Retailers, consumers and prices
Which retailer’s ads does Macy’s CEO want to overtake?
Macy’s CEO Terry Lundgren professed his admiration for Target‘s advertising tactics at a consumer conference in New York.
Macy’s ran two back-to-back ad campaigns late last year, which included the “Believe” ads based on the famous New York Sun’s “Yes, Virginia, there is a Santa Claus” editorial.
Those ads were targeted at unseating the discount retailer, which Lundgren called “one great retail advertiser.” He said it would take time for Macy’s to reach its goal.
The department store chain is localizing its stores to cater to consumers’ varying tastes in individual markets. Pittsburgh was one market that Lundgren singled out for learning why it is key to tailor stores to suit local tastes.
Pittsburgh consumers, Lundgren said, surprised Macy’s when they asked for cap sleeve dresses last fall season.
“No one in America was asking for cap sleeve dresses last fall except Pittsburgh,” he said.
Lundgren’s response: Don’t ask, don’t analyze, just give it to them.
That attitude seems to have served Macy’s well, since the department store chain used positive results from its pilot markets for the localization initiative to expand it to more areas.
What is your local Macy’s missing?