In this comprehensive interview, Macy's VP of Innovation, Parinda Muley, discusses how a heritage retailer is strategically embracing innovation through diverse initiatives like ThredUp for resale, Market @ Macy's for curated marketplaces, and B8ta for D2C brand engagement. This episode provides actionable insights into fostering innovation within a large organization and adapting to evolving consumer behaviors to redefine the retail experience.
Key takeaways
Resale partnerships like ThredUp can extend product lifecycles and attract new customer segments.
Curated marketplaces (Market @ Macy's) offer a strategy to diversify product offerings and introduce external brands within an existing retail footprint.
Experimenting with 'retail-as-a-service' models, such as B8ta, allows for dynamic product discovery and a platform for D2C brands to gain physical presence.
Experiential retail concepts, like Story, provide unique, rotating experiences that drive foot traffic and customer engagement beyond traditional transactions.
Fostering a culture of innovation within established organizations requires dedicated leadership and a willingness to integrate new technologies and business models.
EP192 - Macy's VP of Innovation Parinda Muley Parinda Muley (@parinda), the VP of Innovation and Business Development at Macy's. In this broad-ranging interview, we discuss a number of Macy's innovation initiatives including ThredUp, Macy's Market @ Macy's, B8ta, Story, and Style Crew. We also talk about the strategies for fostering innovation, and how retail innovation is likely to evolve in the future. Don't forget to like our facebook page, and if you enjoyed this episode please write us a review on itunes. Episode 192 of the Jason & Scot show was recorded on Wednesday, August 21st, 2019. live from the eTail East trade show in Boston, MA. http://jasonandscot.com Join your hosts Jason "Retailgeek" Goldberg, Chief Commerce Strategy Officer at Publicis, and Scot Wingo, CEO of GetSpiffy and Co-Founder of ChannelAdvisor as they discuss the latest news and trends in the world of e-commerce and digital shopper marketing.
What does this episode say about retail & omnichannel?
Resale partnerships like ThredUp can extend product lifecycles and attract new customer segments.
What does this episode say about brand & content?
Curated marketplaces (Market @ Macy's) offer a strategy to diversify product offerings and introduce external brands within an existing retail footprint.
What does this episode say about dtc strategy?
Experimenting with 'retail-as-a-service' models, such as B8ta, allows for dynamic product discovery and a platform for D2C brands to gain physical presence.
What does this episode say about ai & automation?
Experiential retail concepts, like Story, provide unique, rotating experiences that drive foot traffic and customer engagement beyond traditional transactions.
What does this episode say about retail & omnichannel?
Fostering a culture of innovation within established organizations requires dedicated leadership and a willingness to integrate new technologies and business models.
