“It takes a long time to turn around a battleship, but they’re incredibly dangerous,” says Mortimer Singer, CEO of retail consultancy Marvin Traub Associates. Now the pressure is on Gennette to retrofit the U.S.S. Macy’s before changing consumer tastes capsize it...The way Gennette sees it, the big retail shakeout underway will have winners and losers. “We intend for Macy’s to be one of the winners,” he says. But trying to be all things to all people is a hard battle to win—and a tough holiday season in 2017 could force Macy’s to fight on fewer fronts.
The ancient human need to explain the vastness of the universe through storytelling and mythology is what’s driving millennial consumer culture today in the US, argues Maggie Montagna and Mortimer Singer. To understand the amorphous group known as “the consumer”, one has to step back and recognise that consumers are people. And how people act, individually or as a group, is driven by how they feel. We have long followed the mythologist and author of "The Power of Myth", Joseph Campbell, who was arguably the greatest student of, and expert on, mythology and legend.