Macy’s closes another 68 stores - Over 100 this year, is your brick and mortar store and retail strategy irrelevant?
I talked with an old friend the other day who is a Rep in the furniture business and asked him how his business was. He said it was pretty good, but qualified a lot of the uptick was due to online retailers …. SHOCKER!
His Brick & Mortar Retailer’s Business, not so good. The old tried and true retailers he was so successful with just 5-10 years ago are struggling and many are going out of business. Think about it…10 years ago was 2007 … and now those once successful customers of his are a dying breed. He said they just don’t understand the internet and all that social stuff and when they try to engage with it, they do it half-assed. OMG, that statement is so familiar. Why you ask? The answer is all about the usual suspects;
- No website or bad website
- No content on the website
- No videos showing product information, features and benefits. (On point here, my friend said they were selling motion headrests and he had to create the video to show consumers that feature because his manufacturer brand gave him … Nada….Crickets….Go figure)
- No shopping cart
- No social engagement
Back to Macy’s
Now, their once iconic store, previously part of the Dayton’s Department Store Chain, in Downtown Minneapolis that had 1MM Sq Ft at one time is closed, as is their iconic store in Downtown St. Paul that I grew up with.
Macy’s decided that what is cool in NYC, Chicago or LA, that it would play in Peoria. It doesn’t and it won’t and it never has and it never will.
I wrote about this in my blog, “What the election can teach marketers”.
I BELIEVE THE ELECTION IS CAUSING CHAOS IN THE ADVERTISING AND MARKETING INDUSTRIES, WHY YOU ASK? I’LL WRITE AND YOU DECIDE.
Originally, Macy’s, Target and others had Amazon host their websites. To me, that’s letting the wolves into the hen house. Amazon could see all the analytics and now what are they doing? They’re creating their own private label brands. Lessons learned, I think not.
Sure it’s easy to buy online and yes it will grow. BUT 85% of people still WANT TO BUY LOCAL, and they aren’t coming to your store because your marketing, advertising, merchandising, social engagement, purchase options and your website probably don’t even meet the definition of “Pedestrian”.
What’s PEDESTRIAN you ask? Here are a few words that define Pedestrian;
unimaginative, unexciting, uninteresting, uninvolving ordinary, everyday, run-of-the-mill, mundane, humdrum;
AND I’m not just talking to retailers here, I’m especially speaking to the Manufacturer Brands too.
When I mentioned “The Commoditization of Everything” it is so prevalent in my industry, home furnishings. In my industry when a furniture brand comes out with a winner, everyone knocks it off and the end result…..SAMENESS, commoditization, with all the manufacturers trying to sell the same look for less. I don’t see that in shoes for women, good lord how many shoes can one woman own…get my drift?
They make so many unique styles for women, and what do women want? Uniqueness, a statement accessory that is unique…TO THEM!
So, as we continue to practice the Arrogance of Ignorance, let’s quote Wikipedia that ignorance
If you are a retailer, you must have an awesome website loaded with “EVERYTHING” you have open to buy from your suppliers, even if it means you have 100,000+ items on your platform. Why? Think about how many SKU’s Amazon, Wayfair, Overstock and other purely online retailers have?
MILLIONS and MILLIONS of SKU’s, where consumers can find that Item, or shade of Lipstick that MARKS their style and speaks to them! Don’t do this and you will not only be irrelevant in local search, but in selling those “unique styles” that your consumers wants. Don’t show it and you won’t sell it, it’s that easy and Amazon, Wayfair and others will take your sale.
So whatever you do, don’t listen, don’t read and understand what’s happening and whatever you do don’t change and let the definition of irrelevant prevail...or the definition of insanity.....your choice!
not connected with or relevant to something.
unimportant, inconsequential, insignificant, trivial; off-topic;