Nordstrom's strategies for increasing profits
Topic: Nordstrom was in the headlines for quite some time in 2017. Nordstrom is working to improve their sales still, and they have incorporated a number of strategies, such as eliminated 10%-20% of brands that under performance in stores. In Irvine, Calif. Nordstrom has set up a store that has minimal inventory, but has the sizes and colors of all the available products of particulars brands to promote customers to come into stores and see their size and color but wait to purchase online. E-commerce is indubitably taking over the retail industry and department stores seem to be in the worst position since they sell collections of other brands. How is Nordstrom differentiating itself? What can department stores do to promote better business? Why were department stores even started in the first place/what was the initial idea that they could succeed?
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