In today's buying environment, I think customers have a
certain style that they want to express about themselves. And our job as Macy's
is to bring them the pieces and parts of their wardrobe or their potential
wardrobe to help them own that style.
Macy's was looking at the demands of the customer and really
saying, how do we meet them, in a variety of different ways.
Macy's is a 160 year old company, and to be able to come in
and build upon that heritage with a new digital e-commerce model is a really
As the retail industry changes, Macy’s is changing with it. The
company turned to J.P. Morgan to enhance its digital Marketplace, which makes
it easier for shoppers to find new products and Brands.
We can respond to market trends in a different way and we
didn't have to have the investment in the inventory to do so.
Being a curated marketplace, our strategy is first and
foremost rooted in a close partnership with our merchants. …and J.P. Morgan was
there to help us with that.
I've always wanted to be an entrepreneur. I come from a
family of entrepreneurs and so for me it was always just about, you know,
what's the big idea?
We make beautiful clothing for vibrant women with
Being on Macy's Marketplace has enabled us to share our product and our brand with a whole new audience.
It's a really special feeling to be a small bootstrap female owned business...and have the support of a company as iconic as Macy's. It gives me a vote of confidence.
A seller on a marketplace platform is looking for a seamless, easy and fast way to get paid. We're not waiting for cash to come into our business to be able to execute a new marketing strategy or to order more inventory.
So, it really allows us to develop and grow our business at a speed that we wouldn't be able to otherwise.
Macy’s needed an integrated payout solution capable of handling the relationship between an enterprise business and smaller third party sellers.
With J.P. Morgan Concourse, Macy’s can send secure payments while keeping seller information private.
The marketplace money transmitter laws are very complex. And there's state by state nuances that you have to pay attention to.
Bringing in an expert like J.P. Morgan to manage those was absolutely the right decision for us. We grew our business by 50% on the marketplace from Q4 to Q1, which is really something exciting and that not a lot of people get to do in the retail environment.
Since launching, Macy’s and J.P. Morgan have helped over 900 brands like Alala, reach new customers and receive secure, and seamless payments.
On the heels of this success, Macy’s has set the tone for its next chapter—and maybe even its next century—in the retail space.
Being part of Macy's marketplace, we have access to so many more women than we could on our own.
And so to really get that exposure through Macy’s is really priceless.
That is what really keeps me going. It's that joy that we can bring into these women's lives through such a small thing as a new piece of clothing. I think in the future it's gonna be about how do we customize that website experience for every single customer that comes to our site.
J.P. Morgan has been a really great partner from the beginning to think through the best way that we can show up for our sellers.
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