Highly sophisticated and luxurious department stores are the lifeblood and survival of popular malls across America. Nordstrom is one of these prestigious stores. It is among a chain of luxury department stores which attract customers with a taste for the finer retail items, especially in clothing, jewelry, and home furnishing.
Founded in 1909, by John W. Nordstrom and Carl F. Wallin, Nordstrom operates 349 stores in forty states across America in addition to online inclusive and exclusive sites. The prestigious department store employs 72,500 individuals and a net income of $600 million.
Key factors to Nordstrom Success
• Experience curve over rivals (founded 1991)
• Creativity, acquisition/ expansion
• Commitment to quality and prestige
• Commitment to customer satisfaction
• Attractive customer base
• Strong brand image
These factors are the keys to sustainable success in any industry. Fortune 500 worthy companies earn such a level due to implementing extraordinary company values.
Who are Nordstrom Customers?
Nordstrom caters to customers who desire fine clothing and other retail items of superior quality. Most customers are willing to an expensive price for the merchandise they desire. Superior quality and popular brand names are a major pull factor for buyers.
The retailer does offer some affordable prices in some of its subsidiaries, especially in its clearance stores.
Otherwise, the luxurious department store caters to a diverse group of customers. Individuals who are willing to buy its products and become members of its exclusive clubs will be among an exclusive class of customer loyalist.
Pros of Shopping at Nordstrom, you get:
• Superior product quality
• Pride of sophisticated name brand
• VIP treatment, (club members)
Cons
• Clothing and other items may be too expensive for consumers on low budget. Coats and jackets can cost $2,500 or more. However, a buyer receives superior quality.
Nordstrom’s Prestigious Products
• Beauty items
• Jewelry
• Clothing
• Footwear
• Restaurants
• Home furnishing & Design
• Wedding
• Express bar
• Designer collections
• Sales events
Ranking in terms of Competition
Nordstrom stands as one of the chains of sophisticated department stores. It’s rivals, including Macy’s, Kohl’s, and JC Penny’s are a few steps behind the outstanding name brand when it comes to quality and acquiring a high-level customer base. The high-lever retailer is the choice of elite shoppers.
Final Opinion
If you have a taste for the finer things in life and desire to be associated with a prestigious name brand, Nordstrom may be your choice of places to shop. Well-designed clothing and apparel, fine jewelry, and home design items (just to name a few) awaits those who can afford shopping at the popular retailer. Also, great deals and rewards are the results of becoming an exclusive club member.
