By PDX People
PORTLAND, Ore. – PDX people have known for the last two years that Macy’s was planning on closing their downtown Portland store and now the time has come for us to say goodbye but it’s going to be a long goodbye since Macy’s plans on having clearance sales here that could last until April.
Since its founding in 1858, Macy’s has been a brand name that’s well-known around the world and during the 20th Century each Macy’s store was a bustling department store that shoppers could depend on for what they needed regardless if they lived in New York or Portland.
Macy’s continued going strong following the creation of the Internet and the start of the e-commerce era in the 1990’s but with the start of e-com services like Shopify, and social media networks like Facebook, Macy’s has seen their profits slide dramatically so it makes sense for them to keep their brand alive by moving most of their operation online.
Closing their brick and mortar locations will save Macy’s $550 million dollars a year and they plan on investing half of that savings into their online business so we could see Macy’s become a major competitor of Amazon.com and other online retailers in the years to come.
The Long Goodbye
Although Macy’s is closing many of their stores nationwide the retailer certainly isn’t going out of business because besides their increased exposure online, each former Macy’s store is a location that’s potentially worth hundreds of millions of dollars so it’s likely we will see them selling off former stores and using that money to aid in the growth of their business online.