Macy’s is feeling the pressure to revamp its processes in an effort to quell its rapid decline. That may be why they’ve recently announced they plan to expand their “open sell” concept; a test of which started about a year ago at the retailer’s smaller stores, and will now be implemented in their medium-sized locations.
As a business, there is a very fine line between going above and beyond for your customers and opening yourself up to being taken advantage of. It’s a natural part of the business: life is expensive, consumers live in a consumer-driven world where getting the most bang for their buck is top priority. That being said, worrying about your bottom line makes you a bad business-owner.
According to Euromonitor, the global lingerie market was worth just over $110 billion in 2014. And while the underwear industry is as successful as ever, it seems to be undergoing a renaissance. Consumers are beginning to rebel against the stereotypically sexy bombshell aesthetic that mega-retailers like Victoria’s Secret have had cornered for decades.