Why the expansion of Nordstrom Local is important:
that it will open two Nordstrom Local stores in Manhattan. If you’re not familiar with it, Nordstrom Local is a retail space with no inventory. It’s about the size of a Starbucks, and it provides services. You can get fitted, get styling guidance, get alterations from on-site tailors, do pickups and returns or get help ordering online, and anything you order from a local Nordstrom department store can be brought to you at the Local store in a few hours.
The department store business is challenged. It made a lot of sense before e-commerce existed because it provided one place where you could find a broad assortment. Now that anyone can shop at any time or place, having products under roof is a lot less important. There’s a big existential question mark hanging over the heads of department stores today.
New York is the largest, most competitive retail market in a country that is the largest, most competitive retail market in the world, and Nordstrom has made a big commitment to be in the New York market. Last year, Nordstrom opened a men’s store in the heart of Midtown Manhattan, and later this year, it will open a women’s store across the street. These investments are enormous and risky.
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