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Nordstrom stock falls after inventory-free store plan

13 September, 2017, 01:16 | Author: Jeff Stephens
  • Nordstrom's New Store Won't Sell Any Clothes — But Will Have a Bar Stocked with Beer and Wine

Instead of merchandise, the new Nordstrom store will focus on offering services to customers.

The Nordstrom family members - company Co-Presidents Blake Nordstrom, Peter Nordstrom and Erik Nordstrom; President of Stores James Nordstrom; Chairman Emeritus Bruce Nordstrom; and Anne Gittinger, granddaughter of Nordstrom co-founder John Nordstrom - had not made any proposal yet, the company said then. Nordstrom said this location won't stock accessories or clothing itself, but that people can order items for same-day pickup at the store.

The store will offer services like manicures, as well as wine, beer, coffee or juice from an in-store bar in the hopes of turning a trip to Nordstrom into an outing. Brick-and-mortar locations are still where most purchases happen, and they're invaluable as ways to acquire new customers and keep existing ones. The Nordstrom Local store, as it will be called, will open 3 October.

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Retailers across the country are trying to figure out how to make the best use of their vast swathes of physical store footage, when shoppers are buying more and more products online. A custom-clothing service will also be available.

Nordstrom is just the latest major retailer struggling with declining sales at its physical stores, a particularly acute problem at department stores, and looking to smaller format stores as way to reach more customers - comparable sales at Nordstrom's full-service department stores fell 7% in the first half of the current fiscal year. However, if the concept store goes well, it is likely that JWN will consider more of the stores.

More than anything, Nordstrom Local is service-oriented, and in addition to styling services, customers have access to the retailer's other amenities like Trunk Club styling, Buy Online, Pick-Up In-Store, onsite alterations and tailoring, same-day delivery, and curbside delivery.

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Nordstrom is about to experiment with a tiny location to attract new customers - and it won't even be selling any clothes there. If shoppers like what they try out, they can order the goods and have them delivered.

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