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Embracing Diversity: Macy’s Stands Out
As some retailers pull back on their diversity commitments, Macy’s is boldly expanding its focus on diversity, equity, and inclusion (DEI). The department store giant has partnered with AMP Beauty LA, an innovative platform that highlights beauty brands founded by underrepresented entrepreneurs. By investing in emerging talent, Macy's not only champions social equity but also positions itself strategically in a competitive market.
Spotlighting Underrepresented Founders
The partnership began just last week and already features seven unique beauty brands such as Teluris, Bejou, Dealbodies, Bonita Fierce, and Hairbrella on Macy's website. For many of these brands, this marks their first major retail appearance. Another seven brands are expected to join soon. This initiative showcases Macy’s ongoing commitment to elevate diverse voices in an industry where visibility can mean survival.
A Year-Long Journey Towards Inclusion
The groundwork for this partnership was laid over the course of a year, tracing its roots back to Macy’s connection with AMP Beauty LA during the Techstars startup accelerator program. Montré Moore, co-founder of AMP Beauty LA, emphasizes that this collaboration is not an isolated effort. With over 900 underrepresented suppliers already in their portfolio, Macy’s aims to further enhance its range of products that better reflect the diverse customer base it serves.
Wider Implications of Continued DEI Initiatives
In stark contrast to other retail giants like Target, which has seen a downturn after retracting its DEI initiatives, Macy’s is not experiencing a similar retreat. Instead, while other brands falter, Macy's has doubled down, adopting a pledge to allocate 5% of its supplier spending to diverse vendors. It's a move designed not just for goodwill but as a smart business strategy aimed at capturing a new customer base.
Future Growth: Macy’s and the Beauty Sector
Despite experiencing a drop in net sales and same-store sales, Macy’s is adapting by increasing its digital footprint. Just as Macy’s has taken steps to pivot towards online sales, they are also curating a marketplace that welcomes new voices in beauty. The average month-over-month growth for AMP Beauty LA is projected at an astonishing 656%, reflecting a consumer demand for inclusivity and innovation in beauty products.
The Power of Analytics in Retail
AMP Beauty LA is making waves by using data to simplify the journey for beauty brands trying to access larger retailers. As Moore states, “We’ve already figured that out for them.” This approach not only helps brands succeed in a challenging market but also aids retailers in curating products that resonate with their audiences. By focusing on metrics such as repeat purchase rates, the partnership strengthens both brands’ relevance and customer loyalty.
Why It Matters to Conscious Consumers
As a conscious consumer, supporting brands that focus on inclusivity is not only an ethical choice but also a way to enhance the shopping experience. Consumers today seek authenticity and representation, making it vital for retailers to embrace DEI initiatives. By shopping from diverse brands, you not only uplift underrepresented founders but also contribute to a marketplace that reflects our rich tapestry of identities.
These collaborations signify a shift in the beauty landscape, paving the way for future innovations and evolving the narrative surrounding beauty standards. Macy’s commitment to its DEI partners shows that they understand today’s consumers want more than just products; they want stories and connections.
Explore the diverse product offerings now available at Macy’s as they continue to spotlight talented entrepreneurs. Together, we can support beauty that acknowledges and celebrates every voice.
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