Saks Fifth Avenue To Separate Online & eCommerce Business (Potential Affect On Plat Credits)

Saks Fifth Avenue has announced that the physical stores and eCommerce business will be separated, this will allow the online arm to raise money to fund it’s growth. WSJ is reporting that few changes will be seen by customers and they will be able to purchase online and pick up in store. Readers of this blog might be interested in this change due to the twice annual $50 American Express Platinum credits.

Based on my reading I doubt we will see any change to how those will work, as this is really just a way for investors to be able to invest in the online arm of the business without worrying about the physical brick and mortar business but it’s always possible that the way American Express has structured the contract that it could have an affect.

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24 Comments
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MiceChaseTheCheese
MiceChaseTheCheese (@guest_1155057)
March 6, 2021 15:56

Enjoy chasing down these credits, how much time do you spend doing this? What a way to spend your time.

Frank
Frank (@guest_1155581)
March 7, 2021 22:37

Lol chase has paid me $9,000+ of statement credits. Quite delicious cheese

Jordan (Professional MSer)
Jordan (Professional MSer) (@guest_1155009)
March 6, 2021 13:59

FUCK YOU Saks!!!!!!!!

Kenny Shaw
Kenny Shaw (@guest_1154999)
March 6, 2021 13:31

I messaged their support when I had issues making a $65 order, and they to my surprise gave me 25% off and $10 off my order, and free shipping stacking all three. Not sure if that’s typical for them but if you chat and complain they seem to be quick to throw some coupons at you. Don’t see any reason to order there though other than for the $50 credit.

lilurbanachiever
lilurbanachiever (@guest_1155165)
March 6, 2021 21:37

Not exactly my experience with them. Bloomi and the Rack have a better customer service.

Kenny Shaw
Kenny Shaw (@guest_1155166)
March 6, 2021 21:38

Interesting, I’m sure it’s YMMV.

iahphx
iahphx (@guest_1154974)
March 6, 2021 12:00

If you’re like me and find Saks merchandise to be generally unattractive and always overpriced (even during the post-Xmas closeout) you may want to copy my recent strategy. I happened to pass by a mall with a Saks and bought a $50 Saks gift card there with my Amex Plat card. You must buy the gift card in-store, not online. I then went to CardCash and sold it to them for $41 (I assume the rate could fluctuate). CardCash was easy to deal with and they paid me in a few hours. Personally, I much prefer $41 in cash to $50 in Saks merchandise.

SF
SF (@guest_1154993)
March 6, 2021 13:21

I find that the skincare is a good thing to buy there though. I usually get the Estee Lauder Advanced Night Repair serum, which is priced similarly at Saks and other official retailers, and the $50 credit offsets quite a large amount of it.

Merman
Merman (@guest_1155219)
March 7, 2021 01:45
  SF

Agreed — Le Labo is my go-to.

Jed
Jed (@guest_1155054)
March 6, 2021 15:47

I’ve found that their high end cutlery is priced similar to other retailers. Personally I’d never pay $200 for a single knife out of pocket, but price is identical to other options and will be free after credits.

Kenny Shaw
Kenny Shaw (@guest_1155167)
March 6, 2021 21:39

You’ve gotta live near a Saks store though, wish there was one near me but alas I do not have one.

iahphx
iahphx (@guest_1155392)
March 7, 2021 14:27

True. But if you travel at all, the odds are good that you’ll pass by a Saks store every 6 months. My closest store is 40 miles away, and I wouldn’t make a special trip to do this.

Kenny Shaw
Kenny Shaw (@guest_1155393)
March 7, 2021 14:29

True, if only the one in Pittsburgh stayed open I’d be doing this.

ithrowpoop
ithrowpoop (@guest_1155168)
March 6, 2021 21:40

I’m with you there. Nothing for me to buy. I go get the gift card in store and give it away as a birthday present to middle aged people…

iahphx
iahphx (@guest_1155391)
March 7, 2021 14:26

Don’t burden anyone with a Saks gift card: trade it in on CardCash and give them something better!

CSlams
CSlams (@guest_1154943)
March 6, 2021 10:11

Surprised Amex still partners with this place…no app, mobile website is a disaster, they don’t make online shopping in 2021 easy

reallove
reallove (@guest_1154931)
March 6, 2021 09:45

I’m gonna use this first half of 2021 credit soon, before anything happens like it did with United’s TravelBank.

Bo
Bo (@guest_1154946)
March 6, 2021 10:21
YRK
YRK (@guest_1154953)
March 6, 2021 10:55
  Bo

Same

Squackery Doodledoo
Squackery Doodledoo (@guest_1154973)
March 6, 2021 11:57

I am going to start running around right away, before the sky starts falling down, just like it did with chicken little

dave
dave (@guest_1154920)
March 6, 2021 09:09

header typo – “seperate”

NY
NY (@guest_1154934)
March 6, 2021 09:51

Second typo – “affect”

AC
AC (@guest_1155047)
March 6, 2021 15:22

Same goes for “affect” in the body.

brokenarcher
brokenarcher (@guest_1155116)
March 6, 2021 19:12
  AC

Also I think the title meant to say “separate physical and ecommerce business” not “online and ecommerce” cuz these two are the same thing?