Nordstrom, Inc. (NYSE: JWN) will be launching a brand new store, but unlike the regular chain, it won’t be selling clothing, but offer services.
"As the retail landscape continues to transform at an unprecedented pace, the one thing we know that remains constant is that customers continue to value great service, speed and convenience," said Shea Jensen, Nordstrom senior vice president of customer experience, also in charge of the Nordstrom Local plan.
The department store chain will be launching Nordstrom Local, which will be a 3,000 sq. ft., and will be significantly smaller than the usual 140,000 sq. ft. Nordstrom store.
Nordstrom Local is the new approach that offers customers in-store services such as pickups and returns, that connects back to the main department store. The store will also have one styling suite and eight dressing rooms where personal stylists can help customers pick out the perfect look without having to go through the stress and hassle. It will also allow customers to be able to purchase alcoholic drinks such as wine or beer at the store.
The retail industry hasn’t been what companies expected, as eCommerce companies take over the scene. Nordstrom is among the many retailers who have been struggling to keep their in-store sales from declining. Nordstrom shares have fallen nearly 45 percent since its all time high over two years ago.
Retail companies have taken initiatives in order to turn around declining sales by closing store locations down, partnering up with other business, launching new products, and many other approaches. Nordstrom has tackled the problem differently with the planned launch of its new store.
"We know there are more and more demands on a customer's time and we wanted to offer our best services in a convenient location to meet their shopping needs. Finding new ways to engage with customers on their terms is more important to us now than ever." said Jensen.
Nordstrom Local is expected to open on October 3 in West Hollywood.