Macy's Is Adopting This Proven Amazon Strategy
Amazon.com (NASDAQ: AMZN) has long functioned as a website where third-party businesses can list their products for sale and benefit from the e-commerce giant's consumer reach. Amazon does not mind offering this capability because more items on its site attract more customers.
More recently, however, Macy's (NYSE: M) has adopted this strategy as well. For several years before the pandemic, the department store operator was having difficulty finding areas of growth. Shoppers were increasingly moving online, and that was harming sales for the brick-and-mortar retailer. Management shifted course and is now more intent on developing its digital sales channel, and that's where the Amazon strategy is working well for Macy's.
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Source Fool.com
