Macy's is learning from the opportunities it missed during the pandemic. According to CEO Jeff Gennette, in recent months Macy's customers were looking for products that the retailer had largely overlooked, items such as pet care products and gourmet food. The department store retailers is planning to expand into new categories to attract new customers – and to entice old customers back into stores. Depending on the execution of this plan, an expansion of categories could put Macy's into much more direct competition with the likes of Walmart and Target.
“Customers have signaled for us where we’ve failed [in] searches,” Chief Executive Jeff Gennette said during an earnings conference call.