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Live From New York
By: Nancy Jeffries
Posted: June 17, 2008
page 9 of 9Henry noted, “It’s clear that technology continues to drive our company, with social networking continuing to drive our business. There has been an evolution in technology and consumers are using various shopping engines to make the most efficient use of their time.” He noted that shopping channels aren’t just a commerce platform, but also a marketing platform and have “the ability to make a product come alive.”
Murtha said emerging entrepreneurial businesses present challenges for larger retailers, citing some of the new initiatives Macy’s is adopting to keep up with market trends. Their Lifestyle stores, the first of which opened in Tampa, Florida, focus on their key businesses, including cosmetics. The stores feature an interactive environment and provide an incubation area for products. *“The demographics are constantly changing and we continue to be flexible in the environment we create for the customers on a localized basis,” said Murtha.