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Retail positioning strategy of Nordstrom
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Competitive Strategy
The company’s strategy is customer focus strategy; Nordstrom has followed its faithful philosophy as offering its customers the best possible quality and value service. Being successful in the industry, the company has become a leading in fashion retail industry. When people tend to pay attention on the fashion, so that they are willing to spend more on the premium or exclusive products. Therefore, the company can provide items, which meet customers’ need will be the most successful in the industry. In addition, understanding the important of providing the best customer service, Nordstrom always be professional in their design of the store and employees attitudes such as, all of their stores are design to set the color and lighting, which can create the relax feeling for shoppers. Moreover, Nordstrom employees are well trained to
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According to Speer, one of the secrets that make Nordstrom customers service become successful is the relative absence of rules and guidebooks (2012). In addition, based on the company’s policies, Nordstrom allows its customers to return their purchased items all the time. It is not only for customers shopping at Nordstrom stores but it is also for those who shop from their website can get free shipping and free return. Moreover, since Nordstrom provide the service of “matching price” and sale adjustment, which help to increase customers’ satisfaction because, they believe that Nordstrom always offer them best price for quality products.
Recommendation
According to Briggs, in 2012 the e-commerce sales came up to 40% of the total sales revenue of Nordstrom, there is $1.3 billion was contributes to the company’s total sale revenue (2014). In addition, according to Enright the ecommerce
Target and Nordstrom’s are set up mainly as department stores in which product lines are organized in departments to be occupied by specific buyers and sellers. While Nordstrom is arguably the premier retailer of a wide variety of clothing, shoes, and accessories that land on the high end of what most would call “affordable,” Target would be considered the store for people who are middle class. The legendary “half-yearly” sales for men, and the additional markdowns that usually follow a sale section that is usually decently well stocked. The designer brand list has wild range in-house brands like Gucci, Prada, and the plain old Nordstrom line offer more than a few items with incredible looks and high quality for very reasonable prices. Its website is clean and easy
From the employees’ perspective; they are managed someone with experience in their same specialty who can effectively understand and review their work. Furthermore, they can move up within organization, which gives a reason for them to be loyal to the job. They also have the opportunity to work with others in their field, which allows for knowledge sharing and learning new skills. From the managers’ perspectives; this would make their jobs easier and makes them able to supervise the individual’s performance of their team members to distribute recognition, rewards and punishments accordingly. This has created an environment that hugely corresponds with Target’s core strategy, differentiation. Many of the shoppers have expressed their satisfaction with the services that provided by Target and more specifically with how friendly the staff
Macy’s intended to deliver enhanced shopping experiences to its consumers through dynamic department stores and online sites. In this regard, the company developed a North Star strategy that allows it to improve its sales growth and to develop its existing core activities. The company’s consumer research monitors, analyze and anticipate their needs and wants based on the changing market trends. This allows it to strengthen its customer base and also helps it in identifying new markets and customers. Macy’s also identifies different styles and designs based on various occasions and events that allow it to capture the changing preferences of its customers. The company also celebrates various iconic events to interact with its customers which
The ecommerce industry is growing faster than ever. TJ Maxx needs to start focusing more on ecommerce not only to keep up with competition, but also to make sure they do well during weak economic periods. ecommerce, overall, tends to do very well during lackluster economic times. TJ Maxx will be able to cut costs more easily the more they expand their ecommerce business. Our business idea will allow them to expand their ecommerce as we will take over their website and delivery. TJX Companies’ three ecommerce sites accounts for only about 1.0% of the company’s total sales. However, the online channel is a key growth driver and TJX is taking initiatives to improve its online business. The ecommerce sales
Nordstrom’s retail positioning strategy provides it with the competitive edge it needs to differentiate it from competitors who also serve similar markets.
Nordstrom is one of the top retailers in the United States. With a solid brand image and a sound financial situation, Nordstrom is relentless in their expansion in the US, and are beginning to expand into international markets. Nordstrom takes pleasure in providing state of the art client support and having experienced sales people. In order to hold their position as the most successful high-end retailer in the United States, Nordstrom must continue to figure out ways to improve their brand image and customer satisfaction. Nordstrom’s current business working strategy is successful but I believe there are a few ideal solutions that the organization could apply to further enhance the organization. Due to the aggressive characteristics of the fashion retail store market, it is crucial that Nordstrom preserves an aggressive advantage providing the highest level of customer support as possible.
Recommendations to achieve a sustained competitive advantage: Online, mobile, and store purchase will certainly increase customer traffic with the online and store combinations gives Target Corporation with a best possible low-cost price. A best-cost provider strategy allows Target to position itself and compete with low-cost providers such as Walmart. In addition, it employs a competitive strategy with a designer label along with superior supply chain, increased operational capabilities, and skilled employees. . The strategy of sending coupons are huge for a customer, so increase discount based on their purchase history and use the store brand credit card to attract more customers.
Macy 's strategy is to provide a "localized merchandise offering and shopping experience to targeted consumers" (Macy 's Inc., n.d.). Macy 's generates primary revenue through the sale
Macys has become one of the greatest retail stores in the United States. Since they first opened their doors to customers in 1858 Macy’s stores have always been grand and innovative. They have changed their stores quite remarkably since it’s beginning. Macy’s elegant charm has brought in customers and help turn this retail store into a huge company. Currently Macys has 850 department stores in 45 states. Most Macy’s stores are quite grand and have two to three levels in which they market to youth, women, men. Macys selling strategy also has grown to have great experience in pulling in customers. From sales to advertising Macys is a big fashion competitor.
Brand identity is about story telling. Using the latest content that has been published, compromising the five best images that reflect the profile of the brand, a consumer-photo-storyboard can be developed to: Describe the profile of the brand; Identify the main communication and publicity themes; and Critically assess the integrated modes of communication with consumers, including limitations and negative content.
Amazon’s also tried to spearhead the industry by introducing the customer-pleasing traits in terms of the technology, order fulfillment and retailing strategies categori...
In a simple way, the retailer needs to create a warm, friendly and an approachable retail space to attract consumers.The visual displays is an imperative element of branding of any store. If the stock is presentable, it is bound to appeal to the shoppers. If the shoppers appreciate the store layout and product, they are likely to spend more time in the store, and in return reward the store with sales. Along with the products for sales, the staff, the décor, the store interiors, the trial rooms arrangement, the lightings and music also form an inclusive elements boosting store sales. (fibre2fashion, 2008)
Managing a store is fundamental component of any retail store. Whether this is a brick and mortar store or an e-commerce platform, the store manager or e-commerce manager is responsible for achieving sales targets. Having worked in a fast fashion clothing retail store for almost 18 months and as a former assistant store manager in training. I have experienced the importance of a brick and mortar retail store. Upon reflection besides learning basic retail skills in selling and operating day-to-day store business, the most fundamental learnings where about effective communication, teamwork and leadership, scheduling and costs.
Looking good is one of the priority that people always want to keep especially when it comes which retailer store you do your shopping. In this essay our work will be based on Truworths, as Truworths is one of the retail stores and leading fashion retailers. We will also look at how it incorporates with other well-known fashion stores.
With online shopping many people order things that they want to return. Online shopping shows great hassles to this, where you must pay to ship it back to the company, where the item or items may get lost. With stores being only a couple miles away that person can return it where they know it showed up in the employee’s hands. Compared to online shopping the customer may receive their money back right away if they did not like something, where online it could take days or even months.