By Alex Zurawik
Macy’s is finally joining the YAYA bandwagon. In the next year or so, Macy’s department store will be targeting Millennial shoppers by adding 13 new brands, as well as extending 10 current brands to appeal to 13-30 year olds. New brands will include lines from Marilyn Monroe and Keds to G-Star Raw apparel and the Impulse section for 19-30 year olds. But, whether or not these new brands are added, this will be a very important marketing strategy for Macy’s.
Getting the word out about these new brands and brand extensions is Macy’s Chief Executive, Terry J. Lundgren’s, main focus. He believes using social media, such as Facebook and Twitter, is a key strategy in attracting this younger demographic. With YAYAs being so well versed in the online world of social media, it’s crucial for Macy’s to get involved if it wants to be the number one place for Millennials to shop.
Another way Macy’s could utilize the Internet would be by adding more ways to purchase items. Since older and younger YAYAs behave and spend differently when it comes to apparel and retail, Macy’s should appeal to each of them using various techniques.
In a recent study from PR Newswire, it was found that shopping for clothes is an important in-store activity for younger Millennials. On the other hand, older Gen-Y consumers are more likely to purchase their products and clothing online. If Macy’s offered more online options for older Millennials and more in-store options for the younger Millennials, the company could successfully appeal to both age groups, as well as increase its profits.
Although Millennials have significant purchasing power and seem to be a promising target audience, do you think Macy’s will rely to heavily on this generation and forget the other generations? Do you think this is a good marketing strategy?
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This entry was posted on Wednesday, October 31st, 2012 at 8:49 pm
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