Nordstrom Launches Online Marketplace
Nordstrom announced earlier this week that it will roll out a new digital marketplace on its website along with an enhanced search feature. The marketplace will provide the luxury retailer’s customers with a wider selection of products, brands and sizes, while allowing its brand partners to showcase more of their products, Nordstrom said in a blog post. Brands that will be available on Nordstrom's marketplace this year include AdoreMe, Cynthia Rowley, Dia & Co, DXL, Mulberry, Natori, and many more.
Total Retail's Take: Traditional brick-and-mortar retailers' expansion into online marketplaces continues, with Nordstrom joining the likes of Walmart, Target, Macy's, Kohl's, among others. The reason for this development? Of course increasing consumer affinity for online marketplaces — PYMNTS Intelligence has found that about 80 percent of consumers express high levels of satisfaction when shopping from an online marketplace — is a primary reason. Driving increased traffic and sales from online marketplaces is a diversification strategy that traditional retailers are leaning into as they seek to supplement challenged brick-and-mortar store revenues. The other factor to consider is the brand relationships that can be fostered via an online marketplace. With expanded product assortments, Nordstrom can introduce new brands to its customers on its marketplace, providing a quasi-testing platform for its stores and dot-com site.
