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America's Favorite Fashion Retailer, Nordstrom Outlines Store Strategy
By Nicole Giannopoulos
As North America's favorite fashion retailer for the second consecutive year, according to a Market Force study, Nordstrom creates an in-store experience that cannot be matched. Nordstrom CEO Blake Nordstrom will provide insight into "How Brick-and-Mortar Retail Will Thrive in the 21st Century" at the NRF Big Show on Sunday, January 12, 2014 at 10:30-11:30am.
No stranger to customer favorites lists, Nordstrom is known for its liberal return policy and excellent customer service, creating devoutly loyal customers along the way. Examining why shoppers prefer one store to another, the study uncovered that the retailer is a favorite across many categories, including: store atmosphere, return policy, helpful associates, friendly associates, knowledgeable associates, and having a website that complements the store.
How does the retailer maintain such strong brick-and-mortar loyalty despite its two consecutive years of at least 30% growth rates in e-commerce? Nordstrom customers who buy via multiple channels spend up to quadruple the dollar amount of single-channel shoppers, driving the incentive for the retailer to leverage its myriad assets — from its rewards program, unhindered access to inventory, and supply chain prowess to marketing, technology and simplified merchandise returns — to its full advantage. One important area of investment is personalizing the customer experience, using a shopper's transaction history and preferences for guidance.
Given the explosive growth of digital commerce, brick-and-mortar retailers based in shopping centers and malls, such as Nordstrom, require new ways of attracting shoppers to their venues. In this presentation, Nordstrom will delve into how to maximize community engagement, customer retention, length-of-stay and spending.
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