It is a sign of the time that 10 of the 13 stores Nordstrom plans to open this year will be Rack discount stores. The report in the Puget Sound Business Journal notes that a year ago, Nordstrom planned to open five full-line stores this year along with two Rack stores.
Nordstrom executives, according to Puget Sound Business Journal writer Greg Lamm, say, today, that it makes sense to emphasize value and savings.
Further, President Blake Nordstrom has said the retailer is offering more bonus points and rewards for frequent shoppers as well as sharpening prices and passing more savings on to customers.
It sounds like a wise plan and one that other retailers might consider. What can you do to add value for your customers? Do you have a rewards program? Is there a way to pass more savings on to your customers?