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Nordstrom's Business model

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by

Matt Guerra

on 30 June 2015

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Transcript of Nordstrom's Business model

Nordstrom's Business Model Under The Ice
Nordstrom
Nordstrom's Business Segments
Two reportable segments: Retail and Credit
Real Estate
CALIFORNIA!
Customer Relationship
First thing to your mind when someone says Nordstrom? Of course Customer service. BAIT.
AND the cafe Bistro or ebar. It's so nice of Nordstrom to have all these things here when I shop.
Follow the money
Biggest Revenue
Women's apparel + Shoes + Women's Accessories + Cosmetics = 78% Net Sales!
Employment and Culture


Nordstrom's famous Employee Handbook

We’re glad to have you with our Company. Our number one goal is to provide outstanding customer service. Set both your personal and professional goals high. We have great confidence in your ability to achieve them.

Nordstrom Rules: Rule #1: Use best judgment in all situations. There will be no additional rules.

Please feel free to ask your department manager, store manager, or division general manager any question at any time.

Biggest Cost
Biggest ROI: Bought Vendors
Control the source, control the price,
Higher margins
Recently Bought E-Vendors include: Bonobos, HauteLook, and Etsy
But sell sell sell because you get commission and if something is returned, it comes out of your commission.
...so they can keep you there to keep shopping...
And what ever items that we don't sell goes to....
Initial Product?
Then...
"Come for the Customer Service and stay for the higher margin items we have from vendors that we own." Perhaps their loss leader is all those other assortment of vendors that they don't own i.e. Coach, Louis Vuitton, etc. etc. And then buy all of our brand names with awesome margins!
What's your point?!?!?!!
Brand
A consistent experience of excellent Customer Service
NOPE!!!!
Women's Apparel!!!!!
AND SHOES!!!!!!!!!
But that is really just "Nordstrom Rack" stuff ..

Another brand for a different segment of the market as not to interrupt the regular "Nordstrom" brand name.
Nordstroms
You
So after my hopefully informative presentation, what does Nordstrom's Business Model look like now?
Full transcript