Nordstrom Leaders Attend NRF 2023: Retail’s Big Show
Every year, the National Retail Federation (NRF) brings together retail industry leaders, brands and changemakers to join the NRF Big Show, discussing the latest innovations and what’s shaping the future of retail. This year, several Nordstrom leaders joined the NRF Big Show for discussions around scaling personalization with our Nordstrom Media Network and expert personal stylists and how to be a purpose driven company. Attendees were also treated to a live recording of the Nordy Pod, featuring a discussion with Domenico De Sole, chair of Tom Ford International, about a lifetime of business lessons—stay tuned for the Nordy Pod episode coming soon!
Retail Media Networks: How the Physical Store Will Power the Next Phase of Growth
Retail media is disrupting the digital advertising industry and creating new high-margin revenue streams for retailers. The opportunity behind this fast-growing market is significant, with brands eager to capitalize on retailer first-party data to reach shoppers with relevant advertising experiences. Aaron Dunford, Senior Director of Digital and Marketing joined a conversation with Kristi Argyilan, SVP of Retail Media at Albertsons and Andrew Lipsman, Principal Analyst, Retail and eCommerce at Insider Intelligence examining how retail media networks are evolving to meet customer needs, whether that be in-store or online.
The power of retail media networks in the competitive digital ad landscape“We launched the Nordstrom Media Network back in 2019 and have been hyper focused on the customer experience and getting that right. Each customer that comes to Nordstrom is unique and should receive a unique experience. Whether they come to us to be inspired to discover or to buy, we're looking to provide an experience that is tailored to them.”
“What we’re really excited about is the growth of brand advertising in retail media networks. We're starting to see our brands come to us and say, we want to make an emotional connection with your customers. So, we're offering new ad platforms and formats such as video where we're enabling the brand to tell much richer stories to our customers to make that connection. The real magic of retail media net networks is when we are enhancing the customer experience.”
Purpose Driven Retail
More than ever, customers are looking to shop with brands with purpose—those that share the values they aspire to and care about. Gigi Ganatra Duff, VP of Public Relations and Corporate Affairs sat down with Jacee Scoular, Senior Director of Brand Marketing & Communications, Hollister Co., and Mark Broadhurst, SVP of Impact & Communications at Chobani to share insights around the importance of being a purposeful retailer.
Leaving it better than we found it
“The cost of doing the right thing outweighs the cost of doing the wrong thing. We have our famous tire story which perfectly illustrates our heritage of service and doing the right thing. Many years ago in Alaska, we had a customer come in wanting to return a pair of tires he purchased from the store that was located there previously. The salesperson empathized with the customer, refunded them and took the tires back. Though we don’t know what that amount was, the trust and loyalty we gained after that interaction is priceless. Our customers trust us to always do the right thing.”
The perfect match with Shoes That Fit
“Nordstrom truly believes that we have a responsibility to support the communities that we serve. We’ve been partnering with Shoes That Fit for the past 12 years, giving away over 300,000 pairs of shoes and have raised $1 million last year with our employees and our customers. So, we're really proud of our partnership. Something as simple as giving a pair of shoes to a child has instant impact.”
Providing sustainable solutions
“We know that there is a huge need in the beauty industry to responsibly recycle beauty packaging, so in 2019 we launched BEAUTYCYCLE. Billions of single use plastics are produced by the beauty industry every year and only 9% of it can be recycled. Customers can visit any Nordstrom, Nordstrom Rack or Nordstrom Local, bring their beauty packaging and we will recycle for them—to date, we’ve recycled 25 tons!”
Building and Sustaining a Dynamic Frontline Workforce
Retailers are reinventing how they recruit, train, motivate, and empower employees as roles evolve into relationship builders and brand ambassadors. In a panel discussion moderated by Ron Thurston, host of Retail in America, our very own Jessica Cloutier, Senior Director of Styling and Sales joins Marie Ford, VP of Customer Experience and Front Store Innovation for CVS Health to discuss how to build and sustain a dynamic frontline workforce.
The Inverted Pyramid
“The inverted pyramid structures salespeople at the top of our organization and are supported by roles below them, including our leadership teams. What's great about the structure is that our salespeople help inform everyone on the pyramid of what’s most important to our customers.”
Styling and our heritage of service
“Customers value flexibility, more than ever before, so it’s all about serving customers on their terms and providing our employees with the tools to give great service. Whether a customer is looking for inspiration through our curated looks, learning about a product though our product videos or chatting with a stylist, it’s important our heritage of service translates digitally and in person. We’re continuously listening to our customers and deepening how we engage with them.”
Year after year, the NRF Big Show gathers leaders and changemakers from around the globe for thought provoking discussions that spark inspiration and excitement for what’s to come in the retail industry. We look forward to deepening our connections with our customers, brand partners, employees and communities as we look to the year ahead. Stay tuned for a live Nordy Pod episode with Pete Nordstrom and Domenico De Sole.