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Nordstrom Retail Marketing BA 495

Nordstrom Retail Marketing BA 495. By Vida Atchulo Vanessa Caron Ashleigh Artoff. Taking Customer Service One Step Further. “In simple terms, fashion is what sells. With compelling merchandise and an unyielding commitment to customer service, we can be the retailer customers trust.”

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Nordstrom Retail Marketing BA 495

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  1. NordstromRetail MarketingBA 495 By Vida Atchulo Vanessa Caron Ashleigh Artoff Taking Customer Service One Step Further

  2. “In simple terms, fashion is what sells. With compelling merchandise and an unyielding commitment to customer service, we can be the retailer customers trust.” -Erik Nordstrom, President of Stores Mission Statement

  3. History • Nordstrom formally known as Wallin & Nordstrom started in 1901 by two friends Carl Wallin & John W. Nordstrom in downtown Seattle as a shoe store. • In 1928, John Nordstrom retired and sold his share of the company to his sons. • In 1929, Carl Wallin retired and also sold his share of the company to the Nordstrom sons.

  4. History (cont.) • The company went public in 1971. • In 1973, Nordstrom sales passed the $100 million mark and the company was recognized as the largest-volume West Coast fashion specialty store. • This same year, the name was formally changed to Nordstrom, Inc.

  5. Nordstrom Today • Nordstrom is focused on catering to customers' needs, individually. • Today, Nordstrom has grown with its renowned services, generous size ranges and a selection of the finest apparel, shoes and accessories for the entire family • The company's philosophy, to offer the customer the best possible service, selection, quality and value, has remained unchanged for more than 100 years since its establishment by John W. Nordstrom in 1901.

  6. Nordstrom • Who shops at Nordstrom? -Fashion forward men and women. -Ages 16 to 65 -Repeat customers that expect high levels of customer service. • Where can you find Nordstrom? -In a larger mall around the country. Not a free standing store. • Known for yearly Anniversary Sale, which earns more revenue in one week than all of the holiday shopping season, making for very successful second and third quarters

  7. Nordstrom: Who and Where

  8. Nordstrom Rack • Who shops at Nordstrom Rack? -Men and women looking for a bargain on fashion. -Ages 16 to 65 -Both repeat and new customers • Where to find Nordstrom Rack? -Free standing stores around the country.

  9. Nordstrom Rack: Who and Where

  10. SWOT Analysis Strengths • Innovators in technology for merchandising and tracking i.e. Personal Book, & register systems • Realized customers who have a multi-channel relationship with the company spend 4 times more = 6% same store increase, 2005 • Known for yearly Anniversary Sale, which earns more revenue in one week than all of the holiday shopping season, making for very successful second and third quarters • “Forbes 100 Best Companies”

  11. SWOT Analysis Weaknesses • Currently no stores in the Boston area, the last major metropolitan area without presence - planning on opening 4 stores between 2007 & 2010 • Highest revenue comes from cosmetics, shoes and accessories, women’s apparel has potential for highest revenue, need to focus on this • Recently added Nordstrom Rack onto webpage, could expand on this; shipping or merch selection • Could improve the In Home department – very weak.

  12. The Website Believe in offering consistent “Nordstrom Experience”

  13. SWOT Analysis Opportunities • Expansion opportunities – working on stores in the Boston area • Expand from just Faconnable brand in other parts of the world (currently in Spain, Portugal & France)

  14. SWOT Analysis Threats • Macy’s, Bergdorfs, Sak’s 5th Avenue, Neiman Marcus • TJ MAXX, Other Discount Retailers?

  15. References • Google. (2006). http://images.google.com/images • Nordstrom Employee Handbook, 2006 • Nordstrom.com, (2006). http://about.nordstrom.com/aboutus/companyhist/companyhist.asp

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