Originally published by Raymond Pucci, Associate Director, Research Services at Mercator Advisory Group, on Payments Journal.
Corporate customers can now shop more conveniently at Nordstrom’s. The fashion retailer is expanding its gift card program with B2B gift cards as it partners with CashStar.
CashStar has partnered with Nordstrom to launch an enhanced ecommerce platform for the fashion specialty retailer to sell plastic and digital business-to-business (B2B) gift cards.
All brick and mortar stores are suffering from E-commerce competition as well as a lack of differentiation, especially in the traditional mall settings. Most national department and apparel stores did not pivot fast enough to online shopping, and even those that did find their websites are not that customer friendly. Consumers want a seamless omnichannel experience whether in person, at desktop, or on mobile. Nordstrom’s recognizes a new sales channel opportunity to take advantage of the growing corporate gifting and incentive market by offering their own in-house version. Will this turn around their lackluster sales? No, but it gives them full coverage in the prepaid gift card market for both consumers and business clients.