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Macy Forays into Discount Stores

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Published on : May 06, 2015

Macy’s the leading departmental stores in U.S. are foraying into opening up of pilot stores to boost sales. The day seems to be approaching close as the retailer’s first off-price initiative to open four pilot stores draws close in the fall this year. 

The facility that will be about 30,000 square feet in size will sell women’s, children’s, and men’s apparel along with jewelry and house wares. On top of clearance goods, the store will offer discounts ranging from 20-80% on original prices. Of the four pilot stores, one that will be located in Queens, Long Island, Brooklyn, and New Hyde Park as a group is going to have a café as well.

At the pilot stores, charge cards from Macy’s will be accepted, however coupons will not be accepted and there will not be any promotional events at these stores. In the earnings call of the fourth quarter with analysts, Macy’s announced it has plans to boost spending to as much as US$1.2 billion by 2015. Another idea about opening discount stores is an attempt to sell canceled or returned merchandise at reduced prices.  

As per Macy’s executives, marketing campaigns will be carried across local and traditional channels. Also the executive added, ‘Backstage’ is a totally new concept in retial that has been conceived by team Macy’s in the last six months. 

As per the chief innovation and development officer at Macy’s , the company will give a dry run for the move, to learn what resonates best with customers before opening additional locations.

The pilot stores are also expected to offer benefits to the customers, as per the executive. The idea is to offer a whole new value level to customers who are fashion aficionados and go bargain hunting.

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