Macy’s attempts to take down the Amazon billboard

0

Macy’s has sued its owner, The Kaufman Organization, over the owner’s plan to allow Amazon to advertise on the billboard atop the flagship store in the heart of Herald Square, which millions see. every year during the Thanksgiving parade, CNBC reported on Wednesday (Sept. 29).

The lawsuit, which Macy’s has filed in state court, includes claims by the company that any advertising from the online retail giant will cause “immeasurable” damage to Macy’s bottom line, according to the report.

“The damage to Macy’s customer base, image, reputation and brand if a leading online retailer (especially Amazon) advertises on the billboard is impossible to calculate.” Macy’s said in court documents cited by CNBC.

Macy’s advertising lease for the billboard ended in August after more than half a century of promoting the company in this iconic space, well above one of its most famous locations. In the lawsuit, Macy’s said the Kaufman organization was in talks with Amazon before the lease expired. The original lease on the billboard space included a provision indefinitely prohibiting other retailers from advertising on the billboard, according to Macy’s.

“Macy’s continues to have rights to the advertisements in this location,” a spokesperson for Macy’s said in an email to CNBC. “We hope to realize the benefits of these rights and have asked the court to protect them. As the case is still in dispute, the company will have no further comments. “

Neither Amazon nor the Kaufman organization responded to CNBC for its report.

Related news: Macy’s embraces ‘omnichannel digital retailer’ mantra, but lags behind its peers

Macy’s recently moved away from its position as the nation’s largest department store in favor of being viewed as an “omnichannel digital-led retailer.” Macy’s plans to achieve $ 10 billion in digital sales by 2023 and will continue to work to improve profitability.

As Macy’s progresses in its digital transformation, company executives have said that one of its biggest challenges will be meeting customer delivery expectations, noting that falling real estate costs , payroll and benefits in the digital channel will offset the pressure it faces due to rising shipping costs.

——————————

NEW PYMNTS DATA: TODAY’S SELF-SERVICE PURCHASE JOURNEY – SEPTEMBER 2021

On: Eighty percent of consumers want to use non-traditional payment options like self-service, but only 35 percent were able to use them for their most recent purchases. Today’s Self-Service Shopping Journey, a PYMNTS and Toshiba Collaboration, analyzes more than 2,500 responses to find out how merchants can address availability and perception issues to meet demand for self-service kiosks.


Source link

Leave A Reply

Your email address will not be published.