Macy’s is also known as R. H. Macy and Co. it is a chain of department stores in the US. The Macy’s Inc owns the department store. The company also owns Bloomingdale’s. The company was founded in the year 1858 in New York by Rowland Macy. Today the company has headquarters in the Ohio. The company serves all the US with its products. The company sells clothing items, footwear, jewelry, furniture, bedding, accessories, beauty products and also housewares. The customers trust the brand and with such a long history the company has served billions of people. The company also has a subsidiary with the name of Macy’s Furniture Gallery. Macy’s is one of the largest departmental stores in the US. Another great thing about Macy’s is that it has the largest store in the world also i.e. Macy’s herald Square covers more than 1 million square feet. The company is well established but still there are a few weaknesses and threats. Here is a detail SWOT analysis of the company which will provide you an inept overview of the company.
These are the strengths of the company:
• The Macy’s is one of the largest chain stores in the US with operating more than 800 stores across various states.
• Excellent brand recognition
• Diverse merchandise
• The company ships products over 100 countries across the world
• Quality customer services
• Hygienic and state of the art stores
• With the acquisition of Bloomingdale the company has got even stronger customer base and classy customers
• The excellent updated and high-profile stores attract the customers for trend-setting
• The company has agreements with companies like Madonna, Sean Combs etc. which gives it a better position in the market
• Strong market share
These are the weaknesses which the company should focus on:
• Not enough revenue generation
• The company has limited global brand recognition. It should work more on the international marketing and online marketing for better recognition.
• The market share is decreasing due to fierce competition.
• The company only has two lines of business i.e. Macy’s and Bloomingdale. The company should plan to invest and spread and operate more subsidiaries.
These are the opportunities that the company should avail:
• With such a huge brand name in the US the company can use it for better marketing across the globe.
• Ecommerce is another opportunity that the company has to grow and create brand awareness among the international customers
• The company should open new stores to boost sales
• The company should focus on the organic and inorganic growth abroad
• With the promotional events such as environmental causes the company can create more awareness
The company should plan to overcome these threats:
• The company should focus on the competitors such as J.C. Penny. And counter their moves.
• Low prices offered by the elite brands such as Wal-Mart.
• Slowdown of economy makes people spend less
Macy’s is one of the largest departmental stores that sell clothing products, house wares, jewelry items, furniture and more. Macy’s has a long history of customer satisfaction. With the above SWOT analysis it is clear what the strengths are and opportunities of the company and how the company can use them to get rid of the threats and weaknesses.