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Nordstrom (JWN) Fortifies Footprint in Digital Arena
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Nordstrom, Inc. (JWN - Free Report) , which consistently adapts to the evolving retail industry, is not far behind in the retailers’ race to aggressively expand presence in the online and digital arena to offer a seamless shopping experience. The company’s efforts to expand digitally are essential to thwart the increasing dominance of the online giant Amazon.com, Inc. (AMZN - Free Report) .
In addition to making investments in the digital technology, the company is embracing omni-channel functionalities to retain the importance of physical stores in an era where brick-and-mortar retailing is losing ground. For this, the company stays focused on expanding and renovating outlets to provide better customer engagement.
Steps Taken to Boost Digital Growth
Nordstrom has long been making investments to boost the shopping experience of customers. Of late, it purchased two major retail technology entities — BevyUp and MessageYes — to cater to customers preferring online shopping. While BevyUp is a leading digital selling device, MessageYes is an iconic platform for conversational trading. These investments will be integrated into Nordstrom’s portfolio to expedite consumer’s personalized needs and accelerate business growth.
The BevyUp digital tool will be consolidated into Nordstrom’s latest and integrated mobile employee app, in the coming year. In addition, the company will supply its salespersons a mobile suite of facilities that will allow them to stay informative and easily available to customers.
Notably, Nordstrom has been persistently focusing on personalized shopping. The devices will help augment this further and enable the company to efficiently cater to customers in a digitally-connected world.
Additionally, Nordstrom is on track to integrate its digital and physical assets to create innovative and multiple ways for customers to shop. The company is focused on advancing in the technology space by boosting e-commerce and digital networks as well as improving its supply-chain channels and marketing efforts.
The company’s fourth-quarter fiscal 2017 results reflected significant progress on its digital strategy, which drove the company’s top line.
Store Expansion Plans
Apart from enhancing its presence in the digital world, Nordstrom stays committed to opening new stores and driving the top line growth. Notably, the company has successfully completed its planned full-line store expansion in Canada by opening six outlets in the country. In 2018, the company is keen on introducing Nordstrom Racks in Canada with plans to open six Rack stores. Overall, the company envisions a $1-billion sales opportunity from its expansion in Canada by 2020. It is also on track with domestic store expansion, as it is scheduled to open six Rack stores in the United States.
In fact, the company launched Nordstrom Local in 2017, which is a modern retailing concept store that does not stock merchandise. This latest concept is quite different from the traditional retail approach and is a neighborhood store, where the company’s services are easily available in a centralized location.
All said, we believe Nordstrom is aggressively making headway to safeguard its position in the evolving retail space, particularly in digital growth.
Other retailers that are fortifying their presence are Target Corp. (TGT - Free Report) and Walmart Inc. (WMT - Free Report) .
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Nordstrom (JWN) Fortifies Footprint in Digital Arena
Nordstrom, Inc. (JWN - Free Report) , which consistently adapts to the evolving retail industry, is not far behind in the retailers’ race to aggressively expand presence in the online and digital arena to offer a seamless shopping experience. The company’s efforts to expand digitally are essential to thwart the increasing dominance of the online giant Amazon.com, Inc. (AMZN - Free Report) .
In addition to making investments in the digital technology, the company is embracing omni-channel functionalities to retain the importance of physical stores in an era where brick-and-mortar retailing is losing ground. For this, the company stays focused on expanding and renovating outlets to provide better customer engagement.
Steps Taken to Boost Digital Growth
Nordstrom has long been making investments to boost the shopping experience of customers. Of late, it purchased two major retail technology entities — BevyUp and MessageYes — to cater to customers preferring online shopping. While BevyUp is a leading digital selling device, MessageYes is an iconic platform for conversational trading. These investments will be integrated into Nordstrom’s portfolio to expedite consumer’s personalized needs and accelerate business growth.
The BevyUp digital tool will be consolidated into Nordstrom’s latest and integrated mobile employee app, in the coming year. In addition, the company will supply its salespersons a mobile suite of facilities that will allow them to stay informative and easily available to customers.
Notably, Nordstrom has been persistently focusing on personalized shopping. The devices will help augment this further and enable the company to efficiently cater to customers in a digitally-connected world.
Additionally, Nordstrom is on track to integrate its digital and physical assets to create innovative and multiple ways for customers to shop. The company is focused on advancing in the technology space by boosting e-commerce and digital networks as well as improving its supply-chain channels and marketing efforts.
The company’s fourth-quarter fiscal 2017 results reflected significant progress on its digital strategy, which drove the company’s top line.
Store Expansion Plans
Apart from enhancing its presence in the digital world, Nordstrom stays committed to opening new stores and driving the top line growth. Notably, the company has successfully completed its planned full-line store expansion in Canada by opening six outlets in the country. In 2018, the company is keen on introducing Nordstrom Racks in Canada with plans to open six Rack stores. Overall, the company envisions a $1-billion sales opportunity from its expansion in Canada by 2020. It is also on track with domestic store expansion, as it is scheduled to open six Rack stores in the United States.
In fact, the company launched Nordstrom Local in 2017, which is a modern retailing concept store that does not stock merchandise. This latest concept is quite different from the traditional retail approach and is a neighborhood store, where the company’s services are easily available in a centralized location.
All said, we believe Nordstrom is aggressively making headway to safeguard its position in the evolving retail space, particularly in digital growth.
Other retailers that are fortifying their presence are Target Corp. (TGT - Free Report) and Walmart Inc. (WMT - Free Report) .
Price Performance
Shares of Nordstrom reflect 8.7% upside in the past year, against the industry’s gain of 3.4%. The company carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
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