February 10, 2016
Macy’s is relearning a lesson common to retailers 100 years ago: customers need a compelling reason to visit a store. Therefore, the retailer says it is adjusting its strategy to include restaurants.
The hope is that Macy’s can create gathering places, not just stores to buy products. In days gone by, restaurants attracted and held shoppers’ attention longer, thus encouraging additional spending.
Macy’s, which announced last month it was closing dozens of stores, is seeking ways to fight disappointing 2015 sales, which were generally blamed on online shopping. The retailer is also “test” placing more “Backstage” discount outlets within stores.