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12/03/2015

Macy's CFO Talks Testing and Personalizing Service

Macy's CFO Karen Hoguet divulged her thoughts on several of Macy's retail strategies at the company's presentation at the Morgan Stanley Global Consumer and Retail Broker Conference.

For one, Macy's is making moves now to try to personalize service.

"If you go on Macy’s or Bloomingdales.com, how do we make it applicable to you, when you walk in a store, how do we shoot you offerings on to your phone that are personalized to Kimberly or whoever is walking in," said Hoguet.
Another of Macy's strategies to rejuvenate existing stores includes its acquisition of  luxury beauty product retailer Bluemercury.

"Bluemercury, beauty, is a very important business to Macy's and to Bloomingdale's," said Hoguet. "And the Bluemercury concept is different than what we do in our stores. First off, it’s high-end comparable to Bloomingdale's above Macy's, but it’s a very heavy service model, which we don't have to the same degree in our stores.
 
Hoguet expects this will be an important strategy to bring a different beauty experience into the Macy's stores. She also noted she thinks Macy's will help the company in terms of e-commerce growth, which is yet to come. "They do have a website, but we think our capabilities will over time make that significantly better."
 
Hoguet also said that Macy's is in the mode right now of testing things and trying it. "What we have found is when we do sort of traditional research, you really don't know what the customers going to react to, so far better to just test and see. We found, for example, one of the best-selling items at Backstage (Macy's off-price store) is pasta."
 
Who would have ever thought, she asked. "The sell-throughs are off the chart." 
 
For more information on Macy's and how the retailer deploys mobile apps to reduce friction along each shopper touchpoint to build lasting customer connections, check out the "Exhibitor BIG !deas: Macy's Agility Platform: Delivering Personalized Shopper Journeys With Salesforce" session at NRF's Big Show 2016. Yasir Anwar, Head of Digital Technology, Group VP, Macy's and Bloomingdale's will speak at the session.



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