Macy's 2005 Annual Report Download - page 10

page six
If Macy’s is to succeed as a fashion retailer known for
affordable luxury, our customer must understand the
value we deliver. So the company is working to make
its pricing clearer, more credible and simpler.
We want our customer to immediately recognize –
and get excited about – the great value she’s getting
in our stores.
Everyday Value
One way we’re delivering exceptional value is Macy’s
everyday low pricing program, called Everyday Value.
It was launched two years ago and has developed to
encompass an expanding portion of the assortment
in areas such as ready-to-wear, kids and soft home.
Selected items from our private brands, as well as
market brands, are included in the program. With
Everyday Value our customers don’t need to have a
coupon or wait for merchandise to go on sale.
Our second price simplification initiative is to reduce
our level of public couponing.
Coupons will not disappear from Macy’s. But we are
issuing fewer of them. Moreover, a greater proportion
of Macy’s coupons are being delivered one-on-one to
our best customers – those who have a Macy’s credit
card – to bring them into the store more often and
capture a larger share of their spending.
Over the last four years, while reducing the number
of coupons, Macy’s has increased the proportion of
coupons offered only to our credit card customers.
Simplified Pricing Demonstrates Value