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Insight of the Day: Macy’s: Even Luxury Shoppers Are Making ‘Thoughtful’ Choices About Spending

Key Takeaways from Macy's Earnings Call and PYMNTS Intelligence Reports:

  • Economic Pressures Impacting Spending: Even high-income consumers are becoming more selective in their purchases due to economic pressures.

  • Shift in Luxury Spending: While luxury handbag and shoe sales are softening, high-income shoppers are still investing in advance contemporary products, beauty items, and home goods.

  • Beauty Sector Resilience: The beauty sector remains strong, with consumers showing a willingness to spend on products that enhance their self-care and well-being.

  • Digital Updates and Frictionless Shopping: Macy's is prioritizing digital improvements to enhance the online shopping experience and remove friction for customers. This aligns with consumer preferences for easy navigation and seamless checkout in online stores.


Macy's financial results and PYMNTS Intelligence reports reveal a changing consumer landscape where economic pressures are influencing spending habits across all income levels. Even luxury shoppers are becoming more thoughtful in their purchases, with a shift in focus towards advance contemporary products, beauty items, and home goods. The beauty sector remains resilient, as consumers prioritize self-care and well-being. Macy's is adapting to these trends by focusing on digital improvements to create a frictionless online shopping experience. The findings highlight the importance of catering to changing consumer priorities and providing a seamless shopping experience to retain customer loyalty in a challenging economic environment.

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