Pricing strategy and target market
Business model and Competitive advantages
Price match policy
Departmental stores like Macy’s have developed as preferred shopping destinations for buyers since they offer discounts and sales. Among the various discounts, sales, and pricing policies they provide a price matching policy which is one of the most attractive to buyers. As per the price matching policy, one can get products or services from retailers at the minimum market price.
Macy’s does not offer price matches with its competitors but, the retailer has a price adjustment policy to attract its customers, under which Macy’s adjusts as per the changes in store prices. If the price of any purchased product declines within 10 days after purchasing, customers can get back the difference between the earlier price and the current price. But, this adjustment policy is only valid when prices fluctuate within 10 of purchasing.
Conclusion
What is Macy’s?
Macy’s is an American departmental stores chain, that was founded by Rowland Hussey Macy in 1858 in New York, the U.S. In preceding years, Macy’s was the largest U.S. department store company by retail sales.
