Macy’s SWOT & PESTLE Analysis
COMPANY PROFILE -Macy's
Business Sector :Retail, Fashion and Lifestyle
Operating Geography :United States, Global
About Macy's :
Macy’s is a USA based company with headquarters located in Cincinnati, Ohio. The company was founded in 1929 in Columbus, Ohio by Xavier Warren under the name of Federated Department Stores. Federated acquired Macy’s in 1994, two years after it filed for bankruptcy. In 2004, through a process that lasted many years, Federated finally re-branded all its stores to include the Macy name, with the exception of Bloomingdales. The company’s name and logo were officially changed to Macy’s only on June1, 2007.Today the company is a departmental stores chain that deals primarily in apparel and fashion accessories. It also sells furnishings, cosmetics and a large number of other consumer goods. The popular brands of the company are Macy’s, Bloomingdale’s and Bluemercury. It has over 680 stores located across 43 states as well a significant online presence through the websites macys.com, Bloomingdales.com and bluemercury.com.
Macy’s mission statement is “to be a retailer with the ability to see opportunity on the horizon and have a clear path for capitalizing on it. To do so, we are moving faster that ever before, employing more technology and concentrating our resources on those elements more important to our core customers.” Macy’s USP lies in the fact that it offers its customers easy access to a wide range of products at affordable pricing through it many stores located all over the USA. The company’s tagline reads, “The magic of Macy’s”. The company has over 130,000 employees as per early 2019 records.
Macy's Revenue :
US $27.08 billion – FY ending Jan 2016Competitive Analysis of Macy's
| 1. Strong Omni-channel existence 2. High Business credibility and worthiness 3. Comprehensive value-for-money and luxury products portfolio 4. Personalized merchandise offering | 1. Low inventory turnover 2. High rates of employee turnover 3. Decreasing return on invested capital 4. Seasonality of business |
| 1. Expansion in overseas market 2. Progress through e-commerce 3. Growth in luxury beauty products and spa services | 1. Labor slowdown 2. Decrease in tourist footfall 3. Intense competition from Walmart, Dillard, JCPenny, etc. |
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Detailed SWOT Analysis of Macy's
Strength
1. Strong Omni channel existence: Macy’s follow an Omni channel strategy to serve customer. Apart from operating retail stores under the name Macy’s, Macy’s Backstage, Bloomingdale’s Outlet and Bluemercury it also maintains online touch points. Customers can place order on macys.com, bloomingdales.com and bluemercury.com using their mobiles also.
2. High Business credibility and worthiness: Macy’s has the BBB accreditation since August, 1965. The BBB has given the company an extraordinary rating of A+ on a scale from A+ to F. This accreditation is based on sufficient background information along with Macy’s commitment to make efforts in good faith to resolve customer issues.
3. Comprehensive value-for-money and luxury products portfolio: The Macy’s has a collection of apparels from star brands such as Ralph Lauren, Calvin Klein, and Michael Kors among others. All the gaps in the portfolio has been filled by the private brands such as Alfani, Bar III, Charter Club etc. and private labels such as Holiday Thread, Karen Scott etc.
4. Personalized merchandise offering: Macy’s utilizes shop beacons which is an enhanced mobile location-based technology to provide more personalized department level recommendation, discounts and rewards. This will help in improving customer engagement and increase relevance of promotional and marketing activities.
Weakness
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Opportunity
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Threat
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TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
References used in Macy's Analysis Report
1. Macy’s Annual report 2018 - http://www.annualreports.com/Click/9149
2. Macy’s Annual report 2017 - http://www.annualreports.com/HostedData/AnnualReportArchive/m/NYSE_M_2017.pdf
3. Macy’s Company profile - https://in.reuters.com/finance/stocks/company-profile/M.N
4. Macy’s company website - https://www.macys.com/
The detailed complete set of references are available on request in the 'Complete report' on purchase.
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Macy’s SWOT & PESTLE Analysis - SWOT & PESTLE.COM
SWOT & PESTLE.com (2020). Macy’s SWOT & PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/macys/ [Accessed 26 Nov, 2020].
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Macy’s SWOT and PESTLE analysis has been conducted by Devesh Varshney and reviewed by senior analysts from Barakaat Consulting.
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