Nordstrom tops the list on New York University’s latest study on department stores’ use of digital space. The New York University think tank Luxury Lab, or L2, ranked 40 global department stores based on metrics from their Web sites, digital marketing, mobile and social media efforts. Nordstrom, which is based in Seattle, was one of four department stores to receive the “genius” label. Macy’s came in second place and Saks Fifth Avenue and Marks & Spencer tied for third.
“If you look at the guys at the top of the list, they are making huge capital commitments, upgrading operations and making inventory more flexible…,” Maureen Mullen, L2 director of research and advisory, told Women’s Wear Daily.
All together Nordstrom, Macy’s, Saks and Marks & Spencer, have a combined average online revenue of $1.7 billion per year. In Nordstrom Inc.’s first-quarter earnings call in May, chief financial officer Mike Koppel reiterated the retailer’s plans to pump about $900 million into the company’s e-commerce and digital programs through 2017.
“Approximately one-third of that $900 million relates to our fulfillment capabilities, largely through expanding capacity,” Koppel said. “The remaining two-thirds represent technology investments to improve the customer experience and to strengthen our infrastructure to support the growth of the business and the accelerated pace of change.”
This gives us even more reason to shop til we drop! Check out the complete top 40 list here.
– Najja Parker
Source & Photo: WWDSee the Top Ten Summer 2016 Trends for Women Over 40