Do you have your eye on working at Macy’s but want to know what they are all about?
The point of a company’s mission statement is to define corporate strategies, as well as establish goals for the company to work toward. The purpose of adopting a company vision is to guide the direction of growth and help the firm’s expansion in the sales industry.
Macy identifies the demand in the market to provide luxurious designs and contemporary labels to enhance every customers’ shopping experience. The success of the company is therefore determined by the quality of service and products that are provided to their consumers. Macy’s undoubtedly has a long-standing reputation when it comes to providing the best on the market, and this is what enhances their reputable outlook.
So, let’s take a look at the Macy’s Mission and Vision Statement Analysis and find out all about the company.
Contents
The History Of Macy’s
Founded in 1858 in New York City, Macy’s is a US retail company that includes a total of three brands which comprise Macy’s, Bloomingdale’s, and Bluemercury. This American retail chain specializes in omnichannel fashion, and the popular Herald Square, New York, remains the biggest department store in the world.
With over 700 stores in over 100 locations worldwide, Macy’s offers a dynamic and iconic shopping experience which makes it a challenging retail giant to beat. Macy’s has evidenced its ability to stimulate growth and increase its annual sale revenues year by year
Continuing to exceed expectations…
This has been established by its successful mission statement and company values that represent a strategic plan for this retail companies future. Macy’s continues to exceed its objectives which are carefully facilitated by their trustworthy and dedicated managerial team, which has led the company to accomplish exceptional sales objectives.
| Name | Macy’s |
| Industries served | Retail |
| Geographic areas served | Worldwide |
| Headquarters | New York, U.S. |
| Current CEO | Jeffrey Gennette |
| Revenue (2021) | $23.399B |
| Profit (2021) | $9.452B |
| Employees (2021) | 75,711 |
The Macy’s Mission Statement
Macy’s mission statement 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.’
From this statement, it’s easy to envisage this retail’s companies goal to expand and become a popular retail destination for consumers nationwide. To ensure their goal is a success, Macy’s identify the need for clear business strategies to achieve their sales goals and how best to move forward and outshine the competition.
This mission statement includes several key areas that are integral to their brand image. The main areas are:
Growth and opportunity
Macy’s focuses on developing a competitive brand image and an outstanding retail experience that is ‘premium.’ To keep up with the latest trends and competition, this retail giant has adopted a mission to ‘move faster than ever before’ which indicates to be successful is to stay ahead of the game.
Their attention to economic growth and opportunity. This is evidenced by their continuous goal to maintain a positive business culture which they claim is ‘key to their success.’ Macy’s upholds a clear mission to create a strong ‘culture of shared expectations’ which ‘helps the organization to deliver on promises for stakeholders.’
This statement shows how detrimental collaborating with other members is key to this companies sales revenue and success.
Technology
Macy’s can adapt to the demanding changes in business and keep up with the latest advancements to enhance their company. Macy integrates the use of shared new technology collaborations that aim to ‘reinvigorate the customer experience and transform the way Macy’s works.’
The use of applications to support consumer shopping experience has been supported by Nata Dvir. As Macy’s general business manager of beauty, she highlights that their innovative technological strategies are interactive and ‘digitally driven.’ Technology is therefore used as a business initiative to enhance customers’ experience and to ‘evolve its beauty experience both in-store and online’ (Macy’s Inc. 2019).
Customer Satisfaction
Macy’s prioritizes customer satisfaction as their integral company goal. Creating a quality shopping experience for their consumers is essential and easily achieved by their diverse range of merchandise products. The extensive range of their merchandise is what creates a unique customer experience that is appealing and different from the rest.
The Macy’s Vision Statement
Macy’s vision statement is ‘to operate Macy’s and Bloomingdale’s as dynamic national brands while focusing on the customer offering in each store location.’ The purpose of this vision is to convey a clear message that this company is dynamic and capable
To ensure their success for over a century, Macy’s has proven its ability to withstand any competition or economic challenges and remain on top. Their vision is driven by innovation and finding new ways to entice their consumers. This is evidenced by their constant attempts to improve how their business operates, reinvent products, and frequently adopt business ideas.
The key components to Macy’s vision highlight these two concepts:
Dynamic and Iconic brand image
Macy’s promotes a professional and consistent brand image. They are constantly inventing new products and merchandise to meet contemporary demand. The company maintains a vision to create a dynamic heritage brand that is quintessential to American culture and tradition. Blue Mercury’s brand image is also iconic and aspires to be ‘widely recognized as the nation’s largest and fastest-growing luxury beauty products and spa retail chain.’
While Bloomingdales prides itself ‘on being like no other store in the world’ and has served customers for over 150 years. It’s quite apparent from the reputable scope of all three brands that Macy’s maintains a dynamic and iconic vision that aims to inspire every consumer’s shopping experience.
Customer satisfaction
Perhaps one of the most integral aspects of any business is providing a high-quality customer experience. It’s evidenced that Macy’s has built a reputable and loyal customer base which has contributed to their success for over a century.
Ensuring consumer needs are not only met but exceeded is what differentiates Macy’s as an iconic and multi-national retail brand that leaves an outstanding impression on customers. Macy’s encourage ‘building and celebrating community,’ which is an initiative that complements the core value of ‘giving back’ and making a difference.
It’s all about the customer…
To support their emphasis on consumer satisfaction and care, Macy’s has a clear and contemporary focus to integrate key approaches to their business model, such as sustainable policies. Conclusively, Macy’s outlines how their business strategies foster ‘integrity and accountability, which harnesses a leadership culture of ethical conduct and practices.
The Core Values
The core values of Macy’s are reinforced by their vision to be innovative and inspire the retail landscape. At the core of their company values are diversity and inclusive policies, innovation, and collaboration.
Diversity and Inclusion
This retail company has outlined important strategies to increase customer experience with a clear focus on diversity and inclusion policies. Outlined in a ‘five-point approach,’ Macy’s has set specific goals to reflect the diversity of their workers, customers, and the environment.
Their holistic approach emphasizes how ‘diversity and inclusion are essential to their culture and core values.’ These initiatives highlight the importance Macy’s place on influencing inclusivity and improving company standards and practices. Placing the quality of customer experience at the heart of their business ensures their reputable success.
Innovation
Macy’s are attentive when it comes to inventing new and enticing products. They use technology to enhance their brand image and customer experience. Creating original brands and label designs ensures Macy’s retail line is unique and appeals to a niche in the market.
Consumers are targeted using advertisement and marketing strategies. These encourage an ‘off-price and on brand’ outlook that includes top-quality products at competitive prices. Similarly, all three company brands aim to offer contemporary, luxurious, and distinctive emerging brands. These are also different from the regular products on the market, which continue to ‘push the boundaries of innovation.’
Macy’s Mission Statement History
Macy’s mission statement has remained unchanged through 2020 and 2023.
Read more: Bloomingdale’s Return Policy
More Info And Advice About Macy’s!
Of course, we’ll start with my Macys Application, if you’d like to apply, as well as my Macys Interview Questions and Macys Sales Associate Interview Questions. As well as my Does Macys Run Background Checks, in case you have a criminal record.
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Final Thoughts
Macy’s promotes a collaborative culture amongst its employers and management team. Implementing policies and company regulations ensure its success and ability to build a strong work culture. Building trust with colleagues and encouraging strong values is integral to developing a functional and professional partnership.
Extensively Macy’s focused on integrating policies that are essential for promoting ‘a company culture of ethical conduct by emphasizing our company’s core values of acceptance, respect, integrity and giving back’.
Furthermore, these values reflect their relevance to business compliance strategies. And how to best overcome competition and move forward in the retail industry.
Good luck in your new career at Macy’s!
References
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- Anitsal, I., Anitsal, M. M., & Girard, T. (2013). Retail mission statements: Top 100 global retailers. Academy of Strategic Management Journal, 12(1), 1.
- Anitsal, M. M., Anitsal, I., & Girard, T. (2012). The core of retail mission statements: top 100 US retailers. Academy of Strategic Management Journal, 11(1), 131.
- Comparably (2023) Macy’s Mission, Vision & Values’ https://www.comparably.com/companies/macys/mission
- ‘ Visionary Team (2023) What is Macy’s Mission Statement, Vision Statement & Core Values?’ https://visionarybusinessperson.com/macys-mission-statement/
- About: Macy’s, Inc. (M) 2023 https://www.macysinc.com/about
- The Vision Statement of Macy’s, Essay 48 (2020) https://www.essay48.com/12710-Macys-Mission-Vision
- Macy’s Inc (2019) ‘Macy’s Latest Collaborations and Technology Enhancements Are Set to Bring New Consumer Experiences to Its Best-in-Class App and In-Store’ https://www.macysinc.com/_assets/_2665f013981ef94a01abc5593c6c812a/macysinc/news/2019-03-04_Macy_s_Latest_Collaborations_and_Technology_1549.pdf
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