A Q&A With Erik Nordstrom at Shoptalk
In an opening keynote session at Shoptalk in Las Vegas yesterday, Erik Nordstrom, co-president of Nordstrom, was interviewed by Courtney Reagan, a retail reporter for CNBC. The discussion touched on a variety of topics, from the future of department stores to omnichannel innovation to redefining the brick-and-mortar shopping experience. Erik Nordstrom also commented on the recent passing of his brother, Blake Nordstrom, and the impact it has had on the company. Here are some highlights from the interview:
"We worked as a team on everything," said Erik Nordstrom, adding that Blake along with their brother Peter all served as co-presidents. "There was a synergy among us to be the best team we could be. It's different, but mainly because we miss him. He was my big brother, and he’s always been an inspiration. Blake personified our company’s values. He can live on, and his legacy be apparent in the company’s values."
"We learned that many of our customers pulled back on shopping for themselves. We can and should have a much better gift-giving options for our customers." Nordstrom noted the company saw a drop in store traffic in December, which had been pretty consistent throughout the year. "For the last several years, we’ve seen an acceleration in shift from in-store to online, especially during our July anniversary sale and the holiday season."