DECEMBER 1, 2021|RETAIL & ECOMMERCE
How Macy's And Other Retailers Are Selling Ads To Save Their Business
The often-predicted retail apocalypse certainly seemed to get more likely for many large retailers over the past year. Macy's alone shuttered 45 stores in 2021 and needed a $4.5B loan to escape bankruptcy.
Yet it is one of the retailers who is turning to online advertising as a potential new source of significant revenue. Macy's ad network is pulling in “tens of millions of dollars” from brands such as Harry’s, Estée Lauder, and Ralph Lauren eager to leverage Macy's store network and online properties. The initiative is one that several other retailers including Walmart, Target, CVS, Lowe’s, and Albertsons are also trying.
If it works, this may not only offer a much needed new infusion of revenue into these brands, but also create a valuable new alternative for brands to spend some of their online advertising budgets instead of pushing it entirely to platforms like Facebook and Google.
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How It All Started
A Short Backstory Of This Blog
This is a blog about non-obvious ideas. Originally launched on the Typepad platform in 2005 as the Influential Marketing blog, the stories at first focused mainly on digital marketing while Rohit worked at Ogilvy Advertising. In 2015 Rohit officially rebranded to the Non-Obvious Insights Blog and published his WSJ bestseller Non-Obvious. For the past twenty one years, this blog has coined new terms, introduced future marketing practices and inspired the next generation of non-obvious thinkers and marketers.
