Macy's: The magic of hope
This is the story of a brand that has been at the center of American culture for over 150 years. Even the most storied brands face difficult times.
In 2009, Macy’s was approaching the holiday season under stress. It had been a tough couple of years faced with increasing competition and the effects of an economic crisis that was rattling consumers. Swift action was needed to resuscitate sales for the all-important holiday season and many competitors were relying solely on price slashing to bring customers to their stores. But as the premium brand in our segment, we knew that approach would be dangerous for Macy’s in the long term. Make no mistake — we needed to reverse the declining sales trend and have a good Christmas. But we also needed to set a foundation for a stronger future that was not built solely on price discounts. It would be important to drive traffic to our stores, but it was also going to be important to engage our customers in a relationship that goes beyond the sales transaction and taps into the brand’s unique position and heritage.