The trend: Nordstrom is closing its downtown San Francisco department store and Nordstrom Rack locations due to crime and safety concerns, as well as a dearth in foot traffic as a significant share of consumers continues to work from home, per Bloomberg.
A slow recovery: Downtown areas are still bouncing back from the pandemic.
Looking ahead: Retailers have to navigate a difficult balancing act as they seek to minimize shrink without hindering the customer experience.
The big takeaway: Where people live and work has changed significantly over the past few years. That’s unlikely to shift in the near future.
First Published on May 3, 2023
One Liberty Plaza9th FloorNew York, NY 100061-800-405-0844