Some of the tweaks will make the department store more like discount chains such as Nordstrom Rack, T.J. Maxx, Marshalls and DSW.
Macy’s also recently launched “Backstage,” a brand that sells Macy’s products at up to 80 percent off. The department store also added a clearance department called “Last Act” that gathers all Macy’s discounted items in one section of the store.
While it might be tempting to blame Amazon and other online retailers for declining sales at Macy’s and other brick-and-mortar department stores, Hoguet says that’s not the case here. In fact, Macy’s is seeing more competition from discount chain such as Ross, T.J. Maxx, Burlington Coat Factory and others.
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In an effort to keep up with those stores, Macy’s is trying to mimic them.
“I think you’re going to see more of that enter into the Macy’s logic,” Hoguet said.
Sarah Kuta is an award-winning writer and editor based in Colorado. She writes regularly about how to find deals, save money and find side gigs. Reach her at sarah@dontwasteyourmoney.com. More.
