Strengths: constant expansion In order for a company to make its places in a global market it is very important for it to keep expanding. Although expansion maybe be a tough step at first in most cases it has proven to be very beneficial for companies. One company which has acquired success through expansion is Nordstrom. Nordstrom began as a shoe retailer in the early 1900s later it expanded it inventory and become a high end retailer of clothing, makeup, handbags and many other things (Shop.Nordstrom). Although it is well established in the United States it is now making its way into the Canadian market. Expansion has been one of Nordstrom’s many strengths. It has helped the company reach to its customers on a better level by providing
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Nordstrom provides its customers with high quality products and great customer service. Having high quality products is one of Nordstrom’s weaknesses because the quality is reflected on the price of the product. People often tend to look for deals while shopping, they also avoid spending more than they have to. A simple example of this is: if a customer is getting a shirt from another leader retailer for cheaper even if the quality is not up to par with Nordstrom the customer may be more comfortable in spending less. Having high prices only targets customers who have the disposable income to spend, this narrows down Nordstrom’s target market making its difficult to do business with a greater demographic of customers. Even though the products are high quality they are not affordable making this one of Nordstrom’s …show more content…
its self is a very profitable retailer in the United States however when it comes to potential threats; Nordstrom has many competitors which are just as popular. Some example retailers are Macy’s, Bergdorfs, Sak’s 5th Avenue and Neiman Marcus. Some discount stores include TJ MAXX and Target (NORDSTROM, INC. Competition). All the store listed above provide similar goods which is why these competitors are a big threat to Nordstrom. These store all provide a great selection in a variety of different goods which allows customers to have a greater choice while shopping affecting Nordstrom’s business. Considering Nordstrom is a high end retailer discount stores such as TJ MAXX and Target maybe a a better option for most consumers as those retailers are more affordable. Another threat that can affect operations is different economic scenarios. For example if the economic market is slowing down that means business will also slow down. In some cases if the market is slow employees can be laid off as well as the share prices of the company can drop. All economic factors effect operations making different economic situations and competition a threat for the
Nordstrom provides its customers with high quality products and great customer service. Having high quality products is one of Nordstrom’s weaknesses because the quality is reflected on the price of the product. People often tend to look for deals while shopping, they also avoid spending more than they have to. A simple example of this is: if a customer is getting a shirt from another leader retailer for cheaper even if the quality is not up to par with Nordstrom the customer may be more comfortable in spending less. Having high prices only targets customers who have the disposable income to spend, this narrows down Nordstrom’s target market making its difficult to do business with a greater demographic of customers. Even though the products are high quality they are not affordable making this one of Nordstrom’s …show more content…
its self is a very profitable retailer in the United States however when it comes to potential threats; Nordstrom has many competitors which are just as popular. Some example retailers are Macy’s, Bergdorfs, Sak’s 5th Avenue and Neiman Marcus. Some discount stores include TJ MAXX and Target (NORDSTROM, INC. Competition). All the store listed above provide similar goods which is why these competitors are a big threat to Nordstrom. These store all provide a great selection in a variety of different goods which allows customers to have a greater choice while shopping affecting Nordstrom’s business. Considering Nordstrom is a high end retailer discount stores such as TJ MAXX and Target maybe a a better option for most consumers as those retailers are more affordable. Another threat that can affect operations is different economic scenarios. For example if the economic market is slowing down that means business will also slow down. In some cases if the market is slow employees can be laid off as well as the share prices of the company can drop. All economic factors effect operations making different economic situations and competition a threat for the