Macy's Launches a Digital Fashion Platform
Macy's has launched an immersive digital fashion hub. I really have no idea how this will help it sell more product. The initiative is almost sounds worse when you break it down word by word.
Macy's.
Launched. Immersive. Digital. Fashion. Hub.
Macy's.
What is even happening here? Macy's new CEO Tony Spring spent his career at Bloomingdale's in the fashion world. Now we are trying to launch a new private label brand in a digital realm?
A few details:
* Macy's isn't saying much, and it only promises that you can evolve your digital fabric over time and share it with friends on "select social channels."
* It's partnering with a metaverse infrastructure company Journee to create the experience.
* Just the core value prop is not very well articulated. You create this virtual item, using a Macy's account (eyeroll) and share it to other people who might care about it. Sounds like NFTs all over again.
So. many. questions.
* Wouldn't Macy's have been better served just to partner directly with TikTok on something? Or perhaps with Snap Augmented Reality? Or Roblox?
* Zuck and Meta, with unlimited budget, is not able to get people to care about the metaverse, but somehow Macy's will with more or less off-price margins?
I understand this is a partnership, but if you are looking to sell some private label clothes, let's try and sell them the old fashioned way?
* What about Shein?
The younger demographic (which seemingly this would appeal to) is addicted to fast-fashion. Macy's introducing one style every two years is hopelessly outdated. Shein looks virtually unstoppable at the moment, how about partnering with them? A lot of ABG/Sparc brands are in Macy's already.
