...Bloomingdales “The Most Famous Store in the World” Brief History: Who would have thought that the origins of this grand retailer, was the hoop skirt? The history of Bloomingdales dates back to hoop skirt being the first item that was carried by Joseph and Lyman Bloomingdale in their Ladies Notions Shop in New York City. Why the hoop skirt? At the time, in the late 1800’s many retailers focused on just one garment, this was their specialization, however the Bloomingdale brothers where different, they would eventually open an East Side Bazaar, and begin to sell a wide variety of European Fashions. This eventually would be the beginning of that what we know as Bloomingdales today. The Bloomingdale bothers pioneered themselves to make just about every mature change in the evolution of department stores. It is this same philosophy that it followed throughout the merchandising and marketing of the store today. In 1886, the East Side Bazaar moved to the current flagship location that is today (on 59th and Lexington) and become “Bloomingdales” as we know it. Lastly by the 1920’s the Bloomingdale brothers had made the department store the entire block. During the completion of this project, a glamorous art-deco edifice to cover the entire block was built, and still stands today. Today, Bloomingdales is America’s only nationwide, fill-line, upscale department store. Not only is it noted as “a store like no other,” it is considered to be the leading attraction for tourists...
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...Case A14: Bloomindale’s Customer Service Reaches Abroad Bloomingdales positioned themselves as forward thinkers, which has allowed them to be the forefront of offering a unique retailing experience for their international markets. Ted Baker London described Bloomingdales as a “Retail Theater,” because of its music, lighting, sophistication and curating a sense of high-end fashion that has been established across the world. As leaders of this unique retailing experience through their customer service and merchandise, Bloomingdales has built a reputable foundation to the domestic and international markets. International customers have distinctly different needs from the domestic Bloomindale’s consumers, that will need to be catered too in order to receive the increase of new consumers and consumer repurchase. International countries have to take in account U.S. sizes scaling differentiations across international consumers, import duty that might be assessed upon return, whether or not electronics will adapt to foreign countries electronic sources, merchandise shipment, and translation barriers. For the international markets services that could be provided are an expertise with cross boarder operations, reducing risk that may come with servicing international consumers, site wide translations, size comparability, multilingual support, localized pricing, low landed cost such as shipping, taxes, duties and an easy intuitive checkout process. To be more specific language...
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...People who engage with a brand through multiple digital channels buy as much as four to eight times more as those who simply interact with retailers through one channel,” according to Maginus digital marketing executive Amanda Mulquiney. ARTICLE HIGHLIGHTS: While retailers may consider showrooming to be a threat, the power of in-store Wi-Fi and displays shouldn’t be underestimated. M&S’s free next-day-delivery-to-store proposition has supported 54 percent of the orders placed or collected in-store since launch. What began as a marketing gag generated engagement about the Bloomingdales brand’s use of cool technology to create excitement about the Super Bowl. If that is the case, doesn't it make sense for retailers to use digital in-store, providing the types of devices with which omnichannel shoppers are already used to interacting with? While retailers may consider showrooming to be a threat, the power of in-store Wi-Fi and displays to enable consumers to access product information, reviews, and prices shouldn’t be underestimated. Let’s look at three examples of retailers innovating with digital technology to improve their in-store experience and drive engagement and sales. Marks & Spencer’s Digital Flagship Department Stores: M&S has been providing more ways to access products, including the introduction of new browse-and-order points, large digital screens that play catwalk videos to showcase products, and virtual makeover counters with facial recognition technology...
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...Straus, Filene’s, and Bloomingdales, under a common holding company named the Federated Department Stores. “The roots of these individual stores stretches back well into the 19th century and deep into the fabrics of the communities that they served”. This merger under the Federated Department Stores name left each department store with its brand name intact, while linking the financial aspects of them each into a single company. In 1945 the holding company evolved into an operating company, which began expanding and acquiring across the United States. By the early 1960’s the operating company had grown to 14 divisions with annual sales exceeding $1 billion, and by the 1970’s they had quadrupled this figure by following the population migration to the suburbs. In the start of the 1980’s Federated now had 20 divisions and over 364 stores. At the end of the 1980’s Federated was under siege by Robert Campeau through a leveraged takeover and only two years later in 1990 they filed for Chapter 11 Bankruptcy. During the proceeding years the company was consolidated down and emerged as a “new” public company, acquiring Macy’s in 1994, and soon after opened macys.com. In the 2000’s Federated acquired May Company, a long time competitor and doubled the size of the company; this placed a Macy’s in 63 out of 65 of the top US markets. In 2007 Federated Department Stores changed their name to Macy’s Inc., a bi-divisional corporation with the brands Macy’s and Bloomingdales. Currently, the scope...
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...Pri Bus 557 Application of Financial Statement August 30, 2012 Macys, Inc., together with its subsidiaries, operates stores and Internet Websites in the United States. Its retail stores and Internet Web sites sell a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. The company also operates Bloomingdales Outlet stores that offer a range of apparel and accessories, including ready-to-wear, shoes, fashion accessories, jewelry, handbags, and intimate apparel products. As of January 28, 2012, it operated approximately 840 stores under the names of Macys and Bloomingdales; and 7 Bloomingdales Outlet stores, as well as macys.com and bloomingdales.com. The company was formerly known as Federated Department Stores, Inc. and changed its name to Macys, Inc. in June 2007. Macys, Inc. was founded in 1820 and is based in Cincinnati, Ohio. How Many Analysts Rated the Company? The company was rated by ten (10) analysts from January 2009 to April 2012. Of the ten analysts, Barclays Capital, Soleil, JP Morgan and Deutsche Securities recommended that investors upgrade their investment of Macy’s stock, UBS, FBR Capital and Sterne Agee recommended Initiated while Deutsche Bank, JP Morgan and Soleil recommended a downgrade. The number of analyst rate the company for this Quarter has risen to 13...
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...The most appropriate research design for our chosen problem is descriptive. Descriptive research is concerned with finding out who, what, where, when, or how much. We chose not to use exploratory research because it is more appropriate for the total study in topic areas where the developed data are limited. We also chose not to use causal research because it focuses on the effect that a variable(s) has on another (or others) or why certain outcomes are obtained. Our study’s method of data collection is communication and the researcher control of variables is the ex post facto design. Longitudinal studies are the time dimension, statistical study for the topical scope, and field conditions for the research environment are most appropriate for our organizational problem. What data collection instrument(s) will be used? Survey? Interview? There are two methods of research in which we are preparing to use. One method of research is the observation method and the other is the focus group method. Both methods are an excellent choice when trying to take control of the losses of a business do to theft. The observation method which is sometime referred to as the field method will give Bloomingdale’s loss prevention team the ability to observer and gather first hand information from the loss prevention team on the behaviors of its employees’ theft problems and issues as well as the consumers. The biggest advantage of this method is that is gives the loss prevention teams an opportunity...
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...billion (USD 31.01bn) in 2011, will grow 32.9 per cent to AED151 billion (USD 41billion) by 2015. Many of the Retail sub-sectors are expected to see a growth a few examples of these can be the Over the counter (OTC) Pharmaceuticals which from 2011 had sales estimated at around 1.1 billion Dirhams, (IBM) expects this two reach 1.54 billion dirhams by the end of 2014 which is an increase of 40 percent. Automotive sales has increased from 403,000 units sold in 2011 to 601,000 units sold in 2014 which is an increase of 49 percent. Consumer electronics has increased 26 percent since 2011, and Food sales since 2011 has increase 36 percent. Majority of the FDI comes from the western hemisphere, an example of this is the retail store known as Bloomingdales that opened its first middle-eastern store in the U.A.E. at the Dubai...
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...Advertising in China Digital advertising: Lancôme entered the Chinese market by building its own Chinese community (www.rosebeauty.com.cn), which helped the consumers to understand the Lancôme products and also using this community consumers can interact with each other which made Lancôme a commanding and organization in China. This policy of Lancôme became more effective as an organization because of the fact that China did not have any effective communication media like Facebook, twitter or YouTube. Television advertising: the videos that Lancôme used in china to be broadcasted in Chinese television were broadcasted in their local language which gave Lancôme a reason to rise as an organization. Print & outdoor advertising: Lancôme always tried to target the emotional needs of their consumers and provide them with the products they need, being one of L’Oreal’s most successful brand it does a remarkable job in advertising their product throughout china. Advertising in UK, USA & France: Digital advertising: Facebook have been a primary part of the promotional strategies for the Lancôme. Facebook allows the company to mold their advertisement according to the consumers and also they can present their ideas to multiple consumers at a time. The solitary reason of using Facebook is that any user with an interest towards beauty products might view their advertisement and then share among its own circle which intern results in promoting Lancôme products Lancôme...
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...profit), debt levels, historical stock performance (if public), innovation (patents), and legal issues. Multiple time points are better than one Macy’s has a long term strategic plan. In a way they have been reinventing themselves. They are practicing corporate responsibility with a strong direction towards sustainability. Macy’s mission statement is: "Our goal is to be a retailer with the ability to see opportunity on the horizon and have a clear path for capitalizing on it. To do so, we are moving faster than ever before, employing more technology and concentrating our resources on those elements most important to our core customers." In addition, Macy's has a Vision Statement which focuses more specifically on its Macy's and Bloomingdales branded retail stores. The Macy's Vision Statement is: "Our vision is to operate Macy's and Bloomingdale's as dynamic national brands while focusing on the customer offering in each store...
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...Calyx & Corolla 1. Gap in market structure 2. Strengths/Weaknesses 3. Strengths and weaknesses of Calyx and Corolla versus a conventional retailer? 4. Markets/Benefits (recall class discussion) 5. What are they missing out on? Are they under-marketing? 6. Is Database Marketing the same as Direct Mail? How is database marketing different from conventional mass marketing? 7. What should Calyx & Corolla (C&C) do? Market Structure 1. Why does the gap in the market for C&C arise? 2. Long distribution channel Grower $5 ( Distributor (50% markup) ← $7.5 Wholesaler (100% markup) ← $15 Florists (150% 59 200% markup) $37.50 to $45.00 3. - Perishability/Freshness a critical business dimension - Stock at store seven days old on average - “Fresh” flowers have a premium Strengths • Freshness: • Longevity: (longer house life) • Information: Catalog provides information about flowers not available with an FTD florist • Information on arrangement/care • Suggestions on vases/display accessories • Variety: 30 geographically dispersed growers • Personalization: Hand-written card • Database: • Focus on lifetime value • Acquisition then retention • Dialogue with consumer Weaknesses - Flowers arrive in a bland FedEx package - May not be in full bloom on receipt - Unable to provide Sunday delivery - Vulnerable to bad weather - Have no consultation...
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...Factoring who were the other partners in Trivia 2) What risks & obstacles have to be overcome in order to pursue the opportunity successfully? How did Bob Reiss accomplish this? * Offering incentive, 5% ad allowance, to department stores for placing ad in print * Free media publicity * In this industry the fad of products was really high * The industry was highly competitive with big retailers having maximum say and share * R and R was a new and small player in this industry which was unknown to both retailers and customers so there were doubt of their acceptance * In order to achieve credibility, they went ahead with collaborating with TV Guide * TV Guide could be associated with prestigious retailers like Toys.R.Us, Bloomingdale and Marshall...
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...take all day, they try on clothes and most of the time they don’t even buy what they have tried on. In the mall that I went to, there are only a couple of stores for the upper class and many of these stores are being shut down because of the lack of business. The Black people buy most of the shoes and hats in the malls. White and Asian men like to buy male purses (hand bags). Black men seem to prefer the watches with the big faces, and the white men like the smaller faced watches. At the downtown upper class mall, the food courts have more options than the middle class malls, such as sushi. This upper class mall (Lenox) does not have Sears or JC Penney’s, the middle class mall (Gwinnett) does have those department stores. Lenox has Bloomingdales, Sax Fifth Avenue and Belk’s. Lenox mall is meant for upper class people. But many middle and lower class people get dressed up to walk around the mall which is now making more upper class people not want to shop at this mall. There are nicer restaurants around the mall. The white people shop and buy things but there are more black people at the mall. This mall is located in Buck head which is the more affluent part of Atlanta. When couples walk through malls, the men usually are just tagging along. The women take control of the shopping at the mall. Many guys only go to the malls to pick up girls. Girls like to go shopping in groups. The white people at the mall lid...
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...In the year of 1933 a woman by the name of Jean Xiu was born. This woman just happens to be my grandmother. My grandma led a privileged growing up in China because she was a part of one of the wealthiest families in China. Her father was the man who had authority over all the oil, rice, and salt in China. She grew up on a large estate with acres of land for her to explore. She would spend hours running around exploring the land. Life was good for her until 1949 when Mao took over and the communist revolution started. When the communists started to take over my great grandfather was a top priority because of his wealth and his family’s connection to the late Qing Dyanasty. At first the communists tried to occupy his house and use it as their base in Nanking, but my great grandfather was proud and would not let them enter. Then one day in 1950 the communists stormed the house and killed everyone in my grandmothers’ family except her and her sister. They burned the house down along with everything my grandmother ever knew inside it. After the burning of their house with no place to go they sought refuge with their one surviving uncle. My grandmother was forced to cut her hair so she could be passed off as boy. She also had to use her mother’s maiden name to be able to escape prosecution. My grandmother’s uncle was a doctor and convinced the communist army that my grandma and her sister were his two sons. He told the army that he was a doctor but the communists said that they needed...
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...various retailer’s strategy to Nordstrom. The paper seeks to describe the inventory management by analyzing the retail industry, the hierarchical socio-economics of consumers and income, and generic and competitive strategies. In the last few years, Nordstrom's same-store sales have increased by 8%, higher than the department store average. Furthermore, the company's inventory turnover rate is 5.41, an increase from 4.48 in 2005. The new integrated system puts Nordstrom in a great position moving forward as the economy continues to rebound while upper income consumers continue to spend. The paper also seeks to describe the new integrated inventory management system. This system has allowed Nordstrom to outperform its competitors such as Bloomingdales and Saks Fifth Avenue and obtained a competitive advantage even through the downturn of the economy. Customers can see what is in stock based on each...
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...How? Advantages to Firm Advantages to Customer Value Creation C&C launched a unique flower delivery system by buying flowers directly from growers, convincing them to retail, and shipping directly to customers via Fedex. C&C’s top management nurtured one to one relationships with 30 geographically dispersed growers with onsite account support for administrative tasks (e.g. stringent packaging, top-notch handwriting) Top management team comprised of veterans in flower industry (Owades), customer service (Wilson), and catalog marketing (Hayes). Cost Focus: By incorporating value chain directly into its business process, C&C had a competitive cost advantage with COGS at 25% compared to FTD’s COGS at 60%. Minimize market fluctuations: Two-way information flow on demand and excess capacity between growers and C&C increased sales and offset seasonality for both. Barriers to entry & imitation: C&C’s exclusive contracts with growers prohibited growers from supplying to any other mail order retailer. Customer Focus: C&C delivered flowers fresher by 1-2 weeks (than conventional florists) to customers at a very competitive price. Customer Experience: C&C provided high aesthetics and stringent quality packaging besides customer awareness to amplify shelf life or décor. Positive press in leading magazines maintained and attracted customers. Value Preserv-ation C&C established a critical relationship with Fedex, a natural process “fit”, because customer perceived time...
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