After a hurricane or earthquake or terrorist attack, the first tentative sign of a return to normalcy is the reopening of the neighborhood shops and markets. When Mom & Pop merchants demonstrate their hopefulness for the future, they are signaling the rest of us to begin to rebuild our routine. Essential Nostalgia Regardless of what side you take in the debate over when to reopen small businesses, who among us doesn't yearn to return to our favorite coffee shop, restaurant or watering hole to order our "usual"-the drink or meal that …
Blake Nordstrom: An Appreciation
My first memory of Blake Nordstrom goes back to 1993. While researching The Nordstrom Way, the company allowed me to attend an employee orientation meeting. After the twenty or so new Nordies viewed a twelve-minute company-history video called "The Nordstrom Story," a tall, blond-haired, 33-year-old, walked to the front of the room to address the group. "I like to come to these meetings and meet our new people," he said warmly. "My name is Blake and I'm really excited to have you here." At the time, Blake was vice-president and general …
The Rise and Fall of Toys “R” Us
The Toys “R” Us bankruptcy is another reminder that retail is in a constant state of disruption, which is why only those retailers that relentlessly adapt and innovate have a chance of survival. TRU, like many former dominant retailers, clung too closely to their original concept without making the necessary adjustments to modern retail realities. It’s also a cautionary tale about getting into bed with Amazon. But first, let’s take a step back and look at a brief history of TRU. As I wrote in my 2005 book Category Killers: The Retail …
Amazon.com Adds Bricks to Its Bag of Tricks
“One day, we will eventually see Amazon.com in the physical world, either with stores or kiosks,” I wrote that in my book Amazon.com: Get Big Fast in 2000. At the time, that proposition sounded crazy. I wrote, “But stranger things have happened in the world of retail. Brick-and-mortar obviously goes against Amazon.com’s business model, but Bezos has been tweaking that model since Day One.” It took almost 16 years for my prediction to come true. Better late than never. With that nearly two-decade old thought in mind, I visited the 6,000 …
Seattle: America’s Capital of Retail
What do Nordstrom, Starbucks, Amazon, Costco, and Recreational Equipment, Inc. (REI) have in common? They are all world-class retailers based in Seattle. And don’t forget 103-year-old Ben Bridge Jeweler (a division of Berkshire Hathaway, with 75 stores in 11 states), 95-year-old Eddie Bauer, and ecommerce sites Blue Nile and Zulily (just acquired by QVC for $2.6 billion). According to the most recent American Customer Satisfaction Index, Nordstrom was tops in the Department and Discount category; Amazon was the leader in the Internet …
Nordstrom Opens Its Doors in Canada
After 114 years, Seattle-based Nordstrom finally made it 143 miles due north to open a store in Vancouver, British Columbia on September 18.And what a store it is. As someone who has visited many Nordstrom stores in the U.S., I can say that none can match the 230,000-square foot store in Vancouver’s Pacific Centre on the corner of Robson and Howe in the heart of the downtown shopping hub. Vancouver, which is Nordstrom’s third full-line unit in Canada, is considerably larger than Calgary (140,000 square feet, opened September 2014) and Ottawa …