From 3blmedia.com and posted by Olivia Khalili an update on Nordstrom.
Apparently, Nordstrom has a concept store in the works that will donate some portion of proceeds to charities.
- All the socially responsible marketing campaigns and product sales in the recent past (RED, Pepsi Refresh, etc…) have been successful enough to make this happen. Meaning, the companies that created these campaigns profited from them. That’s OK. It’s more than OK. It’s the best and only feasible form of CSR – the kind that can be justified to shareholders.
- The entire operation of the concept store will run separately from Nordstrom. That’s good b/c transparency would be great. It would be ideal if the operation was a 501(c)(3). No taxes on the operation could mean substantially lower prices. Unlikely though.
- More and more people are reserving their patronage for companies that are willing to focus on something other than the bottom line. This apparent change could revolutionize the way business and specifically, marketing is done. Companies may find that ‘giving back’ is an ongoing necessity and not just a temporary ploy.
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