The Market @ Macy’s is a pop-up shop within a dozen of Macy’s biggest stores nationwide. A pop-in, if you will. The Market @ Macy’s debuted in early 2018 and features a variety of both up-and-coming and established brands. For the most part, the specific products displayed at each market are unique to that particular Macy’s store.
When The Market first launched, Marc Mastronardi, EVP of new business development and innovation at Macy’s told CNBC, “Overwhelmingly, what we think makes this so attractive for Macy’s and our customers is it continues to drive customers to stores by giving a constant break of discovery.” Plus, Mastronardi said, “For really minimal company investment, we were able to take the capabilities that we already have and package them in a way that is creating a new revenue stream, product discovery and something that is good for the customer.”
The program did not get much attention until The Market @ Macy’s teamed up with Facebook last fall leading up to the holiday season. Facebook brought a branded shopping experience to Macy’s featuring 150 products that advertised on the social media platform.
The Market is a great money-making opportunity for Macy’s, of course. Having outside brands bring in products to these larger-than-life stores means Macy’s is saving on inventory costs. The Market also helps with media coverage and advertising. Perhaps most valuably, Macy’s gets a better handle on what kinds of products are actually selling.
But, The Market also provides a great opportunity for brands, startups, and independent businesses. If you’re an ecommerce company, The Market is an opportunity to get your products into brick and mortar stores without having to walk the tightropes of physical retail yourself. For any independent retailer, it’s an opportunity to get your products and your name out in front of a larger audience.
Though Macy’s does partner with household names like Facebook, Bose, and Ferrari, The Market is not exclusive to established brands. Right on The Market’s homepage, they advertise opportunities for startups and independent businesses: “Our unique pop-up market concept is designed to help innovative makers like you break into retail stores, boost your exposure and connect with a broader customer base. It’s easy, flexible, requires zero long-term commitment—and you keep 100% of your sales!”
To apply to The Market, all you need to do is visit their website and enter basic information. Sound too good to be true? Maybe. Though brands that participate in The Market @ Macy’s keep 100 percent of product sales, there is a one-time upfront fee. The exact amount of this fee is not published, and varies based on how long you want your products displayed at the market, how many stores you want to display in, and during what season. If you have unique products, are ready to scale your business, and have the resources to invest, applying to The Market @ Macy’s is certainly worth a shot.
You can also take a page from their book and replicate a similar business model in your own store. Work with other local businesses to host curated pop-up events within your four walls. Rent out space to emerging business owners. Using your store as an incubator for other local businesses can bring in foot traffic while also breathing life into your local community. Or focus on building your business outside of your four walls and take a chance at The Market @ Macy’s.