Over the years, especially since the internet is playing such a large role in retail sales, the landscape of brick ‘n mortar stores is changing — drastically in some cases.
I first noticed it in 2008-09 when many of my retail store customers began closing their doors. I catered to the smaller chains and independent gift stores that were closing faster than I could track. Compounded by the economic crash, I lost 9 of my top 10 biggest accounts (along with numerous smaller accounts) within a year or so.
Fast forward ten years, and the impact of the internet on commerce continues to march on. Many of the bigger chain stores are disappearing! I was crushed to see many of the larger discount stores, department stores, shoe stores, book stores (even the chain I used to work for), and many specialty chain stores closing. Although I see the advantages of buying via the internet, I am also saddened by the changes in the retail landscape!
Surviving the Change
In order to survive the wave of change, chain stores need to be progressive and innovative. One chain in particular stands out as a leader for change: Macy’s!
Rowland Hussey Macy, who between 1843 and 1855, opened four retail dry goods stores, including the original Macy’s store in downtown Haverhill, Massachusetts, established in 1851. They all failed, but he learned from his mistakes and re-opened a new store in New York in 1958 and was successful!
Although, the chain is still struggling today, maybe their new program, The Market @ Macy’s will be a game changer for them!
According to their website, The Market @ Macy’s, has created a “fresh new approach to pop-up retail, where new and existing brands can:
- Show off their innovative products
- Demo new services
- Deliver a unique experience”
Macy’s is sharing some of their prime retail real estate to give producers extra exposure for their Items. Not only that, they “handle setup and takedown according to your brand vision, plus provide you with full-time, dedicated sales associates”.”
And you keep 100% of the sales! “Brands pay one up-front, all-inclusive fee to participate in The Market and keep all of the sales revenue they make in our stores.”
What an opportunity!!
Interested? Check out the details here: The Market @ Macy’s