Macy's boldly plans to open up to 30 new small-format stores across the United States in 2024. This strategic decision marks a significant shift in the company's approach to retail, embracing the power of small to deliver a more personalized and convenient shopping experience.
Macy's Inc., known for its department stores, websites, and mobile applications, offers a wide range of products from apparel for men, women, and kids to home furnishings, cosmetics, fragrances, shoes, and other accessories. The company also owns the department store chains Bloomingdale's and Macy's, and beauty store chain Bluemercury, all of which operate flagship stores in Manhattan. As of October 2022, it operates 722 locations in the United States, Guam, and Puerto Rico.
The decision to open small-format stores is a strategic one. These stores are designed to bring the brand closer to existing and potential customers while encouraging more frequent visits. They will be located in off-mall shopping centers, providing a seamless shopping experience that combines the best of on- and off-mall locations.
This expansion plan is not the company's first foray into small-format stores. In fact, by the end of 2023, there will be 12 Macy's small-format stores and three Bloomie's locations. The upcoming expansion in 2024 is an addition to these existing locations, demonstrating the company's commitment to this new retail format.
The small-format stores will offer a curated assortment of Macy's distinctive fashion, on-trend beauty, luxury fragrances, and more. They will also collaborate with local businesses to create pop-up shops and events that cater to customer preferences. The stores will feature elevated fitting rooms with larger spaces, lounge areas, full-length mirrors, and selfie moments, creating an inviting atmosphere.
Macy's Inc. is not just expanding its physical footprint; it's also committed to creating a brighter future with bold representation for all. The company's mission, dubbed "Mission Every One," aims to use its business and brands to tackle the barriers to representation, realizing the potential of every one of us. This strategic move is set to position the company for long-term growth, reinforcing its status as a trusted source for quality brands at great values from off-price to luxury.
