Macy's Eases Shopping, Introduces Omnichannel Strategies - Analyst Blog

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In line with its omnichannel initiatives, Macy's, Inc. ( M ) recently announced new additions to its attractive technology-driven strategies. Shares have climbed 1.1% since the announcement.

The company introduced various innovative services including Apple Pay, Same Day Delivery, Buy Online Pickup in Store (BOPS) Rollout Completed, Enhanced Shopping Apps, Innovation in Stores Selling Technology, Macy's Image Search, Macy's Wallet/Bloomingdale's Wallet:, Shopkick, Smart Fitting Rooms, Macy's Digital Editions, RFID Yielding Results and Expanding and Bloomingdale's Tabletop Builder.

The Apple Pay service, slated for launch in October, is a mobile payment system whose availability will commence this fall. This system will be supported by Apple Inc.'s ( AAPL ) latest iPhone 6 and iPhone 6 Plus devices, and its Apple Watch. Bloomingdale's and Macy's will be among the first retailers to support this feature and facilitate convenient, private and secure customer payment.

Same Day Delivery, which is also scheduled to start this fall, will facilitate products purchased on the company's websites to be delivered on the same day of purchase. Also, the company is coming up with various selling techniques in certain stores in Georgia and New Jersey, like improved handheld point-of-sale devices and tablets, which are expected to enhance in-store shopping experience.

Further, Macy's and Bloomingdale's have initiated mobile shopping apps for Android and iOS, for example the Macy's Image Search where the user can search any product on macys.com, by uploading a photo.

Likewise, the other aforementioned introductions feature various specialties, which are likely to enhance customer convenience by enriching their shopping experience.

Macy's premier chains-Bloomingdale's and Macy's-are two well recognized names in the department store industry. For Macy's, My Macy's localization initiatives, omnichannel integration and magic selling have always remained driving factors. Going forward, this customer-oriented retailer intends to maintain its focus on making innovations and growing in the omni channel world.

Macy's currently carries a Zacks Rank #3 (Hold). Other better-ranked retail stocks include Citi Trends, Inc. ( CTRN ) with a Zacks Rank #1 (Strong Buy) and J. C. Penney Company, Inc. ( JCP ) with a Zacks Rank #2 (Buy).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Business , Stocks
Referenced Symbols: AAPL , M , JCP , CTRN

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