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Company Insights
Nordstrom, Inc. – Digital Transformation Strategies
Nordstrom Digital Transformation Strategies Overview Nordstrom, Inc. (Nordstrom) has been focusing on using artificial intelligence, big data, and augmented reality to digitally transform its operations. The annual ICT spending of Nordstrom was estimated at $383.1 million for 2023. A major share of this spending is earmarked for acquiring software, hardware, and ICT services from vendors. Nordstrom is a specialty fashion retail company operating through multiple retail channels. The company offers a wide selection of branded and private-label merchandise, including shoes,...
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Company Insights
Innovation and Patenting activity of Nordstrom Inc Q4 2023
GlobalData, the industry analysis specialist, has released its latest company patent databook "Innovation and Patenting activity of Nordstrom Inc Q4 2023". The databook highlights patenting activity of the company in terms of growth in filings and grants, regions protected, impact of various themes, sector applicability of technologies protected. It provides contextual analysis of technical peers, their strategy, dominance (Grant share) and their recent activities. This is an on-demand databook that will be delivered upon request. The report will be delivered...
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Thematic Analysis
Future of Physical Retail – Thematic Intelligence
Future of Physical Retail Thematic Overview Online retail growth significantly outpaced the offline market both before and during the pandemic. However, since 2021, consumers have valued being able to make purchases in-store and the popularity of online shopping has decreased. Despite online retail outpacing offline retail growth, its share of the total retail market will remain relatively steady between 2024 and 2028. Due to the high cost of living, several consumers have switched to discounters, many of which do not...
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Analyst Opinions
Top Trends in the Apparel Market for 2024
Top Trends in Apparel Market Overview The Top Trends in the Apparel Market for 2024 report includes an analysis of key factors impacting the global apparel market in 2024. The major trends in the apparel market are inflation, mergers and acquisitions, the outperformance of online channels, the importance of value for money, and market polarization among others. Top Trends ·       Inflation ·       Mergers and Acquisitions ·       The Outperformance of Online Channels ·       Importance of Value for Money ·       Market Polarization...
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Sector Analysis
United States (US) Retail Consumer Insights – Spending Intentions and Shopping Habits, 2024
US Retail Consumer Insights Report Overview More than 46% of consumers believe the economy will worsen over the next six months. Thus, consumers intend to cut back on retail goods and services. Furthermore, many US consumers stated that they are switching to economic brand alternatives to cope with cost pressures. This means that retailers must have a broad pricing architecture of brands stocked in-store to entice shoppers to trade up and down within the same retailer. The ‘US Retail Consumer...
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Thematic Analysis
Connected Consumer in Retail and Apparel – Thematic Intelligence
Connected Consumer in Retail and Apparel Thematic Overview The connected consumer has been created as a direct result of other themes within the retail and apparel sectors. For instance, the Internet of Things (IoT) has transformed the way that retailers and consumers interact. It has allowed retailers to track previously untraceable behaviors, such as tracking coffee replenishment needs through a Bluetooth-connected coffee machine to a retailer’s app. This has raised the bar for the connectivity that consumers expect from retailers...
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Thematic Analysis
Customer Loyalty in Retail and Apparel – Thematic Intelligence
Customer Loyalty in Retail and Apparel Thematic Overview In retail, customer loyalty is an important parameter for any retailer’s success in today’s competitive landscape. However, it is challenging to retain customer loyalty as there is a plethora of retailers to choose from. In addition, the prevalence of online shopping allows consumers to easily compare retailers’ propositions and pick the most suitable product based on factors such as price, product, or experience. It is more expensive for retailers to acquire new...
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Thematic Analysis
Social Media in Retail and Apparel – Thematic Intelligence
Social Media in Retail and Apparel Thematic Report Overview The apparel and health & beauty sectors are increasingly adopting social media platforms and influencer marketing to promote their products and becoming purchasing channels. Adverts and paid partnerships with celebrities and influencers, especially on Instagram, are used exhaustively by apparel and health & beauty brands to expand their reach and appeal, especially among Gen Z shoppers. The purchasing preferences of these shoppers are greatly influenced by what they see on social...
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Thematic Analysis
Personalization in Retail and Apparel – Thematic Intelligence
Personalization in Retail and Apparel Thematic Report Overview The rise of online shopping, the advancement of technology, and the health & wellness trend are a few factors behind the growth of the personalization theme in the retail industry. In this digital age, retailers have innovated ways to create personalization in the online space. It also helps that they can now collect, analyze, and utilize consumer data with the aid of effective analytics tools. Furthermore, consumers are now willing to pay...
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Company Profile
Nordstrom Inc – Company Profile
Nordstrom Inc (Nordstrom) is a specialty fashion retailer, operating through multiple retail channels. The company’s product portfolio includes apparel, shoes, accessories handbags, bath and beauty products, and home accents, and other accessories for women, men, young adults, and children. The company offers a wide selection of branded and private label merchandise through its Nordstrom branded full-line stores and online stores, Nordstrom Rack stores, BP, Zella and Treasure & Bond. Its major services include styling, alteration order pickups and dining services...
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