Nordstrom Buys Two Retail Technology Companies
In an effort to personalize customer shopping experience at its stores, Nordstrom (NYSE:JWN) acquired two companies that allow more interaction between store employees and customers, even when the latter are on the web and not in store.
Nordstrom’s profits fell in Q4 2017 in large part due to spending on e-commerce tech pending with the goal of driving gains in on-line shopping, probably pushed along this path by the Amazon juggernaut.
The two companies acquired, BevyUp and MessageYes, will expand Nordstrom’s foray into e-commerce with the goal of creating brand loyalty which pushes sales and profits to a higher, sustainable level.
Summing up, many traditional box retailers, including Nordstrom, are learning that the old models no longer work without an emphasis on new technologies.
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