Supposedly not, but they’re sure not shy about telling Marshall Field’s. Specifically to drop its name and replace it with Macy’s. That’s what the folks at Federated Department Stores have decided, having spent $11.9B to acquire Field’s owner, May Department Stores, earlier this year. And viewed from the perspective of national advertising efficiency, this might seem like the obvious choice. But only if you think money counts for more than goodwill. Because for the generations of Chicagoans raised with the expression “meet me under the Field’s clock” this is a big deal, and not a good one.
So will loyal Marshall Field’s shoppers vote with their feet? That remains to be seen. I’m sure Federated did oodles of research to assure themselves this won’t happen. But there was tons of research done in support of New Coke and we know how that turned out. We’ll see what the holiday season’s shopping report is, although the numbers may be buried inside Federated’s overall results. But don’t be surprised if sometime next year you see the return of Marshall Field’s and a few marketing executives consigned to the remainder bin. Because a hundred plus years of brand equity is generally worth a lot more than ten million dollars in advertising efficiency.
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