BUS 450 Samford University Strategic Implementation Discussion Reply

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One of the ways this video relates to our book is the process of moving from strategy formulation to strategy implementation. Both online and in-store retailers are having to adjust their retail formats to match a new way of consumer shopping. Brick-and-mortar retailers like Sears who had competitive advantages such as catalog purchasing has to either adapt their retail format to online customers or risk other businesses such as Amazon replacing them. According to our textbook, moving from strategy formulation to implementation involves tasks such as altering sales territories, adding new departments, closing facilities, changing advertising strategies, building new facilities, and building a better management information system. This not only applies to in store retailers who are having to adapt to an online environment, but also online retailer who are hoping to improve their format, like Amazon is doing with opening the Amazon Go and Amazon Bookstores.

In order for any retailer to survive in this new retail environment, they have to work towards creating an omnichannel retailing experiences. This is a coordinated multichannel retail offering that provides a seamless and synchronized retail experience using all of the retailers shopping channels. One major retailer who is taking action before it is too late is Macy’s. In 2020, the department store retailer announced plans to close 125 store locations in order to better focus on their online store and mobile app. Officials for the store say the app accounts for more than $6 billion per year in sales. The company is also closing its Cincinnati headquarters and making New York its main base of operations. Along with its restructuring plan, the store is also adopting some innovative new in-store technologies. In select stores Macy’s has a large Look Book display that allows customers to interact with a digital catalog that checks the availability of various colors and sizes along with providing them with additional information of interest. Macy’s also partners with an app that allows customers to opt-in and when they enter a Macy’s location, it tracks their movements throughout the store and send them coupons based on which parts of the store they visit.

Also, one of the legal implications of Walmart and Amazon dominating the online market and causing consumers to shop in person less is that local stores are receiving less business and are at risk of going out of business which can have a negative effect on the local economy. Small businesses have a difficult time staying afloat which is another negative effect on the economy. Small businesses open up more jobs for the community and they help make the market more competitive. Walmart and Amazon are causing jobs to be taken away from communities and are causing there to be less competitors in their wake. The less competitors there are, the higher the prices Walmart and Amazon can set since there is no one else offering the same product.