Neiman Marcus will open a major store in New York City in 2018, while Nordstrom will open a major complex in 2019. These plans look foolhardy in light of how the internet is robbing stores of productivity.
The reality of how consumers are spending late in the second decade of the 21st
century has many New York department store operators very concerned.
Sales productivity has shifted to the internet cutting into store sales.
Yet, in a hope of somehow remaining competitive, every major New York
store has started a major renovation of its store. Whether it is Saks
Fifth Avenue, Macy’s, Bloomingdale’s, Bergdorf Goodman or Lord &
Taylor, each has undertaken a major renovation program to remain viable.. . . more