Is ‘Story’ as Innovative as Macy’s Thinks It Is?

 

 

 

For the last decade, Macy’s has been working in fits and starts at reinventing itself, and most recently this includes buying a stake in Story, the wildly successful New York specialty store founded by Rachel Shechtman.

 

Shechtman’s concept was launched in 2011 as a 2,000-square foot serial pop-up store in New York’s Chelsea, It was instantly considered groundbreaking for its fanciful themes that were perfect for the Instagram generation.

 

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We always wonder what drives retailers to co-opt another brand’s mojo rather than do it themselves. After all, shouldn’t Macy’s already know how to execute what Story is doing?

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Story boutiques can currently be found in 36 Macy’s stores nationwide. The pop-ups will evolve the look and product assortment to reflect a designated theme, with the first being, “color.”

 

Macy’s – and many others – took note: “Discovery.”  “Narrative-driven”. “Retail as entertainment.”

 

Sometimes, it takes a startup to state the obvious.

 

Now Shechtman is Macy’s “chief experience officer” and her concept has been added to 36 Macy’s stores nationwide.

 

We always wonder what drives retailers to co-opt another brand’s mojo rather than do it themselves.  After all, shouldn’t Macy’s already know how to execute what Story is doing? Apparently not.

 

 

 

 

At the Macy’s in San Francisco, building renovations forced the Story concept into a tiny corner behind cosmetics. Products demonstrate how the color story frames the meaning behind the assortment.

Let’s review some retail fundamentals, ones Macy’s should know by heart:

 

• Build a seasonal marketing calendar tied to current vendor assortments and Open-To-Buys. Make sure merchants are committing to relevant buys that bring newness and support the brand’s point of view.

• Add in high-impact, on-trend editorial stories that include bold content, strong visuals and signifiers, which further underscore –

• The products and services that demonstrate those stories and entice and excite consumers.

• Include sub-themes and stories that can act as bread crumbs into other product categories and departments, leading the consumer throughout the brand’s point of view and offer.

 

Telling a compelling story is what makes any retailer relevant and enticing. It’s not about window-dressing. It’s about having a point of view that is palpable throughout the store, and across all of the brand’s touchpoints.

 

 

 

The rule of thumb with in-store signage is: keep it simple. Most people don’t read, no matter how cute your copy is. In this case, visuals got a little carried away.

Unfortunately, that’s what Macy’s has been challenged with for decades now. It’s why stores feel so disconnected; more warehouse than an actual brand. In-store staff typically know nothing about what they sell. Displays are largely provided by the vendors. Assortments seldom demonstrate a quality criteria.

 

So while Story might generate a bit of excitement, it’s not going to move the needle to the degree needed to generate a fresh impression of the brand.

 

But incrementally, and provided they invest in a long-term, strategic reset of the entire customer journey, Macy’s can bring vitality to its DNA if they emphasize retailing experiences as much as products.

 

It’s a story waiting to happen.

 

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