Macy is one of the largest and most popular retailers in the world. Now they have set a new objective for themselves, which is to create the largest shoe department in the world. This plan is set to cost the retailer $400 million, which will cover redesigning the department, updating other departments, and adding new, luxury brands to their collections. Also, Macy will have a coffee, wine, and chocolate bar restaurant on the 6th floor, as well as dining eateries on the lower levels. The store also plans to take advantage of advancing technology by incorporating a shoe locater into their systems so people can find what their looking for quickly and efficiently. Sidewalks near the entrances will also have welcome mats paved into the ground. The plan also includes 300 new fitting rooms and restrooms and expansion of men's merchandise.
My View:
Macy's motive for creating and carrying out this plan it to attract more customers into its store. Perhaps there is another popular retailers it needs to compete with and by taking advantage of technological advances, Macys can differentiate itself amongst it rivals. Macys is adding new products to an already existing product line in order to create more interest in potential consumers. Also, all these production costs will definitely cause an increase in prices in order to cover costs and make profit. For a while, Macys will probably try to cover its costs and then make revenue but its main concern is spurring more interest in people to shop at its store.
http://news.yahoo.com/blogs/dnainfo/macy-plans-world-largest-shoe-store-145817438.html?bouchon=501,ny
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