants -­‐ Self-made fashion lines -­‐ Developed national brand -­‐ Already had lower production costs Rivalry -­‐ Positioned in upper middle level segment -­‐ Fashion at lower price -­‐ Targeted interest group rather than demographic 1 Macy’s Case Notes Week 3
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