Nordstrom is a public limited company of American origin. It is associated with lifestyle and retail industry as it operates via departmental stores. The company was founded in the year 1901 by its co-founders Carl F Wallin and John W Nordstrom. The company is one of the largest upscale department stores in the United States. Some of its competitors are
- Von Maur, Inc
- The Gap Inc
- Saks & Company
- Macy’s Inc
- J Crew Group, Inc
- Donna Karan International Inc
- Dillard’s Inc
- Calories, Inc
- Brooks Brothers, Incorporated
- ANN Inc
- Mercuries & Associates
- Home Retail Group
- JC Penny
- Type: Luxury department store chain
- Industry: Retail
- Founded: 1901
- Founder: John W. Nordstrom
- Headquarters: Seattle, Washington, United States
- Area served: United States and Canada
- Key people: Erik B. Nordstrom, (CEO) and Jamie Nordstrom (President)
- Number of employees: 95,000 employees worldwide.
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Product in the Marketing mix of Nordstrom
Nordstrom started its operations as a shoe retailer and with time expanded its product portfolio to include apparels, accessories, home and wedding furnishings. The company has also opened in-house expresso bars and restaurants. The product kit of Nordstrom includes
- Makeup – Primer, powder, nail care, setting spray, mascara, lipstick, lip liner, and gloss, highlighting, foundation, eyeshadow, eyeliner, eyebrow, concealer, brushes and tools, bronzer and blush.
- Skin Care – Toners, sunscreens, serums, makeup remover, face moisturizers, essences, face mists, face mask, eye creams, peels, exfoliators, and
- Hair Care – Shampoo, conditioner, hair styling products, hair dryer, hair and scalp treatment
- Fragrances – Rollerball and travel size, perfume, diffusers, and
- Luggage and Travel
- Electronics and Tech Accessories – Smart home, speakers and home audio
- Tabletop and Kitchen – Small appliances, serveware, utensils, and dinnerware
- Home Décor – Rugs, pillows, picture frames, lamps and lighting, desk accessories and stationery, decorative accents, candles, and mirrors.
- Bath – Towels, mats, rugs, and bath accessories
- Bedding – Sheets, duvet covers, decorative pillows, comforters, quilts, throws, blankets, luxury sets and bedding sets
Women, and Men
- Apparel – Tops, activewear, swimwear, Denim, hosiery, shapewear, sweatshirts, tops, hoodies, sweaters, robes, sleepwear, skirt, shorts, pants, leggings, jumpsuits, rompers, dresses, underwear, socks, tank tops, t-shirts, suits, polo shirts, pajamas, jeans, jackets, coats and blazers
- Footwear – Narrow shoes, wide shoes, athletic, sneakers, slippers, sandals, oxfords, flip-flops, slip-on, loafers, dress shoes, comfort, boots, wedges, sandals, mules, slides, heels, flats, and booties.
- Handbags – Wallets, totes, shoulder bags, satchels, nylon bags, hobo bags, designer handbags, pouches and clutches, bucket bags, belt bags, beach bags, and backpacks.
- Accessories and Jewelry – Sunglasses, wraps, scarves, phone cases and tech, reading and optical glasses, luggage and travel, hats, hair accessories, belts, watches, rings, necklaces, fine jewelry, earrings, bracelets, travel kits and tools, beard and shaving care products, cologne, ties and pocket squares, cuff links, suspenders, and audio accessories.
- Girls – Footwear includes sneakers, athletic, sandals, and flip-flops, swimsuits, dresses, cover-ups, jackets and coats, accessories, and tween.
- Boys – Footwear includes sneakers, athletic, flip-flops, and sandals, swim trunks, suits, separates, jackets and coats, tween and accessories.
- Baby- Apparel, accessories, shower gifts, walker, walker shoes, strollers, nursery and décor, high chairs, feeding, diaper bags, car seats, blankets, health products, bath products and baby carriers.
Place in the Marketing mix of Nordstrom
Nordstrom has spread its presence to forty states in United States, Canada, and Puerto Rico. It operates via three hundred and seventy stores of which the full-line stores account for one hundred and twenty-three. It also includes two each of clearance stores and Jeffrey boutiques, five Trunk Club clubhouses and two hundred and fifteen stores of Nordstrom Rack. The company serves its customers online via HauteLook, its private online sale site and its websites nordstromrack.com and Nordstrom.com.
This department store chain has its headquarters based at Seattle in Washington. Nordstrom.com has contact and fulfillment centers at Iowa and Washington. Its distribution centers are at Florida, Maryland, Iowa, Oregon, and California. Its main stores are located at Washington, Texas, Florida and California.
Retail stores of Nordstrom have a nice ambiance and are located in places with high footfall. It has recruited knowledgeable and helpful staff that ensures top service so that the customers come back again and again. For overseas shipping, the company employs several middlemen. Nordstrom has launched apps for Android and Apple phones from where it is easy to browse and purchase products.
Price in the Marketing mix of Nordstrom
By the end of the fiscal year 2015, Nordstrom posted its revenues and net income at 14.437 billion US Dollars and 600 million US Dollars respectively. The company has targeted upper and upper-middle class households who visit department stores for their purchase. It has positioned itself as an upscale outlet chain that offers a wide range of products.
Nordstrom offers both premium and mid-range products to widen its customer base. Its products are of good quality and are appreciated by the consumer. It also faces stiff competition from rival companies. All these factors have helped the company in adopting a competitive pricing policy that is reasonable and affordable.
Moreover, the prices are at par with products launched by rival brands. Nordstrom has adopted a promotional pricing policy and under it offers incentives, discounts, and sales to widen and retain its customer loyalty. This results in bulk sales and ultimately larger revenues and greater profits.
Promotions in the Marketing mix of Nordstrom
Nordstrom has a strong marketing plan to create brand awareness in the consumer market. It advertises via newspapers, billboards, and leaflets. The company has a very active presence via social media on Twitter, Facebook, official website, YouTube, Pinterest and Instagram platform where the company promotes its brand whole-heartedly. It takes special care to answer all the tweets and post monthly newsletter.
Nordstrom offers Nordstrom customer cards under its loyalty program called Nordstrom Rewards, where one can earn points by purchasing goods at its stores. These points can be redeemed on further purchases. The rewards program has four status levels depending on annual spending. As part of its promotional policy, the company organizes six sale events every year. It also offers gift card subscriptions to its customers.
Nordstrom has been the recipients of several recognitions and awards. In the year 2008 and 2009, it was at 36 and 72 positions respectively in 100 Best Companies to Work For in Fortune’s Magazine. In the year 2013, it was hailed as Top Fashion Retailer by Women’s Wear Daily, a fashion magazine.
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