Bethany Biron/Business Insider
- $4 is taking a cue from Instagram-friendly phenomenons like the Museum of Ice Cream and Rosé Mansion with a new pop-up concept designed to increase foot traffic.
- The store, $4, features a curated selection of products based on rotating themes. The first is Color Story, and includes rooms of whimsical and monochromatic items.
- We visited Story at Macy's famous Herald Square location in New York City to see how the department store is using experiential
retail to help drive sales. - $4.
On a recent afternoon at $4, a young woman visiting the $4 struck a sultry pose in front of various displays - beams draped in fuzzy red velvet, a pile of colorful inner tubes - as her shopping partner snapped photos, presumably for her to post on Instagram later.
Though the store was buzzing with people, very few appeared to actually consider purchasing the items on display as they browsed, instead taking photos along the way. For Macy's, this was all part of the plan: As the department store looks to capitalize on the $4 in an effort to reclaim lost foot traffic, rising sales show it may just be working.
In May, the $4 stronger-than-expected performance for the first quarter of 2019, with same-store sales increasing by 0.7%. The uptick was attributed to a variety of factors - including ongoing store renovations and e-commerce growth from Macy's mobile app users. However, another possible catalyst may be the launch of Story, a "narrative-driven retail experience" that $4.
Taking a cue from the $4 like the Museum of Ice Cream and Rosé Mansion, Macy's saw an opportunity to build its own Instagram-friendly experience with the help of Story, the New York City-based boutique it acquired in 2018. Led by Rachel Shectman - the founder of Story and now its brand experience officer for Macy's - the pop-up chooses themes and then curates a rotating selection of products that fit the topic every few months.
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The first iteration of Story is "Color Story" and features more than 400 products from a wide assortment of brands, ranging from major name brands like MAC Cosmetics, Levi's, and Crayola, to lesser known indie retailers.
Here's an inside look at how Macy's is looking to experiential retail to stay afloat and carve a niche among its department store peers.