Tuesday, April 26, 2016

Nordstrom Needs to Close 25% of its Stores?

In specialty we need to compete on design, not on price.  the upscale retailers to whom we sell are our brand.  Whether that happens to be Gumps or Nordstrom or Saks, we don't care.  We just sell to whoever is thriving out there.

So to achieve the sales per square foot they had ten years ago, Nordstrom has to close 25% of its stores. Ho hum, we discovered Nordstrom when we were looking for customers, as we did all our other customers.  If Nordstrom actually disappears, we'll find whom the market elects as their replacement.

So the article by Mish is not of much interest, except this line from the report:
Many retailers say they make less money selling goods online than they do in their physical stores. 
 Exactly!  Anyone who thinks marketing online is a viable means of developing business is delusional.  Online retailing will crash with the coming bust, although at around only 6% of all USA retail, it does not have far to fall.

If you want to start up a viable business, a website is a minor aspect.

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