Reference no: EM132297022
CASE STUDY
Nordstrom, the high-end clothing retailer headquartered in Seattle, recently marked its twenty-seventh month of sales growth as annual sales reached $10 billion and market share grew despite the company’s aversion to price markdowns. Competitors such as Saks, Macy’s, and Gap struggled during the same period, stumped by slowed consumer spending during the recent economic slump.
Nordstrom, founded in 1901 and still family-run, boasts 117 full-line stores and more than 100 Nordstrom Rack outlets. It has high expectations for its burgeoning online operations and has begun expanding overseas, but cautiously, to nearby Canada. A few key elements have always differentiated the chain. Perhaps the best known is its commitment to outstanding customer service, which some say the company practically invented. Regularly ranked near the top in customer satisfaction surveys, the company rewards its sales associates for their attention to customers with generous pay and a tradition from promoting from within. It also provides superior sales tools, such as unrivaled new inventory system that allows salespeople to quickly find what customers want. The system changed the way the store’s buyers worked, but the results were worth it.
“We’re not trying to make a buck and move on to the next thing” says Peter Nordstrom, in charge of merchandising. “This is our life. We do not want to be the generation who screws it up.”
- Approximately 250 words, provide your answer to the following questions.
Please provide at least three specific examples or ideas for each of the following questions.
How does Nordstrom differentiate itself from other clothing retailers?
What makes Nordstrom salespeople stay with the company?
Why do you think Nordstrom has enjoyed continued success for over 100 years?
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