Dive Brief:
- As part of its holiday merchandising efforts, Macy’s will host its first Holiday Square at its Herald Square location in New York City, the department store announced Tuesday. The holiday market-like experience is designed by Urbanspace, which also runs some of New York City’s most well-known markets.
- Macy’s will offer the space between Nov. 1 and Jan. 3, and will showcase various products, holiday gifts and food from more than 30 local businesses. Shoppers can browse customized ornaments, jewelry, handmade stationery and candles, as well as food and beverages like hot chocolate and stroopwafels.
- Macy’s is also touting its own expanded assortment for the holidays, noting that 40% of its products will be new this year across categories and it will also have exclusive products and new brands.
Dive Insight:
With the holiday season around the corner, Macy’s is investing in in-person festive shopping experiences. In addition to debuting its new Holiday Square, the department store will also take part in The Holiday Shops at Bryant Park on Oct. 25, where consumers can find Macy’s Thanksgiving Day Parade merchandise, cashmere products, fragrances and other items. On Dec. 6 through Jan. 3, an Urbanspace Herald Holiday Market will open outside of Macy’s flagship.
The retailer will also offer its usual Santaland experience at select stores, Macy’s Thanksgiving Day Parade, holiday windows and other holiday-themed experiences at stores. Macy’s has also curated a list of 100 holiday gifts, the release said, aimed at providing gift options for everyone in the family.
“As we embrace the joy of the holiday season, Macy’s will once again be at the center of the moments that bring friends and family together. From timeless traditions to the best gifts, holidays at Macy’s are all about creating lasting memories,” Sharon Otterman, Macy’s chief marketing officer, said in a statement. “We’ll immerse our customers in engaging, inclusive experiences, both online and in-store that they’ll be inspired by, and remember, for a lifetime.”
Alongside efforts to integrate new products into its stores, Macy’s is continuing its partnership with Toys R Us, which began in 2022 when the toy retailer opened shop-in-shops within hundreds of Macy’s locations. In September, the two released Geoffrey’s Hot Toy List for 2024, containing toys from brands like Barbie, Hot Wheels, Bluey, Lego and Pokémon.
As Macy’s courts holiday customers with new products and in-person holiday experiences, the company is planning to shutter stores amid sales declines. Earlier this year, the company said it would close 150 underperforming stores over the next three years. In August, the retailer reported $4.9 billion in Q2 net sales, down 3.8% year over year, with overall comps down 3.3%.
