Nordstrom opened in Pittsburgh. Apparently there had been a dearth of upscale shops but a bunch (to the tune of about 35 shops) have arrived in the area. Including Nordstrom. Here is the New York Times article about the new Nordstrom and retail in general. One of the Nordstrom’s (family store, don’t ya know) said the store was lucky that construction was under way before the economic went a bit haywire. But others feel the store and others like Nordstrom, will do well. An excerpt:
Despite the economy, Audrey Guskey, a professor of marketing at Duquesne University in Pittsburgh, believes the Nordstrom store will be successful, because there are few similar upscale retailers in the area.
“Today’s consumer will shop bargain basement and discount stores for most products, but they will splurge on a luxury item or two,” said Ms. Guskey. Still, she expects overall holiday sales will be flat or slightly lower than last year, offering a more sober forecast than the National Retail Federation, which sees a 2.2% increase.
I have no statistical evidence, but I did drive by Beachwood Mall a week or so ago and the parking lot near Nordstrom had quite a few cars. And it was a Thursday, not a Saturday.
We’ll see what our retail results for the upcoming season are and can compare the forecasting here to them. Still, nice to hear somewhat positive news for a change! Peace Out - 3C
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1 Free Real Estate Blog » Pittsburgh Retailers Not All Gloomy; Some Good Economic News // Oct 26, 2008 at 5:11 pm
[...] Pittsburgh Retailers Not All Gloomy; Some Good Economic News By Carole Cohen Still, nice to hear somewhat positive news for a change! Peace Out - 3C. Segnala presso: Aggiungi 'Pittsburgh Retailers Not All Gloomy; Some Good Economic News' a Del. Aggiungi 'Pittsburgh Retailers Not All Gloomy; Some Good Economic … Cleveland Real Estate News - http://www.clevelandrealestatenews.com/ [...]
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