Macy’s is putting high priority on Generation Y with the retailer’s implementation of its Millennial initiative. According to an announcement from the store, Macy’s will roll out more than 20 brands for its Macy’s mstylelab (primarily serving customers ages 13 to 22) and Impulse (primarily serving customers ages 19 to 30) departments.
Announced in spring 2012 with an internal restructure to focus on this customer and a plan to be implemented in progressive stages, Macy’s Millennial strategy aims to position the retailer to attract and retain customers in the Millennial generation — now America’s largest and most diverse age demographic with spending estimated at $65 billion each year for the kinds of merchandise sold at Macy’s, the announcement said.
Macy’s is using its research into the preferences of Millennial-generation customers to plan its assortments for men and women in this age group. These preferences are rooted in lifestyles that influence how Millennials express themselves, primarily along the spectrum of their interests in fashion and culture. The research will also be used internally by Macy’s to shape marketing, store environments and visual presentation in mstylelab and Impulse, the announcement said.
“We have identified Millennials as a priority customer for Macy’s, and we know that growing our relevance for this customer will start with product,” said Jeffrey Gennette, Macy’s chief merchandising officer. “Over this season and spring 2013, we will be introducing 13 new brands targeted to a cross-section of lifestyles, as well as growing those within our current portfolio that are already passion brands for this customer. This product investment and repositioning is the first phase of our Millennial strategy and will help strengthen Macy’s credentials and credibility with this customer by offering them newness, fashion and innovation across product categories and lifestyles.”