Andrew Willis: It seems that with the pandemic and labour shortage, customer service has fallen off a cliff, across many industries – but very much visible in physical retail…
…Which is a shame because there are a lot of customers willing to pay a premium for a predictable and pleasant shopping experience. But Nordstrom (JWN)’s aware of this and uses a reputation for excellent customer service according to equity analyst David Swartz, to help maintain full-price prowess.
Investors may, however, be applying a discount to the company’s stock based on a rough couple of years – but today, it’s a chain of more than one-hundred full-price stores, with a differentiated product line that’s sure to attract even thrifty shoppers to more than 250 discount store locations.
For Morningstar, I’m Andrew Willis.