Why I bought stock in Nordstrom p.s. Free Workshops!
I bought Nordstrom stock this week,.
Before you get all excited about my portfolio, I have three shares. Yes, that's three, as in the number 3. Current value...hold on, let me check.
Apparently, the stock dipped today by 1.01 percent. Despite that, I think I'll hold. I could lose it all tomorrow, but I feel quite sanguine about it. It would have gone to a good cause (I do have actual charities I support but for now, feel free to think of me as having hidden shallows).
Why did I decide to buy it?
Fun, mainly. I love Nordstrom and this is my way of supporting them without my closet bursting at the seams. I can support their staff and appreciate their values. Plus, I believe it's a good investment regardless of the pandemic.
They have always provided exceptional customer service and I see that as an indicator of a company with longevity.
I'd also buy shares in the Seattle restaurant Canlis if they were a publicly traded company. Same reason.
If the staff you interact with treat you well, I assume they are treated well. Which means good management. Which means good business. Right?
I'm also impressed by Michael Kors, but hey, one stock at a time. Here's where I won't be buying: Saks Fifth Avenue.
Why? Because I had my eye on a designer dress for months. The original price was around $895 - plus tax. I always forget to add on tax, it's included in NZ. I kept an eye on it and watched the price drop to an amount I was willing to invest. I LOVED this dress. It was absolutely my Style Statement (Dramatic Comfort) and I knew I'd wear it for years. I was so excited when I finally ordered it.
It arrived, late, but safely. In a non-descript mail bag. Inside, the almost-a-thousand-dollar-dress-new was wrapped in a plastic bag as if it had been imported straight off a factory line. Probably had been. But this was Saks! A high end department store with a reputation. I was so disappointed. I'd genuinely expected something magical from this prestigious brand and here was my dress, as casually squished and folded as if a $23 Amazon purchase.
Contrast with Nordstrom, from which I ordered a discounted jacket. Cardboard clothing box, hanger, tissue paper. All recyclable by the way, or in the case of the quality hangar, immediately useful.
Luckily, the Saks dress didn't fit. Off the rack usually needs alterations for most of us and I tend to figure that in the price. In this case, the dress was wool and too hard to alter. I say luckily as I wanted to return it simply due to the carelessness of execution. I felt, well, dismissed. Unimportant.
Sure, I get emotional about clothes. And yes, this is a very I-am-privileged problem. A first world situation. I am extremely grateful that I had the means to save up and get the dress. But I'd rather wait for better service. And pay for it.
Where do you spend your money? Each dollar is a vote for the life you want, your values and your goals.
Not sure where I'll invest next. Remind me to talk to the owner of Canlis...