Nordstrom is now a digital company—and buyers and investors are excited about it.
Nordstrom recently proved there’s a big upside to investing in customer-centric digital initiatives: In Q2 2018 they posted a 23% jump in digital sales, which now account for 34% of total sales, up from 29% a year ago. That news was rewarded by with a 13% increase in Nordstrom’s stock price.
There was similar story out of Walmart: Big digital sales growth turned Wall Street heads, giving the stock a big boost.
Both of these retail tales underscore two important points about the confluence of customer experience, digital innovation, and the future of retail:
- Digital transformation efforts that focus on shopping experiences pay off
- Investors know digital sales is what drives business energy
Nobody is predicting the end of brick and mortar. Stores will always be a piece of the retail journey (especially ones that incorporate digital into the experience). But Wall Street’s confidence in digital sales as a sign of overall health and growth—even if store sales are slumping—sends a strong signal: web and especially mobile buying will continue to grow, and digital CX and other transformation efforts are a net-positive and probably necessary investment for retailers.
Learn more about how better customer experiences drive bottom-line business results by watching our webinar on the ROI of CX.