It's no secret that brick and mortar retailers are having a hard time competing with online shopping, which is why companies are looking for new and innovative ways to drive foot traffic.
Macy's, which is known for its mall locations, rolled out a new concept in hopes of doing just that. On Thursday, 'Market By Macy's' opened right in the middle of Southlake Town Square.
“The Market is all about a social shopping space that celebrates community, discovery and convenience," said Rachel Shechtman, Macy’s brand experience officer.
She said they believe Southlake is a great location to test out the new format, which is shopping and socializing
The Market has a cafe and bar, called 'Herald.' People can grab a bite to eat, coffee and even an alcoholic beverage.
The space will also serve as a place to host parties and events like cooking classes, book clubs, crafting and fitness classes.
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“What we’re doing on the brand experience side of things, we’re all about test, learn and innovate and this new concept is exactly that," said Shechtman Like. "It’s new, it’s never been done before! So there’s lots of testing happening right where we're trying different things."
The 20,000 square foot store has brands like Tommy Hilfiger, Polo Ralph Lauren, and Aflani, that people could find at a regular Macy's stores. The twist is, The Market will feature local designers and products like Austin-Based Texas Standard, B. Stellar Jewelry, Fitish and Oak Cliff Coffee.
The store also has a exclusive beauty shop called Getchell's Apothecary, which is named after the first female executive in retail, Margaret Getchell who worked in Macy's in 1860.
The retailer plans to open another Market by Macy's in Fort Worth sometime in the future.
Market at Macy's grand opening comes after Macy's announced earlier this week that it will be closing 125 mall stores and will eliminate about 2,000 jobs.
It's a headline that continues to occur for many retailers in the age of online shopping.
“I think that the experts would say we’re in the midst of a retail apocalypse right now," said Traci Freling, an associate professor of marketing at the University of Texas at Arlington. “People aren’t going to the malls with the same regularity as they once did shopping online, so the big anchor stores are really suffering.”
She believes stores will have to adapt to the market and change the way they approach at grabbing consumers attention.
“I think they have to offer something unique , right? They have to distinguish themselves in some way that will pull people back into the stores , so maybe this new boutique format is exactly what will fix things for Macy's," said Freling. "I think that you will see the big box retailers focusing on online and trying to come up with interesting concepts like Market by Macy's that will draw people back into the stores other than shopping online."