How Macy’s is planning for the holidays amid potential shopper pullback

Macy’s is leaning into its identity as a destination with something for everyone—regardless of the size of their wallet—this holiday season. Amid intensifying talk of a recession and shopper pullback, the storied department store chain is highlighting what makes Macy’s special for consumers.

The overall holiday campaign “Give Love. Give Style.” includes a series of videos that will run on TV, online video and on social. In one spot, a woman has a strange but eventually happy reaction to a jewelry gift from her husband. Another spot showcases Macy’s new Toys 'R' Us shop-in-shops, which have now been rolled out to all Macy’s stores in time for the holiday season.

“We are closely monitoring the macroeconomic impacts on consumer behavior and what that means for our business,” said Rich Lennox, chief brand officer at Macy’s. He added that the chain offers “a wide range of gifts at all price points.” Macy’s also has a guide finder guide in stores and online that lets shoppers search by price, for example.

Earlier this year, Macy’s debuted its “Own Your Style” brand platform. Consumers can receive data-driven personal style recommendations online, get tips, how-tos and hacks, and also utilize a live shopping option. The new holiday push continues the platform, Lennox said.

“The holiday campaign builds on our brand platform,” he said. “Just like personal style, the way families celebrate the holidays is unique."

Macy’s worked with BBDO and Major Behavior Advertising on the campaign. The retailer also expects to include a virtual element in its marketing.

“We are excited to drive innovation with metaverse activations,” Lennox noted, specifying Macy’s appearance in “new and innovative spaces” that will highlight the brand’s capabilities.

Related: See brands' metaverse activations

Macy’s reported second-quarter net sales of $5.6 billion, down slightly from $5.65 billion in the year-earlier period. Second-quarter net income fell to $275 million, down from $345 million a year earlier.  Although earnings topped analyst expectations, the company cut its forecast for the year in August, noting an expected pullback on some consumer discretionary purchases.