Department Stores
Macy’s Name Changes: Good Bye Marshall Fields, Hello Mediocrity
Bye, Bye Hecht….
Sayonara Marshall Field’s….
Peace out Lazarus….
Today, September 9, 2006, is the day that pretty much every department store in America becomes a Macy’s.
Even though we signed petitions (keepitfields.org collected close to 60,000, yes 60,000 names), that wasn’t good enough for the corporate heads. According to a fashion industry friend of this blog, Macy’s “researched” the names on the petitions and found that the people on the list were “old” (I’m 30) and we all know that “old” people don’t shop. They sit around eating creamed corn, playing scrabble, and ordering the entire spring collection of the Suzanne Somers line on QVC, letting those “crazy kids” deal with all that fashion babaloo.
A couple of thoughts….
1. Macy’s and Marshall Field’s are not the same place. I grew up in the Midwest, in a city that had both a Macy’s and a Marshall Field’s. Fields is more on par with Bloomingdales than Macy’s.
2. Target is better than Macy’s. Not only are the products better designed, less expensive, and come with a more flexible return policy (90 days), Target is a lot more tech savvy than Macy’s. Try returning something you bought online to a local Macy’s and you’ll see the difference. Apparently, I’m not the only one who thinks so…. Target has been growing at a steady pace, while Macy’s (and department stores in general) have been struggling.
3. People who live in NYC don’t like Macy’s. Every New Yorker I know avoids the Macy’s Herald Square location like the plague and rarely have anything positive to say about the store. While, every Chicagoian (sp?) I know, has fond memories of shopping at the State Street Marshall Field’s, especially during the christmas season.
4. Macy’s is better than Hecht. I’ve been to quite a few Hecht and I must say that the boys at Federated Department Stores was on the money changing this one over to a Macy’s.
For more on the good fight—head to fieldsfanschicago.org
TBF Tool: Retail Definitions
This tool provides a little lesson in the basic differences between your favorite retail stores. Understanding these differences (like pricing strategy, sale structure, etc) can help you save money and time.
Off-price stores (T.J. Maxx, Marshalls) sell a wide variety of quality brand name, designer apparel for men, women and children at 20-60% off department and specialty store prices, every day. These stores buy merchandise in large volumes, do not have fancy store fixtures, and maintain company-owned distribution facilities which ticket and ship the merchandise to the stores (saving the vendor/store/designer money), which keeps prices low. Also, off-price stores rarely have sales, but offer every day values on quality, designer and brand name fashions. Shopping off-price can be compared to a fun, treasure hunt . . . you never know what merchandise will be there. Some shoppers feel this is a negative, especially if they have something specific in mind (plain black skirt, size 8), as there is no guarantee they’ll find that specific piece.
Discount department stores (K-Mart, Wal-Mart, Target) primarily sell private label merchandise (names they have created). The difference between brand name/designer names and private label is in the relative value and quality of the merchandise. For example: a discount department store sells their own private label blouse for $16.99, where a comparable style at a major department store sells for significantly more. However, what you receive in discounts, you often pay for in quality, as the fabric/blouse was manufactured as inexpensively as possible to sell at the lower price.
Department stores (Macy’s, Nordstrom’s, Marshall Fields) also offer a wide variety of brand name and designer apparel. They charge premium prices for the merchandise and often have sales and clearance sections to more stock and compete with other stores. The store may return the merchandise to it’s original price after the sale period has ended. Department stores must also pay the vendor/designer advertising costs to promote the name brands in their advertisements. This, along with the ability to return unsold merchandise to the designer, both can contribute to the higher price tag at this type of store. Unlike off-price stores, you can pretty much guarantee you’ll find a particular item if you are looking for it.
Specialty stores (The Gap, Ann Taylor, Banana Republic) sell their own name brand label merchandise at premium prices. Specialty stores have a variety of costs to pay; all which eventually add to the cost of the garment. They are usually located in enclosed malls, which have high rents. Also, the store design is generally fancier with customized merchandise displays. Like department stores, they only conduct sales on select items at certain times of the year and often have a clearance section. Again, like a department store, the advantage to shopping a specialty store is the variety of merchandise and sizes.
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