Is Macy’s the Future of Retail

Share

Screen Shot 2015-03-05 at 6.38.29 PMI don’t do many things well.  I am a master, though, at shopping.  I admit it.  I am or rather was a frequent shopper.  I’m on the wagon.  I put myself on it 2 years ago last May.  I am going to remain on the wagon until the end of this May.  I have not been inside an antique shop since July of 2012.  Even though I am on the wagon – for awhile longer, I know my shopping.  Even if I live in the middle of nowhere, there are things I like when I shop and things I don’t like.  I like big department stores.  I learned retail by working in one.  In many ways they are uniquely American, and, a few years ago were an endangered species, thanks to the likes of Amazon and other online retailers.

Now, suddenly that which is old, is going to be new again – Thank Heavens!

NYU professor Scott Galloway, who has a formula to predict business failures and successes says that Amazon could be in serious trouble – because it has no store fronts.  In the short term, it looks good.  Long term investments, over 5 years, shows that Macy’s is the clear winner. He predicts that, when it’s all over, Macy’s has the winning formula of storefronts and e-sales.

Business Insider
Business Insider

There’s something else here.  When you have storefronts, you have employees who need to be treated fairly, well paid, with real world, traditional jobs.  They’re not just warehouse slaves.  They are people who must be properly trained.  They must follow a dress code.  There is an opportunity for advancement. It is stable, well-respected employment – with benefits.

Even more importantly, Macy’s owns the most important store in the world – Bloomingdales.  There is something reassuring about this – very.  It is traditional.  In so many ways it reeks of middle America.  We need more things to reek of middle America.

Share