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Mike Osorio's RetailWire Blog
May 14, 2009
Other's Loss is Macy's Gain
FROM RETAILWIRE:
Macy's has developed a strategy to take advantage of the misfortunes of competitors so it can pick up their customers. Has market share become more important for a chain or independent's success in the current market than it has in the past?
MY COMMENTARY:
Macy's is well positioned to grab market share from the demise of Gottschalks and Mervyns and other retailers selling the core product categories like apparel, home furnishings and cosmetics. I do question the idea of going after categories that may not be in their stable of core competencies--like outdoor furniture. This could prove a distraction they don't need. History has shown us that retailers who understand their customer and where they shop can devise effective market share strategies. The key is to understand those customers who are shopping with you and with your competition. Macy's has the best chance of grabbing more of the customer's dollars for categories they already bought at both Macy's and the failed retailers. |
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