This is What Giving Up Looks Like

Trade journalists seem to love trying to protect Macy's ... a brand that proclaimed itself "America's Omnichannel Store" a decade ago. Good for them! How's it working out?

Oh, they're going with value messaging that goes beyond discounts. Ok. Let's go to the website and find out what that looks like. I elected to highlight the "messaging" they offer to the "consumer".

Bill Parcels, the famous coach of the NY Giants, once said "You are what your record says you are". Macy's is what Macy's tells us on their home page. And guess what? You're not going to "out-Temu" or "out-AliExpress" Temu or AliExpress.

It's always fun to read how the press frames messaging around Macy's. Here's two distinctly different approaches.

"Customers grow cautious". How come Amazon never seems to have customers who grow cautious? I'll wait for your answer.

This is what giving up looks like. You aren't proud of what you sell, so you gamify the system poorly so that you aren't even competitive with those who do it well (Temu / AliExpress), then the customer is blamed for being "cautious".

This is a brand that, since proclaiming itself "America's Omnichannel Store" a decade ago posted 7 quarters of growth out of (checks notes) 40.

Worse, four of the seven quarters of growth were off of COVID quarters when stores were closed due to a pandemic.

This business is an unmitigated disaster ... a complete representation of the failed omnichannel thesis paired with a gamification of prices that pales in comparison to modern brands doing it well.

Early in my career, I worked at Lands' End. That was a brand that knew exactly who/what it was. Mid-career, I worked at Nordstrom. That was a brand that knew exactly who/what it was. Between the two, I worked at Eddie Bauer, a brand that had no idea who/what it was. We'd be in meetings where one faction wanted to go back to our "heritage" ... another faction wanted to "update the brand". Non-stop arguing, back-stabbing, in-fighting, paralysis, red-tape, half-hearted change, mis-guided attempts to "re-invent", you name it. It was like the worst episodes of "The Apprentice".

I distinctly recall when the "Executive Vice President of Global Brand Direction" (let that title sink in for a moment) came out on stage ... took a deep breath, and then talked about updating the brand. On the outstanding PA system in the meeting area that seated hundreds of eager employees, he played a song from the 1940s ... then he played an updated version of the song from the 1990s. He asked if anybody noticed how "updated" the new song was? (heads nodded). He told the audience of Managers, Directors, and Executives that Eddie Bauer was going to go through a similar evolution, then left the stage. No insight into "how" this would happen, just the mention that it "would" happen and he left the stage.

Two things shouldn't surprise you.

1. Eddie Bauer was a brand that adored the Macy's style of discounts/promotions to cover up weak merchandise productivity and poor marketing strategy.
2. Eddie Bauer would go through bankruptcy twice in the ten years that followed.

Also - I adored the CEO of Eddie Bauer at that time. He was great. What an impossible job he had.

Discounts and Promotions are what giving up looks like, dear readers. Ask Macy's.