Buyers turn away from Nordstrom and Macy, data show - here is why
Experts say that we cannot blame the retail flight for the drop in pedestrian traffic in stores.
Regarding heavy retail strikers, stores like Nordstrom and Macy have historically directed the pack. These main names of names resisted the time test, with their spaces of brick and surviving mortar what some called "the retail apocalypse", as well as the COVVI-19 pandemic. Now many believe that the biggest threat to store purchases is growing crime , because many retailers have been forced to put goods in locks and key. But the new data suggests various reasons to reduce store sales. Read the rest to find out why buyers turn away from Nordstrom and Macy's - and how these retailers fight the crisis.
Read this then: Buyers turn away from Lowe's and Costco, the data show - this is why .
The main retailers have closed brick and mortar locations.
It seems that there have been constant reports on retail flight, especially in the San Francisco Bay region, where stores come out at an accelerated pace. Nordstrom is one of the 26 stores that have withdrawn from the city since 2020, which obtained a retail item up to 18% at the end of May. It was a striking contrast at 9% retail post In national shopping centers and 3% for general retail, Bloomberg reported, citing the Costar group.
Walmart has also closed its doors dozens of stores this spring - and while some still crime blamed , the large-scale retailer had remained firm in his position that the closed stores were "underperforming". In fact, Walmart's reasoning may perhaps more, because new data suggest that buyers are simply less interested in store purchases.
Crime is not the only problem.
As Bloomberg has reported, there is more in history - and you cannot blame crime alone to change shopping models and reduce store expenses. The point of sale emphasizes that inflation can have something to do with a decrease in expenses in general, but ultimately, buyers are attracted to the speed and convenience of online purchases.
In the United States, pedestrian traffic in retail stores, in general, fell 8% in March, compared to the same era in 2019, Bloomberg reported, Citing data to place. In the city center, these figures were even more fraudulent, because pedestrian traffic in May fell 21% compared to 2019, according to Springboard.
But while buyers may not be impatient to venture and go shopping in person, especially in department stores - Nordstrom and Macy take action to win back their customers.
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Nordstrom and Macy focus on small stores.
Interesting, for the quarter of the year ending on January 28, Macy's and Nordstrom reported a drop in sold online And net sales at Macy's fell 4.6%, while Nordstrom net sales fell 4.1%. AE0FCC31AE342FD3A1346EBB1F342FCB
But for Macy's, there was an exception. Sales in small concept stores - like the Macy's market - were an area where the retailer saw sales growth, CEO of Macy Jeff Gennette said on March 2 profit call .
During the call for results, Macy announced its intention to open five more of these stores outside the mechanism of small formats in 2023 (four markets in Macy's and One Bloombie's), moving away from " Large regional purchasing pits , "Costar News reported.
These small stores are generally around 30,000 to 40,000 square feet - far from department stores of 250,000 square feet which they generally occupied - and located in shopping centers as opposed to shopping centers. According to experts, these mini-models are more attractive to buyers.
"Retailers are looking for alternatives to the shopping center strategy in recent years and have been opening more stores in shopping centers anchored at grocery pharmacy, lifestyle and ethnic domination to go and want to enter rather And go out as quickly as possible, " Anjee Solanki , Told Costar News, US national director of retail, told Costar News.
Nordstrom was also under the spotlight with its plans to close Both its main store and its store at a reduced price, Nordstrom Rack, in San Francisco. However, similar to Macy's, the retailer opened shops of smaller formats, Bloomberg reported.
This trend cannot slow down.
This trend towards small stores is probably there to stay, because buyers do not need so much space to travel, especially when they also have the opportunity to compare prices and find what they need when 'They are online shopping, Bloomberg reported.
By 2027, retail sales sales in the United States should reach $ 1.74 Billion of dollars and represent more than 20% of the total retail sales. by data The insider intelligence market researcher.
