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Nordstrom SWOT Analysis 2021
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Edited at 2020-09-08 01:10:57- Pre-Scientific Psychology
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Nordstrom SWOT Analysis 2021
- Pre-Scientific Psychology
A simplified mind map about the psychology in pre-scientific stage. Pre-scientific psychology refers to the early philosophical and theoretical explorations of the human mind and behavior that laid the foundation for the development of modern psychology. You can easily create your own mind map like this this with EdrawMind.
- Wholesaling Lease Options Joe McCall
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Nordstrom SWOT Analysis (2020)
https://bstrategyhub.com/nordstrom-swot-analysis/
Background
Basic Info
CEO
Erik Nordstrom and Pete Nordstrom
Year founded
1901 (as Wallin & Nordstrom), 1971 (Nordstrom Inc.)
Headquarter
Seattle, Washington
Number of Employees (2018)
74,000
Products & Services
Shoes | Clothing | Accessories | Home Goods | Gifts | Jewelry | Beauty | Restaurant | Espresso Bar | Home Furnishings | Design | Spa | Stylist | Alternation & Tailoring | Nordy Club
Competitors
JC Penny | Macy’s | Ross Stores Inc. | Kohl’s | Neiman Marcus | TJ Maxx | Saks | Bloomingdale | Darlington | Dillard’s | Hudson Bay | Home Retail Group | Mercuries & Associates | Amazon
Fun Fact
Even though the department bears the name of John Nordstrom, he wasn’t enthusiastic about the business of selling shoes and only co-founded the shoe store because of Carl Wallin had plenty of expertise and experience in the business.
Strengths – Internal Strategic Factors
Diversified Portfolio
Exclusive Brands and Luxury Designer Merchandise
Strong Strategic Partnership
Strong Growth and Financial Position
Excellent Customer Service
Great Return Policy
A leader in Innovative Customer Experience
Competitive Fulfilment Options
High Ecommerce Penetration
Effective BOPIS Strategy
Nordy Club Membership Program
Strong Corporate Responsibility
Weaknesses – Internal Strategic Factors
Highly Expensive Merchandise
Limited Global Presence
Lack of Diversification
Expensive and Risky Investments
Brand Dilution
Opportunities – External Strategic Factors
Exploit Ecommerce
Attract Younger Customers
Expand into Emerging Markets
Grow through Acquisition
Diversify Portfolio
Threats – External Strategic Factors
Retail Apocalypse
Strong Competition
E-commerce Giant – Amazon
Rental Clothing Subscription & Resale of Luxury Items
Rental subscription service
Online social marketplace for luxury items
Counterfeit Products
Economic Recession
Corona Virus Outbreak