Thanks, Barry Ritholtz
Consider! If we listen to the Fake President we might do as well over the next 20 years as Japan did over the last 20.
❝ It has been a very bad week for some of the country’s biggest department stores, with Macy’s feeling the brunt of it. The mass-market retailer’s stock has dropped 16 percent since it announced disappointing holiday sales results and details on thousands of job cuts on Jan. 4.
Macy’s has said that it has too many stores, in too many underperforming locations. It’s closing 100, and no one should be surprised if that number grows in future years.
❝ Macy’s has also blamed what it calls “changing customer behavior.” That’s code for the rise of Amazon.com and the adoption of e-commerce shopping in general. It’s also the idea that a new generation is spending more money on experiences over physical goods.
But while Amazon has certainly had a hand in Macy’s struggles — and we’ll get back to this in a bit — Macy’s should look within, first, for the cause of its current predicament. Because if not Amazon, someone else would have come along and taken advantage of the complacency that’s been on display inside Macy’s over the last decade.
❝ For starters, a trip into Macy’s this holiday season felt like a visit to a teenager’s bedroom: In its Paramus, N.J., store, items were strewn everywhere and no useful answers were to be had.
Even in a neat Macy’s, the selection of merchandise has left a lot to be desired — namely because there doesn’t appear to be much stuff that you can’t find elsewhere.
Prior to the rise of e-commerce, Macy’s could get away with some of this. But you can now buy the same stuff in lots of places — whether from Amazon or a brand’s own website. Comparing prices has gotten infinitely easier, too.
❝ The bottom line, however, is that Macy’s stores, by and large, have looked and felt the same forever. And in digital, Macy’s has long been on the defensive.
Now, take this object lesson and show it to someone in the “leadership” of the Democratic Party.
With the exception of Obama’s presidential campaigns pretty much everything that party has offered around the country for decades felt like 1984. With the addition of candidates whose main qualification was “they’ve been waiting long enough for a chance”. Not just presidential candidates; but, everything down the ballot to governors and state representatives.
Losing a few here and there was akin to simply missing your turn. We’ll try, again, later on. Little or no thought of changing times inside Macy’s or Democrat politics. Macy can blame Amazon and the Republicans will claim superior strategy. Both are about intellectual laziness and ennui.