Macy’s New Story

Posted on May 22, 2018 by bermanevansretail

After a long period of weak results, Macy’s may finally be turning things around. And there is also Macy’s new Story.

 

Recent Results Are Positive

According to Paul LaMonica, writing for CNN Money:

“Don’t count out Macy’s yet. Digital sales are up. People are going to actual, physical Macy’s stores to shop. And tourists are flocking to Macy’s flagship store in New York. Macy’s is so confident in its business that it boosted its outlook for the year.”

“The retailer once again posted double-digit sales growth from digital sales, thanks in part to improvements the company has made to its Web site and app. Macy’s said that sales were healthy at physical stores for all its main brands as well, which include Bloomingdale’s and makeup and beauty chain Bluemercury — in addition to Macy’s. Overall sales rose 3.6% from last year, better than expected.”

“CEO Jeff Gennette said in the company’s earnings release that the solid results were proof that ‘the winning formula’ for Macy’s is ‘a healthy brick & mortar business, robust E-commerce, and a great mobile experience.'”

 

Macy’s New Story

To keep the momentum going, Macy will purchase Story. As the latter reports at its Web site:

“Set in a 2,000-square-foot store located in Manhattan’s 10th Ave. retail corridor, Story is a retail concept that takes the point of view of a magazine, changes like a gallery, and sells things like a store. That means every four to eight weeks, Story completely reinvents itself -from the design to the merchandise – with the goal of bringing to light a new theme, trend or issue.”

 Click the image to read a recent “story.”

Macy's New Story

Click here to read about the benefits to Macy’s of the Story acquisition.
 

Posted in Online Retailing, Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer, Part 8: Putting It All Together | Tagged , , , , , | Leave a comment

Tips for New Entrepreneurs

Posted on May 21, 2018 by bermanevansretail

Interested in becoming an entrepreneur? If yes, then today’s post is for you. It includes tips for new entrepreneurs.

For more information, look at these prior posts: Observations from 234 Entrepreneurs! and Do You Have What It Takes to Be an Entrepreneur?

 

Infographic Tips for New Entrepreneurs

As Meredith Wood writes for Fundera:

“Being an entrepreneur is always challenging. But it can be especially difficult if you start building your business at a young age. Young entrepreneurs face unique hurdles. And these include creating a company with less work and life experience under their belt. If you’re a young entrepreneur, you may also struggle with being taken less seriously by older peers.”

“In addition, if you start creating a business at a younger age you’ve also likely had less time to build a robust financial life. One of the best ways to position yourself for success despite these challenges is to be proactive about developing and maintaining a strong financial strategy. To take control of your financial life as a young entrepreneur, get smart about implementing money tips into your life and your business strategy. Simple steps like finding a business credit card that works for you and tracking your purchasing will help you create the foundation you need to build a strong financial life. These simple but crucial financial tips will also give you the confidence you need to focus on building a successful business.”

Here is an infographic from Fundera.

Tips for New Entrepreneurs -- An Infographic

 

Posted in Career Useful Information, Careers in Retailing, Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 5: Managing a Retail Business, Part 8: Putting It All Together | Tagged , , , | Leave a comment

Bonobos Showcases Diversity

Posted on May 16, 2018 by bermanevansretail

At Bonobos, an online men’s clothier, the focus is on the following:

“Shopping for clothes is a pain. We’re here to make it painless, and maybe even fun. A Better Experience. Like most guys, we’re not big fans of shopping. That’s why we set out to build the best online shopping experience in the world, and we made it the core of what we do. We’re now the largest clothing brand ever built on the Web in the U.S.”

Bonobos Showcases Diversity

 

Bonobos Showcases Diversity

As part of its overall strategy, Bonobos is a big believer in diversity.

Consider this recent report by Adrianne Pasquarelli for Advertising Age. And then look at the ad below: 

“Bonobos has a few good men in its new campaign — actually, a lot of them. To show off that its pants cover 172 sizes and fits, the 11-year-old menswear brand is debuting a campaign featuring 172 men of varying shapes, sizes, ages and ethnicity in a 30-second TV spot. ‘However you fit, Bonobos fits you,’ reads text in the commercial, which will run in Austin and Chicago markets.”

“‘There’s a really interesting conversation to be had around the evolution of masculinity, and the power of diversity and inclusivity,’ says Micky Onvural, co-president of the brand, which was bought by Walmart last year for $310 million. The company has been exploring ‘how Bonobos as a brand could not just have an impact on the men that [it sells to] and how they see themselves, but have an impact on the conversation,’ she adds.”

“Onvural was Bonobos’ chief marketing officer before the Walmart purchase and is still handling the role’s responsibilities while the company searches for a new CMO. The campaign, which begins airing on Monday, is the brand’s second push from Observatory Marketing, formerly known as CAA, following ‘Role Models,’ which aired last fall.”

“Along with the TV spot, Bonobos will run radio, digital and social marketing as well as project video on buildings in both cities. The brand will also cull a 90-second digital video and a seven-minute mini-documentary out of interviews with its models.”

 

Posted in Online Retailing, Part 3: Targeting Customers and Gathering Information, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer, Social Media and Retailing | Tagged , , , , | Leave a comment