Business presentation: Nordstrom

Business presentation: Nordstrom

Quick presentation of the company ( select only essential information)

Nordstrom, a long-standing luxury department store, has been a significant presence in retail since its establishment in 1901. It started as a shoe store and later expanded to offer a wide range of products, including clothing, cosmetics, jewelry, and more.

Based in Seattle, Nordstrom is a key player in the luxury department store sector. It made its debut on the Canadian market in 2014, with the opening of its first store in Calgary. This opening marked the beginning of Nordstrom's adventure in Canada.

However, in recent years, Nordstrom faced significant challenges in the retail landscape. The impact of the COVID-19 pandemic reshaped shopping patterns, leading to a shift in consumer transactions towards e-commerce.

The closure of its 13 stores can be explained by various market-specific factors such as competitors / bad adaptation to the market and advertisement.

This combination of factors highlights the importance of understanding the unique preferences and expectations of local consumer markets when expanding internationally.

A thorough analysis of the issue you have chosen to study, using theoretical elements and practical remarks.

Growth strategy :

⇒ Implementing nex stores in canada.

Competitive market force

The luxury retailer sector is highly competitive.

In canada, nordstrom had to confront big competitors ( Kohl’s / Macy’s/ Hudson Bay’s )

⇒Failure to adapt to canadian’s market.

Price positioning / strategy.

Nordstrom hasn't adapted to the canadian’s market that prefers a more radical price positioning ( either high price retailer or low price retailer : but at Nordstrom you can find both affordable and expensive products).

⇒ Adverstsment issue ?

Canadian consumers were unfamiliar with Nordstrom’s offereng.

How to attract new consumers when the target consumers don’t know the offering?

source :

https://www.linkedin.com/pulse/nordstroms-failure-canada-lessons-retailers-changing-market/#:~:text=A%20major%20contributing%20factor%20to,adapt%20to%20the%20Canadian%20market.

https://retail-insider.com/retail-insider/2023/03/why-nordstrom-failed-in-canada-interview-with-lisa-hutcheson-of-j-c-williams-group/

https://www.forbes.com/sites/walterloeb/2023/03/06/why-nordstrom-closes-canadian-stores-by-next-june--reports-q4-results/

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