Nordstrom will open a men’s shop in New York City starting this week. It will be open 24 hours a days. Nordstrom will offer a range of services in the store, including overnight pickup and self-service returns kiosks. The store also offers shoe shining and “sneaker cleans” for customers who aren’t home. New York is about 10% of Nordstroms digital sales. Customers can pick up their order at any hour of the day and receive curbside delivery. Customers will be able to scan their receipts at the self-service kiosk and place items in a bin. This is one of two such kiosks in the country.
Total Retail’s View:Nordstrom continues to innovate brick-and-mortar stores. Retailers are continually challenged to incorporate digital technology in their stores. Customers expect physical locations to offer more than just a place to shop and view products. This new Nordstrom men’s store will offer unique experiences for New York City shoppers. The 24-hour retail store is closely aligned with online shoppers’ shopping habits. Nordstrom customers can shop online at any hour, so why not have the option to pick up and return to the store at any given time? To keep their customers engaged and interested in the physical stores, other retailers could follow Nordstrom’s example of transforming brick-and-mortar locations into commerce hubs.
Sears Sells 16 Stores at Online Auction
According to an Wall Street Journal report, Sears Holdings will be selling 16 of its nameake stores in an online auction. These 15 stores are attached to malls and are being sold as lease-back or sale deals. This will allow Sears the ability to keep operations going while also paying rent. Some properties will be available for sale to new owners who can alter them for residential, hotel, or self-storage purposes. There are 16 Sears stores in Texas, Indiana and Michigan. Cushman & Wakefield is a real-estate services firm that will be conducting the auction via Real Insight Marketplace. This online platform allows for easy bidding. The auction process started in February and all bids must be received by May 1. Around 200 investors groups expressed interest in buying the stores.
Total Retail’s View: 16 stores were sold as part of Sears’ plan to sell assets to raise liquidity and get back to profitability. Sears stated that it would close more than 100 stores before April. The company recently stated that it had raised enough money to pay $407million towards its pension plan, which will allow for the sale 140 properties. Sears has not yet announced when these sales will occur. Sears’ latest quarter saw a drop in revenue of nearly 28% and sales at the same store fell by more than 15%. With its huge selection of mattress and appliances and growing loyalty platform, including partners Uber, GasBuddy, and fuboTV, the company hopes to entice shoppers back.