Retail Apparel Industry that sells clothing, accessories and footwear is a multibillion dollar industry. The U.S. apparel market is the largest in the world, covering about 30 percent of the global total and has a market value of about 250 billion U.S. dollar. Annual growth of retail apparel industry at the end of 2014 was 5.06%. Though growth rate increased from 2013 but it still remained below industrial average. The women apparel sales in 2013 had reached 116.4 billion. The U.S. apparel market keeps changing, attempting to adapt to customer trends and new technology that will allow the consumers shopping experience to be more enjoyable.
In the retail apparel industry there are so many retail brand stores available to shops. In addition to
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It offers wide variety of products like home goods, clothing, shoes beauty products and jewelries. Macys has large portfolio of private brands created for different demography and it accounts for 20% of company’s total sales. Some of Macy’s private brands are Alfani, Charter Club, First impression, club rooms. Giani Bernini etc. It also offers luxury brands such as Fendi, Emporio Armani Swiss, Versace etc. For 2015 Company reported revenue of 28,105 million and has market capitalization of 12,278 million. Estimated market share for 2015 is 17.3% (Appendix 2). Just like Men’s Warehouse Macys offer wide variety of mens clothing. Mac’s offers merchandize for all demographic. Their luxury brands brings in wealthier customers. They also offer economic pricing due to which lower income group can afford high quality merchandize at reasonable price. To promote sales Macy’s organize seasonal sales and offers huge discount. Such discount sales combined with coupons makes merchandize price attractive to customers. It also offers online purchase with store pickup for few products which saves shipping cost to customers. Macys recently ventured into providing in-home or in-office alteration service on online purchases. To provide this service it partnered with Ztailors, an on-demand tailoring service operated by George zimmer – founder of Men’s Warehouse. To attract online shoppers Macys has kept alteration cost similar to in-store alteration cost and offers free pickup and delivery. Macy’s advertise its sales on newspapers, in media and in online and also through catalogues for customers in mail. Macy’s could be a strong competitor to Men’s warehouse due to loyal customer, attractive sales and reasonable