On the heels of last week's announcement from Macy's regarding store closures, Nordstrom CEO Eric Nordstrom gave zero indication that the full-price department store chain was evaluating a contraction in its store portfolio. Moreover, Nordstrom added, “We aim to provide that by offering a compelling product mix along with creating an environment where they not only shop their favorite brands and products but also discover new ones. We will focus our Nordstrom banner efforts on digital-led growth supported by our stores. One thing we're excited about is the launch of our digital markets on Nordstrom.com starting in April. By reimagining the way we work with our brand partners, we'll grow our curated online assortment to serve more customers on even more occasions through increasing our use of unowned inventory. Marketplace will allow customers to shop more products and sizes from their favorite brands while providing them more access to new and emerging brands. As we do this, we're also creating a more personalized digital experience that makes it easy for our customers to navigate our growing assortment. Expanding our assortment through unowned inventory has the potential to drive GMV growth in addition to providing compelling economics. We'll also drive Nordstrom growth by amplifying the brands that matter most to our customers, along with ensuring we have the depth in these brands, consistently across our stores and online.” The marketplace is new, but the brand strategy hasn’t changed–a dynamic that has failed to be embraced by the market.
