Macy's online sales could reach $10 billion as demand for luggage and swimsuits grows

The pandemic has had a huge impact on physical stores, and consumers' shopping behaviors and habits have shifted, with online channels becoming one of the main shopping channels for consumers.

According to a report released by Business Insider today, with the advancement of vaccines and US economic stimulus measures, Macy's CEO Jeff Gennette told CNBC on Tuesday that the increase in vaccinations in the United States has had a positive impact on the company's revenue .

Macy 's said in its fourth-quarter report that it added 7 million new customers during the period , 4 million of which were acquired through digital channels.

On Tuesday , Gennette said business from Macy’s loyal customers is now up 10% from the company’s fiscal fourth quarter, which ended in January.

Gennette said much of the growth was driven by younger shoppers and online shoppers, who spent 8% more on Macy's products year over year. The growth was fueled in part by the latest round of stimulus checks . When it comes to Macy's new customers , Gennette said: "They're younger and more diverse."

Gennette also said certain product categories are seeing more demand , including increased demand for luggage as people start traveling again , and he said swimwear is now Macy's best product category and the ball gown business is getting better .

Booming online sales have created opportunities for Macy's to grow. Gennette previously stated in its financial report that Macy's online sales increased by 21% over 2019, and the company hopes to increase online sales to $10 billion in the next three years . In addition, Gennette pointed out that the key to Macy's digital success lies in its stores, and they have nearly 25% of digital orders delivered through their stores.

As consumers turn to online shopping, Macy's has also accelerated its digital transformation. Previously, Macy's said it would provide customers with a better online shopping experience, including a refresh of the website homepage, curated visual content, and more precise search and convenient browsing functions.

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