Nordstrom Rewards Case Study

Register to read the introduction… The bank offers various banking and credit products, such as Nordstrom Signature VISA, Nordstrom retail credit and debit cards, interest-bearing checking accounts, check cards, and certificates of deposits. It offers Nordstrom customers cards under Nordstrom Fashion Rewards - its customer loyalty program - where customers earn a minimum of two reward points per dollar spent at Nordstrom when using a Nordstrom debit or credit card. Few retailers offer a rewards debit card. Nordstrom VISA purchases at non-Nordstrom merchants earn one reward point. Rewards include Nordstrom Notes which are redeemed or used like cash in stores for payment on accounts or new purchases and the Nordstrom Signature VISA card also has an optional travel/leisure rewards feature. The Fashion Rewards program features 4 levels of status depending on annual spend and offers various promotional times throughout the year to earn double, triple and even ten-times points. Nordstrom is revving up Fashion Rewards even more in 2012 making its rewards less expensive to get; it will take fewer points (about half) to get perks, customers now will get a new pick-your-own Triple Points day, and earn complimentary alterations and standard shipping all the way to a private shopping party sooner. Nordstrom Rack is now included too. The top two member levels (3 and 4) annual spend levels have been halved - level 3 is achieved now with annul spend of $5000+ and Level 4 for $10,000+. Nordstrom officials say the number of Fashion Rewards members is growing (about 2.6 million), as is the amount they are spending. Kevin Knight, president of Nordstrom Credit, told the Wall Street Journal that these customers make …show more content…
72 in Fortune magazine's 100 Best Companies to Work For 2009. For many years, new employees were given a copy of the famous Nordstrom's Employee Handbook – a single 5-by-8-inch (130 × 200 mm) gray card containing 75