How InterTrade Client Nordstrom is Thriving During COVID

After a challenging 2019 that saw Nordstrom Inc. deliver less-than-stellar results for shareholders and suffer a falling stock price, the iconic retailer has come back strong in 2020 and is on track to close out the year in an enviable position.

All this, during a deadly and destructive pandemic.

After stabilizing its finances, improving inventory processes and setting in motion a robust growth strategy in 2020 -- even as COVID shuttered economies and destabilized supply chains across the globe -- Nordstrom has managed nothing less than a 180-degree turnaround during one of the most difficult economic times in modern history.

As a global retailer with a complex supply chain, Nordstrom relies on industry-leading supply chain products, services, and support from InterTrade to power their operations. In this article, we’ll review how Nordstrom has shifted their fortunes during a time of major change and how InterTrade has supported that shift.

Strong performance Year-to-Date

In an article published in September by WWD, Nordstrom CEO Erik Nordstrom announced that the company had weathered the challenges of 2019 and early 2020 and was back on track toward growth.

“We are a better company today than we were five months ago and certainly in better position for the times we are in,” Nordstrom said during the Goldman Sachs Annual Global Retailing Conference, noting that the company’s designer business was the area enjoying the strongest growth in 2020. “It’s actually performed pretty darn well during the pandemic,” he added.

Positive outlook

With a stabilized financial position and several areas of growth happening within the company, Nordstrom has stated that digital strategy represents one of the areas where management will continue to focus their energies.

The company is focused on expanding its product offering online by working with a broad spectrum of vendors to increase value for online shoppers, with whom Nordstrom has suggested the company is working in innovative ways. It’s a heartening statement that acknowledges that after the difficulties of 2019, transformational change was undertaken. The foundational work that is ongoing to reposition Nordstrom as not only a marquee retailer but also a leader in the digital apparel and accessories space ensures that Nordstrom will be well-positioned to continue to offer world-class shopping experiences to customers moving forward.

Nordstrom and InterTrade: A Winning Partnership

By leveraging the InterTrade Product Catalogue to onboard new vendors, expand their product offering and streamline supply chain, Nordstrom is achieving rare and much sought-after growth during a time of economic contraction.

For InterTrade, Nordstrom’s success is an indicator of how optimized supply chain processes and improved online shopping experiences are critical for retailers. But there are other direct benefits as well: by showing how InterTrade supports leading retailers in challenging times, the larger market will gain a positive perception of InterTrade and an understanding of how InterTrade can help them thrive.

Nordstrom intends to expand their product offerings via Product Catalogue, an initiative that will allow InterTrade to benefit from an increased number of vendors using the Catalogue solution. What’s more, each vendor will increase the number of products they make available through the Catalogue. As a result of these expansions, InterTrade will enjoy increased recurring revenues moving forward. In fact, as of August, InterTrade has already seen indications of growth in the number of vendors using the Catalogue, which will have positive impacts on monthly revenues by September.

Moving forward, InterTrade will continue to support Nordstrom and all our customers with a focus on helping them thrive during uncertain times.