Dive Brief:
- Alongside other major retailers hosting promotions this month, Macy’s has launched its first “All-Star Week” sales event with extra points for its loyalty members, the department store announced Wednesday.
- From July 16 to July 23, loyalty members earn 10 times the reward points on purchases of select brands, such as Levi’s, Dolce & Gabbana and I.N.C., and three times the points on select purchases of shoes, beauty products, bed and bath, activewear and handbags. Members could earn $20 of “Star Money” when they buy from three or more of those five categories.
- Customers who open a store card during the sale will get an extra 30% off, up to $100, during the first two days of the event when they use the card. The sale is part of Macy’s “Summer’s Greatest Hits” campaign launched last month, showcasing various special events and deals.
Dive Insight:
Macy’s joins other major retailers, including Best Buy, Target and Walmart, in offering sales this summer — widely seen as jostling for attention during Amazon’s Prime Day sale from July 16 to July 17.
Unlike Prime Day, other retailers’ discounts will be available to shoppers without subscriptions, but many are sweetening the pot for loyalty members.
Macy’s rewards program offers four tiers: bronze, silver, gold and platinum, per the retailer’s website . Members earn between two and five points per dollar and may get perks like free shipping depending on the membership tier, which is based on how much they spend annually using a Macy’s store card.
“Star Rewards features some of the best loyalty benefits and experiences in retail and during this special member-only event, we are showcasing thousands of exclusive savings for our best customers,” Max Magni, chief customer and digital officer at Macy’s, Inc., said in a statement. “Whether they are entertaining for a backyard barbeque or buying back-to-school essentials, we have great deals this summer, and several ways to earn more rewards.”
Macy’s summer sales event follows the company’s decision to downsize its brick-and-mortar presence. Earlier this year, the company said it plans to shutter 150 Macy’s stores over the next three years, though it will open 15 Bloomingdale’s stores, 30 Bluemercury stores and 30 off-mall, small format Macy’s locations.
Meanwhile, investment firm Arkhouse Management and global asset manager Brigade Capital Management have reportedly increased their takeover bid, according to a July 3 article in The Wall Street Journal. The company has not confirmed this to Retail Dive; so far Macy’s has acknowledged that a $6.6 billion bid is on the table.
