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Macy’s Jeff Gennette Talks Beauty at CEW Luncheon

Macy’s is homing in on its customers.
“The customer has more choice than ever,” said Macy’s Inc. chairman and chief executive officer Jeff Gennette. “Brands and retailers are on notice about how we’re going to have a customer-centric strategy versus a brand-centric strategy and that is where Macy’s has been mining for the last couple of years.”
The company has homed in on what Gennette calls Macy’s “fashionable spender,” who is looking to spend on beauty and shoes, and is working to reduce friction across the shopper journey by ramping up digital initiatives, including mobile, which Gennette said is now a billion-dollar business.
“Is it finding the product, is it finding the price, is it finding the salesperson, is it finding the right influencer for products, is it the ability to show it to your friends? That’s friction that is table stakes,” Gennette said. He spoke to a crowded room of Cosmetic Executive Women members in New York Tuesday, diving into Macy’s beauty strategy as part of its broader reinvention.
Before now, Macy’s would have looked at downward trends from 2015 and 2016 and called them “cyclical,” Gennette said — but now, it and other retailers have realized there has been a “secular change.”
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Via:: https://wwd.com/beauty-industry-news/beauty-features/macys-jeff-gennette-talks-beauty-at-cew-luncheon-1202921576/