Mind Map Gallery Nordstrom SWOT Analysis 2021
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Nordstrom SWOT Analysis 2021
A mind map about nordstrom swot analysis 2021.
Edited at 2020-09-08 01:10:57
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- Outline
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