Nordstrom Rack President: Why Digital Is the Key to Dominating the Off-Price Market

It’s no secret that department stores are cranking up the volume on digital innovation to fuel future growth in their industry. And Nordstrom, which has been one of the more aggressive in the online space over the years, has set big goals for its full-price division, as well as its off-price Nordstrom Rack group. Earlier this year, leaders at the Seattle-based retail company said they aim to boost Rack’s incremental revenues to $2 billion through a series of moves that include capitalizing on omnichannel capabilities. In a talk today as part of the NRF Retail Converge conference, Nordstrom Rack president Geevy Thomas further emphasized the importance of digital in the hyper-competitive off-price channel. “All of our competitors are opening stores at a really aggressive rate. But we’re the only retailer that has a full digital complement, as well as omnichannel capabilities and the store platform,” he said. Indeed, in terms of number of stores, Nordstrom Rack is dwarfed by competitors like Burlington and TJX. The former had roughly 745 locations as of last month and has set a goal to reach 1,000, while the latter boasts more than 2,400 doors between its TJ Maxx and Marshalls banners. By contrast, Geevy said, the Rack

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