During the National Retail Federation’s Big Show last week, Forbes spoke with a cross section of Retail CEOs (and one president) at the conventions’ annual evening soirees.
Here’s what’s in store for Macy’s, Bloomingdale's, The Container Store,
Macy’s CEO Terry Lundgren
In 2015, what’s significant for all retailers is that the economy is getting better and the reduction in gas prices could potentially free up $50 billion to $70 billion in disposable income that consumers would have otherwise spent on gas, Terry Lundgren, CEO of Macy’s, told Forbes during a press event celebrating the 5th anniversary of the Artisans for Macy’s Heart of Haiti merchandise program.
Lundgren was referencing former Federal Reserve chairman Ben Bernanke’s comments during a presentation at the NRF show.
Growth this year for Macy’s, in particular, will come from its buy-online, ship-to-store program, “which is growing like gangbusters,” as well as its same-day-delivery service, he said. The retailer started testing same-day-delivery in November and will expand it to more markets this year.
The Container Store CEO Kip Tindell
“We have three gigantic initiatives” this year, said Kip Tindell, CEO of the Container Store, during The NRF’s press reception at the Metropolitan Club.
These include the storage and organization chain’s Pop! Perfectly Organized Perks free loyalty program, which rewards shoppers not only with discounts and perks like free
The loyalty program has been a traffic driver for the Container Store as its members generally shop more than twice as frequently, he said.
The retailer is also rolling out TCS Closets, its luxury closet line, to all 68 stores this year after piloting it in seven stores in the Dallas and Forth Worth area in the fall.
The custom-built closet line comes in six exclusive finishes and includes options like glass or solid doors, upscale hardware and soft lighting, and is geared toward a “slightly more affluent and older customer,” he said.
What’s more, the retailer this month expanded its Contained Home personalized design and organization service to more shoppers in the New York tri-state area. The retailer’s in-home consultations start at $75 with services ranging from organizing all areas of the home and maintaining the spaces through regular visits to preparing a baby’s nursery.
Bloomingdale’s CEO Tony Spring
“We’re looking for how to surprise and constantly excite shoppers with marketing and merchandising” to live up to Bloomingdale’s tagline, “like no other store in the world,” Tony Spring, CEO, told Forbes at a reception held by investment firm Financo.
In a bid to “avoid the sea of sameness” at retail, expect more “unexpected events and more exclusive products,” such as the department store’s partnership with the National Basketball Association.
Bloomingdales’ is feting the NBA’s 64th All-Star Game with 16 basketball-inspired shops filled with NBA team and All-Star merchandise and one-on-one style videos with Houston Rockets shooting guard/clothes horse James Harden, via a partnership with GQ magazine.
Harden will star in three videos inspired by “The Walk,” the style moment between the locker room and team bus for players to showcase their off-the-court, fashion flare, according to a Bloomingdale’s press release. In the videos, GQ’s executive stylist, publishing, Brett Fahlgren, chats with Harden on fashion topics ranging from how to get the NBA look to dressing for specific body types.
HSN CEO Mindy Grossman
The home shopping network will focus on mining deeper insights from its shoppers’ “behavioral data” to better understand the customer — in part by “how they’re interacting with us,” Mindy Grossman, CEO, told Forbes. The idea is to create for its consumers everything from more meaningful and targeted email offers and content to enhanced gaming platforms. (The retailer operates the HSN Arcade gaming portal on HSN.com, which it bills as a place to play and win while shopping.)
Mike Indursky, president of Bliss World, LLC
Bliss Spa is betting that the hot health and wellness lifestyle trend and store expansion will take its business to new heights. “This will be a huge year of growth for us storewide” via its own retail stores and wholesale business, said Mike Indursky, president of Bliss World, LLC.
The company currently operates 21 spas stateside and overseas and sells its spa-treatments, personal care and beauty products in over 3,000 stores in 30 countries.
