admin US department store giant Macy’s is preparing to expand on its small-format store strategy, as it plans to open 30 new locations from the beginning of 2024.
The company said this would triple the current number of small-format stores through to autumn 2025, adding to the nearly 15 Macy’s and Bloomie’s locations it currently operates.
In a release, Adrian Mitchell, chief operating officer and chief financial officer of Macy’s, said: “Our small-format stores are efficient to operate, provide the customer with a shopping alternative within our omnichannel ecosystem and present a unique opportunity to target high-traffic shopping centres.
“Our small-format strategy is one way we intend to harness the full power of the Macy’s brand to deliver sustainable, profitable sales growth for Macy’s, Inc. beginning in 2024.”
The strategy also encompasses the smaller iteration of Bloomingdale’s – Bloomie’s – which is set to open its third location in Seattle, Washington, in November.
The concept contributes to one of five growth vectors for Macy’s, which said that such stores build on its omnichannel strategy to expand in existing markets, enter new markets and maintain its presence in existing ones.
The convenient store size and ability to be placed strategically in shopping centres allows the brand to get closer to existing and desired customers, while further encouraging more frequent visits.
