June 27, 2012
Nordstrom is Finally Ready to Take Manhattan
The long wait is over. Nordstrom, which has opened Rack and Treasure & Bond stores in New York City in recent years, is finally getting set to pull the trigger on a deal that would bring its flagship department store to the Big Apple.
According to The New York Times, Nordstrom has signed a deal to open a seven-story, 300,000-square-foot store inside a planned skyscraper on 57th Street, east of Broadway.
The store would be "about 20 blocks north of Macy’s and well west of Saks Fifth Avenue and the luxury stores on Madison Avenue," according to the Times.
Nordstrom has made no secret to its desire to open a flagship in the city, but cost and location have been major stumbling blocks.
When the company announced in 2009 that it was opening a Nordstrom Rack in New York ahead of a department store, the opposite of what it normally does, a company spokesperson told The Seattle Times, "Manhattan real estate is very hard to come by. With a Rack, there were more options available to us, and we wanted to not pass this opportunity up."
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Discussion Questions
Discussion Questions: Will Nordstrom be a hit in NYC? Do you think the north midtown location is a good choice? Will the department store have to change anything to be successful in the Big Apple?
Poll
Nordstrom will draw in Manhattan almost anywhere it chooses to locate. But the reported site is a choice one, near Columbus Circle (and at a transit crossroads), but without another anchor department store in the immediate vicinity. Frankly the brand has gained wide acceptance in the Tri-State area already and will also benefit from the huge influx of travelers and business people driving retail commerce in Manhattan.
Yes it will be a hit because it’s Nordstrom and because of its location. It is literally around the corner from Columbus Circle and the Time Warner Center and a main entrance to central park. Whole Foods is in the Time Warner Center, and it has become so crowded that I try to avoid it if I can.
The amount of tourists in NYC is good for the city but sometimes overwhelming for those of us who live here. There seems to be no limit to the amount of shopping tourists want to do in this town. I think there is no doubt that Nordstrom will be a hit.
Give affluent New Yorkers, and there are thousands, the luxuries of life in an appropriate location, and they will dispense with its necessities.
Nordstrom should succeed in high-priced caverns of Manhattan without changing their assortments or prices, which are already at the New York level.
Nordstrom is an epic brand with a unique position that is extremely well suited for NYC. The location is undoubtedly well suited as well as the company is financially prudent and 57th Street is easily accessed and central.
In terms of adapting to the NYC market, Nordstrom adapts its mix and assortments very well within existing markets (e.g., Phipps Plaza versus Perimeter Mall in Atlanta are very different in terms of merchandise) so it would be wrong to expect otherwise in NYC.
Good for Nordstrom and great for NYC!
Affluent New Yorkers + Tourists on a shopping spree = Nordstrom can not help but be a success. It’s Nordstrom, folks! They are going to be successful no matter where they decided the real estate is located. This just happens to be prime on top of prime.
Nordstrom will be a tremendous hit in NYC. Its focus on massive value combined with uncompromised customer satisfaction will drive customers to its doors regardless of their location. Add to this a great selection and the real question may be “Is NYC ready for the changes that Nordstrom will bring?”
The article says the store is 20 blocks north of Macy’s, but fails to mention that it is only a few blocks from Bloomingdale’s.
Nordstrom may take business from Bloomie’s, but probably not from Macy’s (which is a bit lower priced). I don’t believe that Bergdorf has anything to worry about. Maybe Saks does. Will it be a success? Well, in these uncertain economic times, another department store will only make life harder for merchants, without offering anything unique for shoppers. Meh.
Simple answer — Yes, particularly if the staff are trained and provide customer service like other Nordstrom “A” class locations. Great location, large market, broad product range, and their service level will be a clear differentiator. Even in a somewhat common market (one could argue that Manhattan is actually several markets) with Macy’s, Bloomingdale’s, Saks, Bergdorf, etc., Nordstrom will fare quite well.
I will definitely be making a visit soon after they open.
Are you kidding? New York has always been the home of big name department stores, and New Yorkers, as well as tourists, will love it!
New York has been pining for a Nordstrom forever. This is a great location and will surely be a huge success. It will be interesting as Nordstrom brings its legendary service to NYC and challenges the service levels of the existing luxury players, Bloomingdale’s, Bergdorf’s and Barneys.
Yes, this store will be a hit right out of the gate. Frankly, it is about time that Nordstrom opens a full line store in Manhattan. They made no secret about wanting the Lord & Taylor building on 5th Avenue, but with L & T prospering under its new owner, it’s about time they sought out a new spot. The other key east coast retail city that they are absent from is Boston, but they did announce a rack location to open there early next year.
Nordstrom will be a success in NYC; the next question is, in which product class will the battle take place? With Macy’s re-vamping Herald Square and totally redesigning the footwear department (with the assortment and the use of innovation) the game (battle) will become very interesting … the soul of retail is the new battlefield!
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Nordstrom will draw in Manhattan almost anywhere it chooses to locate. But the reported site is a choice one, near Columbus Circle (and at a transit crossroads), but without another anchor department store in the immediate vicinity. Frankly the brand has gained wide acceptance in the Tri-State area already and will also benefit from the huge influx of travelers and business people driving retail commerce in Manhattan.
Yes it will be a hit because it’s Nordstrom and because of its location. It is literally around the corner from Columbus Circle and the Time Warner Center and a main entrance to central park. Whole Foods is in the Time Warner Center, and it has become so crowded that I try to avoid it if I can.
The amount of tourists in NYC is good for the city but sometimes overwhelming for those of us who live here. There seems to be no limit to the amount of shopping tourists want to do in this town. I think there is no doubt that Nordstrom will be a hit.
Give affluent New Yorkers, and there are thousands, the luxuries of life in an appropriate location, and they will dispense with its necessities.
Nordstrom should succeed in high-priced caverns of Manhattan without changing their assortments or prices, which are already at the New York level.
Nordstrom is an epic brand with a unique position that is extremely well suited for NYC. The location is undoubtedly well suited as well as the company is financially prudent and 57th Street is easily accessed and central.
In terms of adapting to the NYC market, Nordstrom adapts its mix and assortments very well within existing markets (e.g., Phipps Plaza versus Perimeter Mall in Atlanta are very different in terms of merchandise) so it would be wrong to expect otherwise in NYC.
Good for Nordstrom and great for NYC!
Affluent New Yorkers + Tourists on a shopping spree = Nordstrom can not help but be a success. It’s Nordstrom, folks! They are going to be successful no matter where they decided the real estate is located. This just happens to be prime on top of prime.
Nordstrom will be a tremendous hit in NYC. Its focus on massive value combined with uncompromised customer satisfaction will drive customers to its doors regardless of their location. Add to this a great selection and the real question may be “Is NYC ready for the changes that Nordstrom will bring?”
The article says the store is 20 blocks north of Macy’s, but fails to mention that it is only a few blocks from Bloomingdale’s.
Nordstrom may take business from Bloomie’s, but probably not from Macy’s (which is a bit lower priced). I don’t believe that Bergdorf has anything to worry about. Maybe Saks does. Will it be a success? Well, in these uncertain economic times, another department store will only make life harder for merchants, without offering anything unique for shoppers. Meh.
Simple answer — Yes, particularly if the staff are trained and provide customer service like other Nordstrom “A” class locations. Great location, large market, broad product range, and their service level will be a clear differentiator. Even in a somewhat common market (one could argue that Manhattan is actually several markets) with Macy’s, Bloomingdale’s, Saks, Bergdorf, etc., Nordstrom will fare quite well.
I will definitely be making a visit soon after they open.
Are you kidding? New York has always been the home of big name department stores, and New Yorkers, as well as tourists, will love it!
New York has been pining for a Nordstrom forever. This is a great location and will surely be a huge success. It will be interesting as Nordstrom brings its legendary service to NYC and challenges the service levels of the existing luxury players, Bloomingdale’s, Bergdorf’s and Barneys.
Yes, this store will be a hit right out of the gate. Frankly, it is about time that Nordstrom opens a full line store in Manhattan. They made no secret about wanting the Lord & Taylor building on 5th Avenue, but with L & T prospering under its new owner, it’s about time they sought out a new spot. The other key east coast retail city that they are absent from is Boston, but they did announce a rack location to open there early next year.
Nordstrom will be a success in NYC; the next question is, in which product class will the battle take place? With Macy’s re-vamping Herald Square and totally redesigning the footwear department (with the assortment and the use of innovation) the game (battle) will become very interesting … the soul of retail is the new battlefield!