Macy’s, Inc. (NYSE:M) has renovated its store in Easton, Ohio and the new changes are believed to be what the company’s future stores will look like.
The massive renovation of the company’s department store in the Northeastern part of Columbus are part of the company’ strategy to make a comeback in the retail business which has not been doing well. The company is finalizing the renovation especially in the new areas that are characterized by large spaces to open up space for display. Some of these areas will host shops where customers can purchase wellness products, athlete wear, and other items. The company expects the overhauls to be complete by June 25. The store demonstrates what Macy’s wants its future stores to look like.
Macy’s vice president and store manager Kathi Newton stated that the new look should allow customers to experience the products that the store has to offer in a new way. The changes reflect a strategy to try and revive the company’s department stores. They also aim to help the firm adapt to changes in consumer shopping behavior. Shoppers prefer to purchase from online stores offered by companies such as Amazon.com, Inc. (NASDAQ:AMZN) and other online retailers that offer discounted prices on their products.
The changes also highlight Macy’s efforts in real estate as a deviation from its core business. The firm has been under a lot of pressure from investors due to lower profits this year. There has been a call for the firm to make changes to its business strategy to revive sales. The company’s shares have also been registering unimpressive performance.
Macy’s executives believe that stores should change their appearance so that they can be more exciting and welcoming to customers. In short they believe that stores should be arranged well enough to convince shoppers to visit the physical stores rather than buying online. Macy’s plans to make similar changes across 150 of its best stores.