Friday, 24 November, 2017

Nordstrom to open California store with no inventory

Why Nordstrom Inc. Stock Popped Today Taking a Fresh Look at Nordstrom, Inc. (JWN)
Preston Stone | 13 September, 2017, 01:16

Nordstrom is opening a new store in California next month that's significantly smaller than what the department store chain usually builds and - in a twist - won't be stocking clothing or any inventory at all.

The store is set to open in West Hollywood, Calif., on October 3. Among its services, the new Nordstrom will offer *free* personal styling, alterations, trunk club services, manicures (!), and on-site refreshments (aka wine and beer). If consumers have to come into the store just to have a consultation about a potential purchase, then make the purchase, and wait for delivery, then the shopping experience has gotten a lot more complicated and a lot more time consuming. But it actually makes ideal sense for Nordstrom, and it seems far from insane when considered against the backdrop of the struggles facing brick-and-mortar retail today. "Finding new ways to engage with customers on their terms is more important to us now than ever".

JCPenney has said it will close 138 locations, roughly 14% of its stores.

Don't get us wrong, we're all about online shopping.

Labeled Nordstrom Local, the store will be staffed with personal stylists who can order merchandise for shoppers. That's why it isn't critical to have racks packed with clothing on hand.

The chain's first-of-its-kind concept store on Melrose Place is just two percent the size of a typical Nordstrom and focuses on services, not products. It's an innovative solution to the problem of over-investment in retail space-which some have called a retail bubble.

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Image:Nordstorm launches retail store with new concept.

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Of course, this is still an experiment, and it's unclear whether it will pay off.

The Nordstrom Local will have eight dressing rooms to allow shoppers to on clothes and accessories like shoes, even though that merchandise will not be stocked at the store. So far, the luxury department store has largely avoided the full brunt of the 'retail apocalypse, ' but the stock is trading at just 55% of its $82 peak in March of 2015.

If nothing else, Nordstrom Local could be a valuable testing ground for Nordstrom to observe shoppers in the wild and figure out what they want.

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