Macy’s takes stake in retail-as-a-service tech firm
Macy's is smart to forge platform partnerships and brand acquisitions that reinforce its core premise. My latest Retail Wire weigh-in.
It’s nice to see Macy’s branching out and exploring new ways to deliver on its core premise and brand strength. Forging outside brand and platform partnerships makes so much more sense than throwing darts at new categories (J.C. Penney) or crow-barring third party sellers into an online marketplace (many others). Newness and frequency have never been more important in softlines/fashion retail and STORY and The Market allow Macy’s to quicken the cadence through partnership, even as Macy's maintains a more traditional pace with its core lines.