Macy’s is an American departmental stores chain, it was established by founder Rowland Hussey Macy in 1858 in New York, U.S. Macy’s has the vision to operate Macy’s brand as a dynamic national brand through an acute focus on customer offerings in all store locations, also has a tagline “The magic of Macy’s” has been fascinating the world. Whereas Amazon is an American technology MNC that works digitally, it was initiated in 1994. Amazon focuses on a slogan to become the most client-focused company on earth, the safest company to work for, and the finest employer. “Price” is an amount of currency paid by the customer to the vendor in return for goods or services. As of 2022, Macy’s does not offer a price match policy for Amazon or any other retail store. Let us know more detail about ‘Does Macy’s Price Match Amazon?’.
Does Macy’s Price Match Amazon?
Macy’s is a well-known retailer with 725 stores in the USA. On the other hand, Amazon is known for its digital presence as a leading digital retailer that retails almost everything one can imagine probability. Both Macy’s and Amazon offer similar product ranges such as apparel, home textiles & decor, housewares, cosmetics, skin & hair care, gifts, jewelry, footwear, activewear, baby items, kitchen items, electronics, handbags, accessories, etc.Both Macy’s and Amazon have different pricing strategies based on their respective business model and target market. Macy’s is one of the stores where a price matching policy is not facilitated, but Macy’s provides a price adjustment policy as an alternative for price matching.
Pricing strategy and target market
Pricing strategy is the most important component for the formulation of business development and marketing strategy. Pricing strategy can be effectively identified by assessing the company’s pricing position, segmentation, and capabilities. Both Macy’s and Amazon have approximately the same target market from the age group of 18 to 45 could be male or female, students, employees, and professionals, mostly married and from the middle class. The only dissimilarity is that Amazon targets people with smart devices or laptops because of its digital services.
Business model and Competitive advantages
The business model of Macy’s consists of procuring high-quality goods from different suppliers and reselling the merchandise through their store chain, by offering a range of selection of products along with an excellent shopping environment, and the finest service, Macy’s builds value for clients. Amazon’s traditional business model offers retailers to retail their articles to Amazon and Amazon resells those products online to buyers at their doorstep.
The cost-effectiveness, superior shopping experience, and high-end quality brand are the edges that Macy’s has over the competitors. Meanwhile, Amazon has a first mover advantage in the e-commerce market for its digital presence and has some prominent competitive advantages like good quality products, quick services, a range of products, and competitive prices.
Price match policy
Departmental stores like Macy’s have developed as preferred shopping destinations for buyers since they offer discounts and sales. Among the various discounts, sales, and pricing policies they provide a price matching policy which is one of the most attractive to buyers. As per the price matching policy, one can get products or services from retailers at the minimum market price.
Does Macy’s price match Amazon?
In the preceding years, Macy’s was the largest U.S. departmental store chain by retail sales. Unfortunately, Macy’s does not offer a price matching policy against any other in-store and online retailer including Amazon. But Customers nowadays have good information about prices and better ideas for different pricing strategies that brands are offering to them. And Macy’s is unable to supply their customer at the lowest competitive prices. The online big retailer can supply the market with the same product that Macy’s supplies, but at a lesser price. That’s why consumers are more interested to buy from other online licensed retailers like Amazon who cut out their overheads and that is passed on to the customers.
Macy’s does not offer price matches with its competitors but, the retailer has a price adjustment policy to attract its customers, under which Macy’s adjusts as per the changes in store prices. If the price of any purchased product declines within 10 days after purchasing, customers can get back the difference between the earlier price and the current price. But, this adjustment policy is only valid when prices fluctuate within 10 of purchasing.
Conclusion
Macy’s has some unique competitive advantages that are tough for competitors to compete. On the other hand, Amazon has a purpose to provide online customers good quality products at possible lowest rates and deliver them to their doorstep. Amazon offers quality products at considerably low prices than other resellers. Conclusively Macy’s does not offer a price match policy with any in-store or online retailer including Amazon but offers a price adjustment policy as a substitute for price matching within the 10 days of purchasing.
Frequently asked questions (FAQs)
- What is Macy’s?
Macy’s is an American departmental stores chain, that was founded by Rowland Hussey Macy in 1858 in New York, the U.S. In preceding years, Macy’s was the largest U.S. department store company by retail sales.
- What is Amazon?
Amazon is an American MNC (Multinational Company) that works digitally and it was established in 1994 in Washington, the U.S by Jeff Bezos.
- Does Macy’s price match Amazon?
As of 2022, Macy’s does not offer a price matching scheme for Amazon or any other retailer in-store or online but offers a price adjustment policy as a substitute for a price matching policy.
