Macy's Doubles Down on Its 'Omnichannel' E-Commerce Future
Macy's (M) is bullish on e-commerce.Online sales for the department store chain grew more than 30% in 2010, and Macy's is heavily investing in infrastructure upgrades, such as e-commerce product fulfillment centers, to support an acceleration of that advance.
The retailer is also determined to attract top talent as it doubles the number of employees at Macys.com and Bloomingdales.com, the online arm of its upscale sister chain, over the next three years, Macy's executives said during Goldman Sachs' (GS) dotCommerce Day conference in New York on Tuesday.
Today, e-commerce accounts for about only about 6.5% of Macy's $25 billion in sales, according to Goldman Sachs' estimates.
But the company is quickly moving from being a multichannel retailer to an "omnichannel" company, said Peter Sachse, chief marketing officer of Macy's, and chairman and CEO of Macys.com com, during the conference.
Vying for Talent with Facebook and Groupon
Being a truly omnichannel retailer means "the consumer can choose whatever channel she wants to interact with you on, any device that she'd like to do that with, and [still] get a very consistent [shopping] experience," Sachse said. "It also means that you have to figure out a way to leverage inventory across all those channels."
Source: http://www.dailyfinance.com/2011/06/23/macys-doubles-down-on-its-omnichannel-e-commerce-future/
clear your debt cnn debt calculator consolidate my debt consolidation debt loan payday