Macy’s announces big change to its coupon policy
NEW YORK (Feb. 26, 2016)– Macy’s is rolling out a new “way to shop.”
The retailer will no longer accept coupons for clearance items.
Macy’s, which has long been known for its stackable dollar and percent-off coupons, said coupons would still apply to full-price and sale items.
A Macy’s spokesperson said clearance items will still be deeply discounted, but now discounts will be reflected in the final price, as opposed to occurring at the register.
The change is an effort to make the shopping experience easier for customers.
“Before there was a lot of math,” a Macy’s spokesperson said Friday. “Now, pricing is simple and clear.”
Macy’s began experimenting with its clearance policies in the fall of 2015. It tested different strategies at 40 stores around the country.
It found that customers responded well to having one designated clearance section for women and one for men — Macy’s used to offer clearance items in each of its departments. Customers also seemed to prefer clearance price tags that reflected the final sales price.
Over the last 30 days, Macy’s has been rolling out its “Last Act” clearance section in stores nationwide.
The section will be in a prominent area and designated with a banner. Clearance items will also have unique tags to make them stand out from other products.
Macy’s, like many retailers, had a rough 2015 — seasonal apparel sales took a major hit because of the abnormally warm weather.
In January, Macy’s announced it would be cutting 4,000 jobs and closing roughly 40 stores.
The company reported poor sales this week — they were down 5% during the holiday season. And the company doesn’t foresee a turnaround in the near future. But Macy’s is still one of the best performing stocks in the S&P 500 this year.