Who Is Macy's Competitors

Macy’s is a well-known brand that has maintained an upscale market appeal for many years. Macy’s is considered to be a high-end retailer which has been operating since 1858. Macy’s quickly grew from the one manned dry goods store that started out bringing less than $15 of revenue in each day to mega retail store with more than 800 locations in 45 differents states. Macy’s has connections with many well-known brands, Michael Khors, Coach, Burberry, Clinique, Tommy Hilfiger, Ralph Lauren and countless more that all contributes to the success of this retailer. However, in recent years, Macy’s has been struggling to keep above the competition. Macy’s has recently seen a downturn in sales which can be reflected upon their competition rising. However,

Since Macy’s offers established, high quality brands, the biggest spenders include Baby Boomers and Generation X consumers. Although millennials offer long-term opportunities for retailers, according to Forbes Magazine, they aren’t the ones solely shopping at Macy’s. We also found that Generation Z consumers, the people who are currently in high school, only purpose shop at Macy’s. For example Generation Z consumers go to Macy’s looking for prom and homecoming dresses, but nothing else. The company operates around 800 stores in 45 states (Macy Inc). In addition to the United States, Macy’s has locations in Guam and Puerto Rico under the names Macy’s and Bloomingdale's. The demographic segment affects Macy’s because since the company has such a great, high quality brand image, we think their current demographic is fitting but it doesn’t offer room for growth. Since Macy’s is starting to struggle due to new competition, they should start focusing on younger generations for their new market demographic but that would cause a lot of business changes in order to be

Since Macy’s is a United States based company, the current economic conditions are stable. Although, in recent years Macy’s sales have been slowly declining. One of the reasons for a sales decline is due to increasing competition. Macy’s competition is increasing due to websites like Amazon and stores like T.J. Maxx. Both of those companies offer similar brands and products like Macy’s does but at a lower prices. Also, since the economy had been slow in recent years, that is the reason for offering lower prices for items on websites like Amazon and stores like T.J. Maxx. Macy’s didn’t keep up with the recent economic trends because their prices are higher than what people currently want to