Macy’s is rolling out a marketplace concept it calls The Market @ Macy’s, which will enable local companies and brands to rent pop-up space on its ground floors. This will not only give brands opportunity to promote their wares, but will also help to differentiate stores and make them less predictable, executives say.

"Overwhelmingly, what we think makes this so attractive for Macy's and our customers is [that] it continues to drive customers to stores by giving a constant break of discovery," said Marc Mastronardi, Macy's executive vice president of new business development and innovation, speaking to CNBC. "We have not [before] had a model in which we have provided [Macy's retail service] to a really diverse set of categories coming into our space."

Companies will pay a one-time fee for the space and receive all proceeds from the sales, though Macy’s store employees will handle the actual selling.

The program launches today and will be operating initially in 10 cities, including at the Herald Square flagship in New York City, as well as in Boston; Las Vegas; and Fort Lauderdale, Fla.