Identify a company
maqi0912
MACYS.pptxHistory
Macy’s founded (1858)
Founded by Rowland Hussey Macy
Gross sales in 1st year $85000 (Swenson, 2019)
Revenue for 2020 $25.331 billion
The company in question has been identified as Macy's, which was founded in 1858 by Rowland Hussey Macy. Throughout the years, the company has grown to include 725 stores and more than 90000 employees, with its main headquarters in New York City. After being established, the company's first day sales totaled $11.06, with gross sales for the first year totaling approximately $85000. (Swenson, 2019). Since then, the company has made tremendous strides in order to establish itself as one of the best fashion retail brands in the industry. The company's annual revenue has fluctuated between decreases and increases over the years. The company's annual revenue for the year 2020 was $ 25.331 billion, with projections for 2021 indicating a further decline in revenues as a result of the global pandemic's consequences.
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Macy’s
Target market- men/women
Critical areas for growth is modernizing its physical stores
Market entry strategies used include;
Franchising
Exporting
The company's primary market consists primarily of men and women of different ages. The company's goal is to sell its fashion products, such as accessories, clothes, apparel, and even cosmetics, to the above-mentioned demographic. Providing its stores with a more contemporary appearance is a critical area of growth for the company. The majority of the company's stores have been subjected to underinvestment in a manner reminiscent of 1980s throwbacks, making it difficult to portray the company as one that is embracing innovation. Franchising and exporting are two of the most important market entry strategies employed by the company. A Macy's franchise is currently estimated to cost between $350000 and $685000, depending on the location.
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Macy’s cont…
Visual Spectrum
In the company's segmentation analysis, it was discovered that the company's target market is segmented based on demographics such as age, gender, and income (Pai, 2018). However, as more consumers become aware of the importance of sustainability, a new market segment for them to target emerges. This segment can concentrate on the production of fashion products that are completely environmentally friendly. It is possible to concentrate on the luxury segment of the company's value spectrum analysis, which assures users of the high quality, good shopping experience and exclusivity associated with the brand items they purchase. Sales, inventory turnover, and profit margin are examples of key performance indicators that a company may use.
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Market
Market segment based on age gender and income
Segment
New segment concentrate on the production of fashion products that are completely environmentally friendly.
Value
Value spectrum analysis is about the shopping experience and exclusivity of it products
Macy’s Ad
Headline:
Macy’s- Shop fashion clothing&Accessories
Description:
Macy's - Macy's has the latest fashion brands on Women's and Men's Clothing, Accessories, Jewelry, Beauty, Shoes and Home. Shop at Macy's. Buy Online & Get Free, Fast, & Easy Pickup In Store.
Keywords:
Shopping, Macy’s, fashion, high fashion, offers, discount code, customer experience, online shopping, nostalgia, high quality, inexpensive, technology, AR, clothing, buy, trends, holiday, seasonal product, exclusive, gift, high tech，Christmas, Thanksgiving, Labor Day, Easter，trendy，parade, tradition，event，fantasy，life，day，cheap，expensive, mall, fitting room.
URL： https://www.macys.com/
KPI:
KPIs include sale, inventory turnover and profit margin, Total sales revenue For physical store.
Website: Search Traffic/Bounce Rate/Conversion Rate
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Thank You !
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