The company was registered in Delaware in the year 1985. The company had in operation since the year 1830, operating various departmental stores. As of January 30, 2016, the company operated 870 outlets spanning across 45 states in the United States, Columbia District and Puerto Rico. The company operates as well as various online stores, including Macy's.com, bluemercury.com and bloomingdales.com. In addition to that, the company has operations in the United Arab Emirates operating under the license of Al Tayer Insignia. The company's vision and mission strategy are customer satisfaction. Macy's understood the importance of keeping the customers satisfied and aggressively employs best talents in addressing the customer needs. Thus, Macy’s retains the best talents who facilitate the execution of its strategy (Macy's Corporation, n.d.).
Macy’s promotional strategies include a brand strategy known as M.O.M., which is an acronym for the Macy's Omni Channel and Magic Selling strategy that was designed in the year 2008. The sales strategy has been in operation for the past six years. The company has continued to improve the service delivery through the inclusion of multi-channels where the buyers can access the products from. They include countrywide retail networks and the several online platforms. The company has automated its data collection platforms for ease of customer recognition and precise understanding of the client needs. The data was integrated and synchronized across branches for ease of the analysis (Business Wire, 2015). In responding to the growing increase in the use of technology, the company has invested heavily in the technology platform, including online platforms, mobile applications, and as well floor spaces. This is in line with its strategy of enhancing the customer experiences.
The company's sales were relatively constant over the last five years by the year 2008 having the largest sales in the year 2014, at $27 billion. The company has managed to maintain a constant cost of sales over the past five years at $16 billion. The total business assets stood at around 20 billion. This is in line with the company’s strategy of enhancing the revenue figures, earnings and as well the cash flow.
Macy has employed both the conventional marketing strategies and as well the modern digital marketing strategy. The marketing strategies include a parade, tourism marketing, cause marketing and development. One of the notable annual events that bring the store to the public attention is the event known as Macy’s Thanksgiving Day. The event attracts 35,000-100,000 visitations on a daily basis alongside the 4.5 million participants lining on the New York Street. The cause marketing team works with various charitable organizations whereby a portion of the sales is donated. The company strategy of allowing a 10% to any customer who does not live in the New York City attracts visitors to the store. Other strategies include the invitation of celebrities such as celebrity fashion stylist and image consultant Carlton Spence and customers get’s an opportunity to interact with him (Deca Direct, 2015).
Macy's corporation has been on a growth trajectory since its incorporation. The company has managed to expand its operations across the United States and abroad. The company sales have also grown in line with the management strategies. This has been facilitated by the firm's marketing strategy, tactics and strong team that strives to meet's the management strategies.
References
Business Wire. (2015, January 8). Macy’s, Inc. Evolves with Changing Customer Landscape, Invests for Continued Sales Growth | Business Wire. Retrieved from http://www.businesswire.com/news/home/20150108006314/en/Macy%E2%80%99s- Evolves-Changing-Customer-Landscape-Invests-Continued
Deca Direct. (2015, November). Discovering the Magic of Macy’s Marketing Strategies - DECA Direct - November 2015. Retrieved from http://www.decadirect.org/November-2015/Discovering-the-Magic-of-Macys-Marketing-Strategies/
Macy's Corporation. (n.d.). Corporate Vision, Philosophy, and Financial Objectives - Macy's, Inc. Retrieved from https://www.macysinc.com/about-us/corporate-vision-philosophy-financial-objectives/default.aspx
