Macy’s keeps going small and off-mall
Macy’s is not anchoring itself to malls any longer.
The department store retailer said it will open four new small, off-mall stores as part of a multiyear strategy to reinvent its business in suburban “power centers” around the country.
The locations will include the Market by Macy’s smaller store format and a new concept that combines Market by Macy’s with the Macy’s Backstage off-price banner.
Macy’s opened five of its Market stores in Texas and Atlanta in 2020 and 2021. The success of both the new format and Macy’s Backstage has led to further expansion of both concepts. Macy’s plans to have eight Market stores operating by the end of 2022. Backstage, which has been added as a store-within-a-store at 300 Macy’s department stores, currently has nine standalone sites.
The first of the newly announced stores slated to open will be a Market by Macy’s in Suwannee, GA. The location will open on Aug. 20 and be the company’s third Market store in the Atlanta area. The retailer opened its first two stores last year.
Another Market by Macy’s is planned in the St. Louis suburb of Chesterfield. It is the very first Market store in the area and it will replace a nearby mall store that is closing.
“We’re pleased to continue to serve the St. Louis area and look forward to welcoming our customers to Market by Macy’s,” said Marc Mastronardi, Macy’s chief stores officer, in a statement.
The Chicago suburb of Evergreen Park will be the home of a new dual Market by Macy’s and Macy’s Backstage store. Customers will be able to shop Market by Macy’s on the first floor and Backstage on the second.
“We thrive on retail being a dynamic business requiring continuous analysis, reinvention and innovation. As customer preferences and buying behaviors change, we continue to evolve to deliver the experience our customers expect,” said Marc Mastronardi, Macy’s chief stores officer. “As exciting brand extensions, Market by Macy’s and Macy’s Backstage each offer unique shopping experiences — one celebrates discovery and convenience, while the other appeals to the customer who loves the thrill of the hunt for a great value.”
- Macy’s Accelerates the Growth of its Off-Mall, Small-Format Strategy – Macy’s, Inc.
- Macy’s goes small outside the mall – RetailWire
DISCUSSION QUESTIONS: How likely is Macy’s to close more of its mall stores and replace them with Market by Macy’s or dual Market and Backstage locations? What do you see as the right balance of mall-based and off-mall locations for Macy’s?