(Source: Business Insider | March 12, 2018)
Nordstrom has acquired two separate companies, BevyUp and MessageYes, in an effort to further improve its shopping experience with new technologies and tools, according to a press release.
BevyUp’s platform will enable store associates to communicate with customers when they’re out of the store. Style Boards, a BevyUp feature, lets store associates offer style advice and personalized product recommendations to consumers when they’re not in-store, giving store associates and Nordstrom’s shopping experience additional value. BevyUp’s platform will be a part of Nordstrom’s new mobile employee app that will come out this year. The app may also include a BevyUp feature that allows associates to communicate with each other, as well as one that enables customers to share information and shop together online.
MessageYes will bolster Nordstrom’s ability to send consumers personalized mobile messages.The company’s technology will let Nordstrom send personalized text messages and notifications that consumers can easily make purchases from. This offers Nordstrom a new way to drive sales and leverage consumer data.
Both of these acquisitions should improve Nordstrom’s ability to personalize its shopping experience, and give it more contact with consumers across channels to create a more seamless process. Consumers cite personalization as one of the most important parts of their shopping experience, but it can be difficult for retailers to offer a consistently individualized experience across all channels.
BevyUp will help Nordstrom bring the human interaction and personalization of store associates to consumers whenever they want it, while MessageYes can enable Nordstrom to serve them more effective and noticeable personalized offers when shopping online. All of this wrapped together could build a unique and comprehensive shopping experience that will make shopping with Nordstrom more appealing.
This continued investment in retail technologies shows that the retailer is not shying away from spending to improve itself, even as its expenses climb. Nordstrom’s profits fell despite significant e-commerce gains in Q4 2017 because of its various costly long-term growth initiatives. The Nordstrom family had hoped to take the company private to avoid criticism for such long-term investments, but those plans appear to have fallen through. Despite this, with the acquisitions of BevyUp and MessageYes, Nordstrom seems intent on investing in its digital capabilities to improve itself going forward, even if it proves costly in the short term.
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