Placer.ai: Macy’s could be comeback story of year

Things appear to be looking up at Macy’s.

A new report from foot traffic analytics firm Placer.ai found that the department store company is seeing a clear and sustained recovery in visits during the early months of 2021. Analyzing weekly visits in 2021 compared to the equivalent weeks in 2019 (massive year-over-year growth only shows the depths of the closures as opposed to an actual recovery) demonstrates an obvious upward trend, according to the report.

“Looking at Macy’s visits overall shows a clear recovery trend,” said Ethan Chernofsky, VP of marketing, Placer.ai. 

The report also applauded Macy’s ongoing expansion in the off-price channel. (The retailer plans to open 45 in-store Backstage departments this year and also to resume opening freestanding Backstage locations.). It noted that the initiative make sense not just as a standalone effort, but as part of a wider and more strategic approach to leverage different assets “to create a tide that lifts all Macy’s boats.”

“Considering the continued weight and reach of traditional Macy’s locations, the push to enhance this channel with an off-price element appears a winning approach,” Chernofsky stated.