Macy's Taps BBDO New York As Part of New Marketing Strategy

Macy's has hired BBDO New York as its new creative agency of record, a move that comes two weeks after the retailer announced an upcoming marketing strategy and loyalty program. "As part of the next evolution of Macy's marketing approach and following a closed review among a select group of agencies, we have selected BBDO New York as our new creative agency of record, effective immediately," said Julie Strider, VP-media relations at Macy's, in a statement. "BBDO New York will be a great partner for us as we execute our 'Familiar to Favorite' strategy centered on building Macy's brand love, fashion authority, loyalty and value," added Strider in the statement. Representatives from BBDO deferred comment to the client. Macy's began working with New York-based agency Figliulo & Partners in 2016. Representatives from F&P were not immediately available for comment. Macy's, which spent $591 million on measured media in the U.S. last year according to Kantar Media, down 18% from 2015, bolstered its marketing department with the hire of Jim Reath from BBDO New York to be a senior VP this spring. Earlier this month, the struggling retail chain store showed a glimmer of hope when it reported better-than-expected second-quarter earnings. However, it still posted its 10th straight quarterly sales decline on Thursday, recording a 2.8% drop in same-store sales. The company expects a sales decline for the year as a whole. Macy's CEO Jeff Gennette, who took over as chief executive and president earlier this year, said during this month's earnings call that a bright spot for the company going forward will be its new marketing strategy. "We're excited about the new launch of our marketing strategy in September and the new loyalty program in October," he said on the call. The company wanted to "reengineer its entire marketing machine," he said, adding that both the new strategy and the program "will help our sales trend as we move through the back half of the year." Macy's is also simplifying its promotions in an effort to make sales more targeted and compelling. Its new approach to ads calls for a focus on regional, 15-second TV buys rather than national, 30-second spots, a strategy conceived by Chief Marketing Officer Richard Lennox, who joined last year from Toys R Us.

Macy's Taps BBDO New York As Part of New Marketing Strategy

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