After closing 16 of its 36 Story (New York) locations, Macy’s (Cincinnati) most recent attempt at incorporating an experiential retail concept in store, the department store retailer has turned its sights and efforts to a new format.
The first Market by Macy’s opened in Southlake, Texas, and is set at 20,000 square-feet in contrast with the brand’s typical 100,000-square-foot-plus Macy’s store.
The format offers a smaller selection of brands (about 120) which are specifically chosen to represent the locality of the area.
The Founder of Story and Macy’s Chief Brand Experience Officer Rachel Shechtman told Glossy, “The purpose of the format is three things: discovery, community and convenience. Physical spaces need to provide a value that you can’t get from your couch.”
Macy’s plans to open five Market by Macy’s this year, all in suburban areas.