In spring 2012, Macy's department stores and online retailer Macys.com announced its mission to restructure internally and market toward the Millennial generation. According to the retailer, its goal is to attract and retain Millennial customers who are "now America's largest and most diverse age demographic with spending estimated at $65 billion each year," on merchandise similar to what Macy's sells.
Who are Millennials? Who are these customers that have strong marketing focus of major retailers? BusinessNewsDaily.com reports that the US Census Bureau describes the 80m to 90m Millennials as Gen Y Americans between the ages of 18 and 29 who are technologically savvy.
A Millennial focus group, sponsored by RedPrairie, and hosted by Fashion Institute of Design in Merchandising, further identified this specific demographic as loyal shoppers. It's no surprise that one of the largest retail brands would strategise on how to consistently appeal to this type of customer. Macy's anticipates that by the end of next year, the newly launched and expanded brands, partnering with the retailer, will have created new shopping environments and experiences that will retain these trendy consumers.
Newness: Fashion and innovation
Macy's Herald Square Flagship New York, NY.
During this season and spring 2013, the newly launched brands will be rolled out to grow alongside Macy's already existing "passion brands" that are geared toward "a cross-section of lifestyles," states Macy's merchandising officer Jeffrey Gennette in a press release. Gennette adds that during the first phase of Macy's new initiative, the focus is on "product investment and repositioning" to "help strengthen Macy's credentials and credibility with this customer by offering them newness, fashion and innovation..."
Macy's Millennial strategy is also based on its research that provides details about preferences of this type of customer. The research analyses how lifestyle influences the self-expression of Millennials through fashion and culture. During the next two seasons, marketing tactics, store space and the visual representations of departments mstylelab and Impulse will also be remodeled based on Macy's extensive research.
New and expanded brand launches
According to Macy's press release, the retailer will be featuring the following brands:
Marilyn Monroe (apparel & shoes)
MADE Fashion Week
Blossom & Clover
Truth or Dare
The newly launched brands include men's and women's fashions for all styles. The Marilyn Monroe collection is designed for trendsetters who embrace "figure-flattering silhouettes that hug women's curves." Blossom & Clover designs range from girly to tomboy for the fashionista who's experimenting with eclectic and creative styles. Designing for the timeless "urban graduate," the Argyleculture line includes sweaters, knits and pants that have urban aesthetics with a classic, Ivy League feel.
RACHEL Rachel Roy
kensie (apparel & shoes)
DV by Dolce Vita
American Rag (accessories)
Steve Madden Handbags
Macy's brand expansion ranges from uptown fashions to delightfully flirty styles to accessories for active adventures and customisable cosmetics. RACHEL Rachel Roy offers the fashionable Millennial "contemporary sportswear, footwear and accessories" that marry "downtown cool with uptown chic." The Else Denim collection features affordable skinny, cropped, bootcut and boyfriend denim in an assortment of trendy colors. Millennials will flock to the new Steve Madden collection that includes funky, studded, embellished and fringed handbags, toes, satchels and cross bodies.
As the holiday season approaches and the new year rolls around, keep an eye out for Macy's fresh trends as new and expanded collections hit stores. The retailer is upholding high expectations for stylish and innovative brands that truly resonate with Millennials and their need for fashionable self-expression.
With international reach, Macys.com now ships to over 100 countries worldwide, including South Africa. Items are displayed in the consumer's currency of choice.
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