3 Innovations From Nordstrom to Inspire Your 2019 Retail Strategy

BART MROZ | March 20, 2019

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This past year, Lord & Taylor announced it would close its flagship store in New York City, as well as 10 of its other retail locations through 2019. While many long-established retailers have struggled to keep up in an increasingly omnichannel retail environment, the announcement still came as a surprise for many people as the 676,000-square-foot store has been a mainstay on Fifth Avenue for more than a century. A number of other legacy retailers have been forced to close some or even all their doors, but the news of Lord & Taylor proved that even upscale retailers that appeal to affluent shoppers are struggling to keep up in a constantly evolving retail environment. There's one upscale retailer, however, that has managed to change with the times. It was an early adopter of online retail as far back at the mid-90s, and in 2017 the company’s revenue reached $15.1 billion in sales: Nordstrom.

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