Business Wars Macy’s vs Gimbels - Last Store Standing | 6
Dec 18, 2019
The 1960s retail scene sees fierce competition as Macy's and Gimbels grapple with shoppers moving to the suburbs. Gimbels' Chairman struggles with declining customers and a risky upscale investment, while Macy's thrives with innovative strategies and a revitalized shopping experience. As department stores face the rise of discount retailers and mall culture, Gimbels' failure to adapt spells disaster. The rivalry intensifies, leading to a dramatic buyout and the closing of Gimbels' flagship store, highlighting the harsh realities of retail survival.
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Shoplifting Incident at Gimbel's
- In 1966, a pregnant shoplifter in Gimbel's bargain basement collided with another shopper, revealing her stolen goods.
- She fled into the subway, highlighting the store's increasing shoplifting problem.
Gimbel's Flagship Store Issues
- Gimbel's flagship store's rundown appearance violated a key retail principle: the flagship represents the brand.
- Updating it was crucial, but Bruce Gimbel faced numerous challenges.
Gimbel's East: A Risky Venture
- Bruce Gimbel considered opening a new Gimbel's on Manhattan's Upper East Side, believing it was the "richest suburb in the world."
- Despite advisors' concerns about high costs and brand mismatch, Bruce proceeded.