613. Dying Is Easy. Retail Is Hard.

2024/11/28

Freakonomics Radio

Will Koss: 梅西感恩节大游行之所以受欢迎，是因为其悠久的传统和独特的魅力，它已成为人们共同回忆的时刻。 Tony Spring: 梅西百货不仅是一家零售商，更是一个庆祝人生重要时刻的品牌，它希望在商业上取得成功，同时也能为社会贡献价值。他认为梅西百货的股票被低估，公司正在努力改善客户体验，这使得它成为一个有吸引力的投资标的。梅西百货感恩节大游行是其宝贵的资产，它将平凡转化为非凡，提升了品牌形象。“大胆新篇章”战略包括加强品牌建设，精简门店，改进商品种类，以及提升客户体验。一家糟糕的商店通常存在设施老化、商品陈旧、品牌缺乏吸引力以及员工服务不佳等问题。梅西百货面临的最大威胁是品牌直接面向消费者销售，以及供应商选择其他分销渠道。 Mark Cohen: 梅西百货面临巨大的挑战，需要在未来几年内扭转局面，才能保持竞争力。零售业的核心问题在于顾客的需求始终存在，关键在于能否适应顾客购物方式的变化。企业的成功往往会导致自满和傲慢，最终导致失败。梅西百货目前缺乏明确的品牌定位，这使其难以在竞争激烈的市场中脱颖而出。梅西百货过去几十年犯下的一些错误，包括低效的运营、盲目收购竞争对手以及未能适应市场变化等。梅西百货过去对供应商采取不公平的商业行为，导致一些品牌选择与之合作。梅西百货感恩节大游行虽然价值巨大，但其价值取决于是否有买家愿意为其支付高价。梅西百货的“大胆新篇章”战略缺乏具体内容，并且过早地宣传，这可能会导致不切实际的期望。梅西百货需要先改善门店的状况，再考虑商品的丰富度。 Jeff Kinney: 他开书店的主要目的是为了改善小镇的面貌，而非为了盈利。An Unlikely Story 书店虽然不盈利，但它在当地文化和旅游方面发挥了重要作用。他致力于改造小镇中心，是为了造福后代，而非个人利益。 Will Koss: 梅西感恩节大游行的成功在于其悠久的传统和独特的魅力，它已成为人们共同回忆的时刻。 Tony Spring: 梅西百货不仅是一家零售商，更是一个庆祝人生重要时刻的品牌，它希望在商业上取得成功，同时也能为社会贡献价值。他认为梅西百货的股票被低估，公司正在努力改善客户体验，这使得它成为一个有吸引力的投资标的。梅西百货感恩节大游行是其宝贵的资产，它将平凡转化为非凡，提升了品牌形象。“大胆新篇章”战略包括加强品牌建设，精简门店，改进商品种类，以及提升客户体验。一家糟糕的商店通常存在设施老化、商品陈旧、品牌缺乏吸引力以及员工服务不佳等问题。梅西百货面临的最大威胁是品牌直接面向消费者销售，以及供应商选择其他分销渠道。 Mark Cohen: 梅西百货面临巨大的挑战，需要在未来几年内扭转局面，才能保持竞争力。零售业的核心问题在于顾客的需求始终存在，关键在于能否适应顾客购物方式的变化。企业的成功往往会导致自满和傲慢，最终导致失败。梅西百货目前缺乏明确的品牌定位，这使其难以在竞争激烈的市场中脱颖而出。梅西百货过去几十年犯下的一些错误，包括低效的运营、盲目收购竞争对手以及未能适应市场变化等。梅西百货过去对供应商采取不公平的商业行为，导致一些品牌选择与之合作。梅西百货感恩节大游行虽然价值巨大，但其价值取决于是否有买家愿意为其支付高价。梅西百货的“大胆新篇章”战略缺乏具体内容，并且过早地宣传，这可能会导致不切实际的期望。梅西百货需要先改善门店的状况，再考虑商品的丰富度。 Jeff Kinney: 他开书店的主要目的是为了改善小镇的面貌，而非为了盈利。An Unlikely Story 书店虽然不盈利，但它在当地文化和旅游方面发挥了重要作用。他致力于改造小镇中心，是为了造福后代，而非个人利益。

Deep Dive

Key Insights

Why is the Macy's Thanksgiving Day Parade so popular?

Tradition is at the core. It's a giant spectacle that shows up annually, combining spectacle, kitsch, and art, becoming a moment in time for people to drive back to.

How much is Macy's Inc. worth?

Macy's Inc. is worth a bit more than $4 billion.

What is the estimated value of Macy's real estate portfolio?

Macy's real estate is thought to be worth roughly double its $4 billion stock market value, estimated between $7 and $11 billion.

What is Tony Spring's strategy for Macy's turnaround?

The strategy, called 'a bold new chapter,' includes strengthening the Macy's brand, divesting about 150 stores, investing in merchandise assortment improvements, better store conditions, embracing different store formats, and taking cost out of the business through automation.

What are some brands that have pulled out of Macy's in recent years?

Nike is one brand that took an 18-month break from Macy's.

What are some brands Tony Spring would like to have at Macy's?

Tony Spring would like to have Tory Burch and On Running at Macy's.

What does Mark Cohen think about Macy's current state?

Mark Cohen believes Macy's doesn't stand for anything today and has been guilty of sloganeering for over a decade. He thinks Macy's has been unsuccessful in creating a point of view that differentiates itself from competition.

What is Jeff Kinney's vision for Plainville, Massachusetts?

Jeff Kinney aims to redevelop the downtown center of Plainville, creating a vibrant space with a bookstore, anchor restaurant, beer garden, Airbnb, and possibly other buildings, investing between $17 million and $35 million.

Why did Jeff Kinney open An Unlikely Story bookstore?

Jeff Kinney opened the bookstore to create a building the town could feel proud of, replacing an abandoned market that had been derelict for 17 years.

What does Jeff Kinney think about the future of independent bookstores?

Jeff Kinney believes people are craving a feeling of connectedness and that bookstores offer a unique, irreplaceable experience that can't be replicated online.

Chapters

The Macy's Thanksgiving Day Parade is a beloved tradition, but its economic impact on Macy's is complex. The parade is both a significant expense and a valuable marketing tool.

The parade is Macy's annual gift to the nation, but it's also a profitable venture.
Macy's has been in financial trouble for years, and the parade is one of its most valuable assets.

Shownotes Transcript

Macy’s wants to recapture its glorious past. The author of the *Wimpy Kid *books wants to rebuild his dilapidated hometown. We just want to listen in. (Part two of a two-part series).)

SOURCES:
Mark Cohen), former professor and director of retail studies at Columbia Business School.
Will Coss), vice president and executive producer of Macy’s Studios.
Jeff Kinney), author, cartoonist, and owner of An Unlikely Story Bookstore and Café.
Tony Spring), chairman and C.E.O. of Macy’s Inc.
RESOURCES:
"Macy’s Discovers Employee Hid Millions in Delivery Expenses)," by Jordyn Holman and Danielle Kaye (*The New York Times, *2024).
"NBC Ready to Pay Triple to Gobble Up Thanksgiving Parade Broadcast Rights)," by Joe Flint (*The Wall Street Journal, *2024).
"How Macy’s Set Out to Conquer the Department Store Business — and Lost)," by Daphne Howland (*Retail Dive, *2022).
An Unlikely Story Bookstore and Café).
EXTRA:
"Can the Macy's Parade Save Macy's?)" series by *Freakonomics Radio *(2024).

613. Dying Is Easy. Retail Is Hard. 01:01:34 Share