Business Movers
Making Macy's | If at First You Don't Succeed | 1
Nov 23, 2023
Rowland Macy opens his new store in New York City after failed ventures, and finds success and a new family. Macy's grows and becomes a department store under Margaret's leadership. After Roland's death, the store faces uncertainty but is rebuilt by the Straus family, transforming into an iconic American institution.
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Quick takeaways
- Macy's success was a result of innovative business practices like fixed pricing and clear advertising.
- Margaret Getchell played a crucial role in expanding Macy's product range and driving its growth.
Deep dives
Summary of Podcast Episode
This podcast episode discusses the origins and early challenges of Macy's department store in New York City. The founder, Roland H. Macy, faced repeated failures in his previous retail businesses before opening his successful store in 1858. Macy's implemented innovative business practices such as fixed pricing and clear advertising, which appealed to customers. The episode also highlights the pivotal role of Margaret Getchell, one of Macy's employees, in expanding the store's product range and shaping its success. The episode concludes with the passing of Roland Macy and the transition of Macy's ownership to his chosen heirs, who would continue to grow the business.
