Nordstrom's greatest risks are associated with deviating from a formula that has nearly worked for over a century. Yes, you are probably thinking that I’m discussing the “no brainer topic” customer service, but that is not the whole story. Nordstrom’s tales of outstanding customer service is well documented, but I am talking about the importance of communication between the store workers and the decision makers. In 1995 the company was left to John Whitacre to run, the first non-Nordstrom CEO
When we apply the five forces model to Nordstrom’s external environment we are taking a look at the industry of department stores. The five forces include rivalry among competitors, threat of new entrants, threat of substitutes, bargaining power of suppliers, and bargaining power of buyers. Rivalry among existing companies is high for the industry. Some of the competition in the industry is companies like Bloomingdale's, Macy’s, Saks Fifth Avenue, and Neiman Marcus. These companies have been in
Competitor Analysis 2: Free People Aerie doesn’t face a lot of direct competition as there aren’t many brands that target directly to the younger women looking for lingerie. Free People launched their own intimates in 2012, which can be found in stores and online. Dick Hayne, who created and owned Urban Outfitters, created the brand. It was a wholesale line that was generated in 1984 (Our Story). In 2001, it became what it is today, a more mature and contemporary brand. The describe their target
Summary Sears is part of the department store subsector of the retail industry, which has had decreasing sales in the past years. The goal of this marketing plan is to increase the sales, and gain market share amongst its competitors, such as Macy’s, Kohl’s, J.C Penney, and Nordstrom’s. Focus in the areas of online sales, teen sales, loyalty program memberships, legacy brand sales, and layaway service participation will help reach these goals. Increasing operational performance, decreasing employee turnover