Macy's holiday earnings down
Jan 16, 2019 10:17:49 #
Why does it not surprise me that Macy's holiday earnings are down while overall holiday earnings were up this year? My wife does some shopping at Macy's and in the past put the charges on a regular Visa card. However, she was offered 15% off on a purchase if she'd sign up for a Macy's card, so she did. The problem turned out to be that it was impossible to make online payments. We were supposed to be able to, but it didn't work. My wife had to go into the store to make the monthly payments. So....why shop there with the added inconvenience? Bad management I'd say.
Jan 16, 2019 10:40:19 #
The Internet has opened a global market for the consumer. We can order nearly anything from anywhere in the world offered with a click of a button now. In addition to that, PayPal has made it safe for us to do so.
Some include shipping (nothing is free of course) and some do not but still we have the convenience of comparing prices and features from the comfort of wherever we may be.
The brick and mortar stores have a difficult time competing for business so they come up with strategies to help attract customers to their door. Some of these seem like a great idea at the time but flop in execution. I doubt that it will ever be as it once was and it would not surprise me that someday there will be no more stores to shop at, just distribution centers warehouse and to ship your order.
Some include shipping (nothing is free of course) and some do not but still we have the convenience of comparing prices and features from the comfort of wherever we may be.
The brick and mortar stores have a difficult time competing for business so they come up with strategies to help attract customers to their door. Some of these seem like a great idea at the time but flop in execution. I doubt that it will ever be as it once was and it would not surprise me that someday there will be no more stores to shop at, just distribution centers warehouse and to ship your order.
Jan 16, 2019 10:43:14 #
Bob Locher
Loc: Southwest Oregon
Right. It got your wife into the store every month. Macy's would consider that a win. Same reason Walmart has a pharmacy with aggressive prices - they don't make money on the drugs, but it keeps people coming into the store - and they almost always buy something else that Walmart can make a profit on.
Jan 16, 2019 10:46:06 #
Macy's, like Sears and Penney's, e.g., are still trying to compete with the web by using a hybrid retail model; a combination of walk-in and web sales. Sears has completely failed, Penney's is right behind them, and Macy's won't be too far behind Penney's.
They concentrate on customer service in the stores, but companies like Kohl's and Target, even Walmart are functioning as hybrids.
Macy's is also caught in the bind of having to discount their merchandise via "sales", just to comply with their more upscale suppliers. Marks like Polo, Calvin Kline, Michael Kors, all have MSRP's that retailers have to comply to. When you can go to eBay, for instance, you can get a discount on some labels, and that eats into Macy's operations.
And don't forget the 800 pound gorilla in the mix - Amazon.
They concentrate on customer service in the stores, but companies like Kohl's and Target, even Walmart are functioning as hybrids.
Macy's is also caught in the bind of having to discount their merchandise via "sales", just to comply with their more upscale suppliers. Marks like Polo, Calvin Kline, Michael Kors, all have MSRP's that retailers have to comply to. When you can go to eBay, for instance, you can get a discount on some labels, and that eats into Macy's operations.
And don't forget the 800 pound gorilla in the mix - Amazon.
Jan 16, 2019 10:53:35 #
If I'm not mistaken, the big retail stores also have an online presence and will provide the same kind of shipping that Amazon does. I bought a winter coat for my son this way a couple of years ago.
Jan 16, 2019 11:52:04 #
In the UK pre xmas sales were down also - According to the UN we have doubled the amount of poor people in the last decade. Now over 40% of our population is considered to be living in poverty. Add to that the concerns about Brexit - which was on the news throughout Xmas and the uncertainty of the future and probably only alcohol sales stood a chance of meeting last years margins.
Jan 16, 2019 12:40:36 #
alby
Loc: very eastern pa.
Our Macy's store stinks, literally, use to go nearly every week. haven't been back in years.
Jan 16, 2019 14:36:15 #
SteveR wrote:
If I'm not mistaken, the big retail stores also have an online presence and will provide the same kind of shipping that Amazon does. I bought a winter coat for my son this way a couple of years ago.
I've nearly stopped in-store shopping with the availability of web-based retail.
I've given up trying to find goods by going store-to-store. Too many times they don't have the size, color, or any number of requirements I have. It's just easier to go to an etail site, and shop until I find what I want.
There's another benefit. I've found a large number of retailer's that I didn't know existed. By searching, these "new" retailers have emerged, and they've become my "go to" sources for brands, styles, etc., that weren't available locally. For instance, there's a company which carries Viyella shirts. They're a very comfortable blend of wool and cotton, perfect for the winter. Only one store in the Detroit area carries them, and the in-store selection does have some limits. However, I found Dann Clothing, and they have boatloads of styles, colors, etc., and less expensive that other sources.
Jan 17, 2019 06:17:07 #
SteveR wrote:
Why does it not surprise me that Macy's holiday ea... (show quote)
A friend worked for Macy's a couple of years ago, and he always made payments online. Maybe things have changed.
Jan 17, 2019 06:36:44 #
jerryc41 wrote:
A friend worked for Macy's a couple of years ago, and he always made payments online. Maybe things have changed.
I can't tell you, Jerry. We pay everything else online with no problem. When logging in to Macy's it would never connect to their server. I just kept getting the spinning thing on multiple occasions. More months than one.
Jan 17, 2019 06:39:25 #
alby wrote:
Our Macy's store stinks, literally, use to go nearly every week. haven't been back in years.
We lived about 10 miles , maybe 15, an hour and a half on public transportation from Herald Square when Macy's opened a store near us, people that shopped Macy's were very unhappy, wasn't 'Macy's' they actually lost customers that time by suburbanizing the store.
Jan 17, 2019 09:10:35 #
I would have made one visit to the store and paid it off with a Visa card!
Jan 17, 2019 09:54:31 #
SteveR wrote:
Why does it not surprise me that Macy's holiday ea... (show quote)
That’s precisely why my wife got rid of her Macy’s card, but I doubt that card is the reason their sales were down.
Jan 17, 2019 12:06:58 #
wrangler5
Loc: Missouri
I never pay bills through a vendor's web site, I just use the Bank At Home function of my bank's software. The bank pays the bill, on the date I specify, either electronically or by writing and mailing a check - I don't know and don't care how they do it, and it's free to me either way.
Macy's is just another Payee on my list of payees. Some payees are paid automatically every month (mortgage, utilities on budget billing plans, etc.) while others get whatever they billed. But in any event it's done on a single page and with a connection to a single server - the bank's. And no other party gets direct access to my bank accounts.
Macy's is just another Payee on my list of payees. Some payees are paid automatically every month (mortgage, utilities on budget billing plans, etc.) while others get whatever they billed. But in any event it's done on a single page and with a connection to a single server - the bank's. And no other party gets direct access to my bank accounts.
Jan 17, 2019 12:17:22 #
I make payment to Macy's online through my bank. The bank notifies me when the bill arrives and I go online and pay it - simple...
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