As Sears Stumbles, Bloomingdale’s Moves into the Appliance Selling Business, Report Says
If you head to Bloomingdale’s online store or New York City flagship this holiday season, you’ll see something a little bit different: appliances. As of Nov. 19, the luxury retailer is adding high-end LG appliances online and in NYC this holiday season in an effort to cater to customers who want to update their kitchens with the latest technology in refrigerators, dishwashers, and more.
The move marks the first time Bloomingdale’s has sold larger appliances such as refrigerators, CNBC reported.
The space in the flagship store will be called the “LG Signature” experience, and will offer refrigerators, washer/dryer combination machines, air purifiers, and dishwashers.
Provided the flagship space does well during the holiday season, they will continue to offer appliances in the store in 2019. Bloomingdale’s says it will also consider offering additional brands online and in the flagship, as well as adding appliance sales at other Bloomingdale’s locations. Macy’s operates 38 Bloomingdale’s stores.
The move comes as Sears, once known for its appliance sales, stumbles. The retailer recently filed for Chapter 11 bankruptcy and is closing some of its retail locations. The store’s creditors have recently suggested that all of the retailer’s store locations should be shut down.
With the one appliance industry on track to pull in $38 billion in sales by 2020, according to Euromonitor, other brands looking to up their appliance game now that Sears is in trouble include Home Depot, Best Buy, J.C. Penney, and Lowe’s, CNBC reported.