Macy’s Inc. is slowly losing traction. In 2017, the company struggled to keep its market value while continuing to develop concrete Macy’s e-commerce plans. Observers believe that the firm should do more to turn things around.
In 2017, then chief executive officer Jeff Gennette assured that the firm was locked for a double digit growth in its online business. Still, the firm has put up vague Macy’s e-commerce plans particularly for the holiday season which has traditionally been the busiest for retailers.
Macy’s e-commerce plans revealed
In 2017, the retailer announced that it will be offering its Black Friday deals on the Internet all day long on Thanksgiving. This sounds exciting but the truth is that the plan isn’t a breakthrough. After all, almost all retailers do so during Thanksgiving.
Macy’s e-commerce plans also include the launch of a new subscription service, Maçy’s Wine Cellar. But many observers note that Macy’s is not an authority on consumable goods. It is more known for its house ware, clothes, and accessories.
Sure, Macy’s has expanded its same-day delivery service to 15 new U.S. markets. But the criticism has been on its inability to lay out and execute Macy’s e-commerce plans to put its online business into a higher gear.
Macy’s e-commerce plans take a backseat
The lack of concrete e-commerce plans is further highlighted by the retailer’s announcement that it will focus on its brick-and-mortar stores. Macy’s has said it will remove duplicate goods and limit its sale events to stop confusing customers.
But these efforts can’t hide the fact that Macy’s is also closing a hundred of its stores as more and more people realize how convenient it is to shop online.
Macy’s e-commerce plans must be taken seriously
Macy’s should start taking its e-commerce business more seriously or continue to lose money, say market observers. New president Hal Lawton, who was named to the top post late in 2017, has experience in the e-commerce business being part of eBay before. All eyes will be on him as he tries to put more into the firm’s e-commerce efforts.