Nordstrom Essay

The economic crisis that started in 2007 affected the business of upscale department stores countrywide. Upscale department stores understand that the items they sell be considered discretional items, so when there is an economic downturn, they argon one of the first industries to be hit. When looking over the Nordstrom Annual Reports from the last few years, there are two things evident this company has a lasting strategy and they put to work hard to continuously evolve this strategy.Their strategy includes constantly evaluating risks in the merchandise such as economic conditions, competitive market forces, availability of merchandise, and growth. With an incredulous sense to stay ahead of the trends, minimize turnover time, and serve their clients with an transcendental ability, they have easily become one of the top department stores in the country. Nordstroms core strength revolves around their customer-first attitude, customer loyalty and their aptitude for merchandising . Going forward we want to be more than just customer focused. Instead, were working to become a truly customer-driven organization. 1One direction Nordstrom is working to become more customer-driven is by building upon their multi-channel system. This multi-channel network, known as Nordstrom Direct, is made up of their online site, and catalog. Over the past three years, Nordstrom has made heavy(p) strides to pick up that they are fulfilling the needs and desires of all customers. We believe online and ecommerce represent our beside big opportunities.Within two years more customers will adit the Internet via their phone than their computers. Were responding2 All of the effort put into the advance of the system is showing clear results in the financials. The economic recession was tangle all over the U. S. including Nordstrom, how of all time they were able to experience an 8. 4% growth in Nordstrom Direct gross revenue during the 2008 fiscal year. 3 Along with improving No rdstrom Direct, an coarse amount of effort is being devoted to both the full-line stores and the Nordstrom Rack.Not however has the number of stores expanded over the last few years with a growth of sixteen new stores in 2009 and twenty in 2010, they are capitalizing on their merchandising. Nordstrom takes immense pride in their buyers and the work that these buyers have through over the last few years at the core of the company. They ensure that they are maximizing merchandise flexibility to maintain trends and to evolve with the customers and their ever-changing wants. Merchandise is now as current as its ever been, and there is a steady, fresh flow of fashion in and unwrap of the store with a quick turnover system that has been set in place.Customer loyalty is one of the top ways Nordstrom keeps their customers coming back. The kindred with a Nordstrom employee and the customer is a two-way street. The company makes their priorities known and their customers are loyal to them because of it, responding in a very positive way to the work provided. Employees pride themselves on their relationships with customers and ability to provide them with an enjoyable shopping experience. Nordstrom was lucky to maintain themselves as a company through the 2008 crisis, with a uttermost decline of 12. % in sales and a quick rebound.By 2010 they had change magnitude in-store sales by 8. 1% and set a record-breaking sales number at $9. 31 billion. The right(a) strategy and actions performed in the right circumstances will produce growth, and this is what Nordstrom continues to experience with their customer service strategies. We purpose to keep a steady focus on our customers. We follow, first and foremost, a customer strategy at Nordstrom not a price, brand, technology or any other corporate strategy.