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- 2. Sofia Beck Ethan Engh Kate Flynn Marian Hawit Jadyn Simatos MEET THE TEAM!
- 4. Brand Identity Customer Profiles Title Slide, Meet the Team, Video, Table of Contents Nordstrom's Competitors Mission Statement Nordstrom's signature look TABLE OF CONTENTS Size and Scope Nordstrom's stores Merchandising Venues Yearly Sales Market and Curation SWOT Analysis Trends Store Plans Emerging Designer Plans 8 5 1 16 32 37 53 6 Month Buying Plan 69 Statement of Opportunity 95
- 5. NORDSTROM'S MISSION "To continue our dedication to providing a unique range of products, exceptional customer service, and great experiences."
- 7. "Success would only come from offering customers the very best service, selection, quality, and value.” - John W. Nordstrom
- 9. S u p p l y C h a i n N o r d s t r o m N o r d s t r o m R a c k T o t a l S t o r e s 400 300 200 100 0 NORDSTROM STORES 358 total stores across the United States.
- 10. MERCHANDISING VENUES Nordstrom Local Ecommerce Nordstrom Nordstrom Rack
- 11. SALES 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 20,000 15,000 10,000 5,000 0 Net sales of Nordstrom worldwide from 2011 to 2020 Net sales in million U.S. dollars
- 12. NORDSTROM MARKET Founded in 1901 as a shoe retailer, Nordstrom has since worked their way into nearly every realm of leisure With a primary focus in luxury goods, there is a curation of many different brands and a wide range of products suiting different lifestyles and budgets. Fashion, beauty and fragrance, and home are Nordstrom's main focus, and with constantly updated product selections customers are sure to find something new.
- 13. CURATION Nordstrom is well known for the unique brands they bring into the store, TopShop kiosks, Levi's pop up shops, and soon introducing ASOS are just some of the retail tactics to bring in new budgets, ages, and audiences. Having a web page for Black Owned companies, a new focus on sustainability, and celebrating cultures is something Nordstrom does well.
- 14. PRODUCT CATEGORIES Women's, Men's, & Kids Luxury & Designer Shoes Accessories Active wear Intimate apparel Beauty & Fragrance Furniture & Home
- 15. NORDSTROM SPACE FOR NEW AND EMERGING DESIGNERS
- 17. Male 35 years old Single, no children Lives in Chicago, Illinois VALS Profile Type: Achiever Demographics MEET MATT
- 18. MEET MATT Communications & Business Degree from Brown Senior Car Salesman at Luxury Car Selection $100,000 per year Simple studio apartment
- 19. MEET MATT career-driven, energetic, hardworking enjoys test driving luxury cars watches sports games to relax subscribes to Luxury Auto Direct Magazine attends luxury car shows goes to the gym meets friends for drinks at the bar loves the Marvel franchise Psychographics
- 20. MEET ANNA Female 55 years old Divorced, 4 Adult Children Lives in Long Island, New York VALS Profile Type: Achiever Demographics
- 21. MEET ANNA Interior Design Degree and Journalism Minor from Georgetown Editor for House Beautiful Magazine $95,000 per year Luxurious 6- bedroom waterfront home
- 22. MEET ANNA creative, open-minded, career-driven enjoys gardening with her grandchilren decorates houses in spare time true to her style animal lover values honesty, hard work, and compassion attends wine night with friends goes to her local gardening club every week Psychographics
- 23. MEET CHRISTINE Female 11 years old Lives in Dallas, Texas VALS Profile Type: Achiever Demographics
- 24. Student 5th Grade Dependent on double income household $210,000 year Lives with family: 2 brothers, 3 sisters MEET CHRISTINE
- 25. respectful, bright, dedicated enjoys playing soccer watches the women's national soccer team loves making tiktoks and playing dressup watches and follows Daya Daily beauty tutorials attends weekly sleepovers with friends aspires to be a famous cosmetologist and a professional soccer player Psychographics MEET CHRISTINE
- 26. MEET JANE Female 32 years old Married, no children yet Lives in the Upper West Side New York City VALS Profile Type: Innovator Demographics
- 27. MEET JANE Journalism Degree from NYU Senior Copywriter at Condé Nast Traveler $81,000 per year Spacious 2 bedroom apartment
- 28. MEET JANE passionate, career-driven, family-oriented enjoys being able to make her own money loves fashion, especially designer shoes follows Vogue religiously animal lover does yoga and pilates attends a weekly book club with friends enjoys date nights with her husband Psychographics
- 29. MEET ALESSIA Female 21 years old Single Born in Lima, Peru Lives in Savannah, GA Attends Savannah College of Art & Design No children VALS Profile Type: Believer Demographics
- 30. Student - Junior Works part time as a SCAD Tutor Parents currently pay for her living Middle class family Rents apartment with two roommates MEET ALESSIA
- 31. dedicated to her studies responsible and passionate loves to exercise around Forsyth loves going out with friends follows emerging brands follows fashion influencers loves thrift shopping aspiring celebrity stylist Psychographics MEET ALESSIA
- 33. THE WEBSTER Miami based, but now with 7 flagship stores around the country. Hundreds of designers well know and small to choose from Founded on the idea that they want their shop to feel welcoming, and like you're in the world's best closet
- 34. DOVER ST. MARKET Founded by Rei Kawakubo, there are seven Dover Street Markets globally Curation of luxury and high end fashions, with a focus on streetwear. Very unique perspective and aesthetic for a luxury store, often inviting artists to display and/or sell their work at many locations Constantly alternating products
- 35. WOLF & BADGER London Based with flagship stores at Kings Cross and in SoHo Partnered with Bottica to create a 'powerhouse for independent designers' with a strong focus on jewelry Huge emphasis on the environment, making sure that all designers and products they sell are eco conscious and sustainable without lacking quality
- 36. SSENSE A primarily e-commerce shop with one location in Montreal Focus on high end pieces, with out the snobbiness associated with Luxury Extremely large selection of designers, price ranges, and products, very much with a focus on emerging artists. Have a focus on art, selling unique pieces and furniture on their website
- 37. SWOT ANALYSIS
- 38. Strengths Nordstrom’s portfolio includes Nordstrom Rack (discount stores), Trunk Club (subscription box service). It allows the company to address different shopping needs. They offer an innovative product mix and a non-traditional department store approach to curating merchandise. Diversified Portfolio
- 39. Superb Customer Service: Nordstrom Local Strengths Superb Customer Service via Nordstrom Local Nordstrom's core values are based around excellent customer service, and the new Nordstrom local concepts allow customers to pickup orders, place returns, and do express alterations.
- 40. Great Return Policy Strengths Nordstrom has an amazing customer returns policy, which gives the customer security when purchasing Nordstrom merchandise. If they dislike their item, they know they can return it anytime, no questions asked.
- 41. Destigmatization of Department Stores Strengths Nordstrom is constantly offering their clientele innovation: from collaborations, to pop-up shops, they have managed to leverage their strength and scope and diversify their product array.
- 42. High E-commerce Presence Strengths In department store sales, Nordstrom is second in e-commerce sales only beaten by Neiman Marcus. Currently, $4.7 Billion (30% of its total $15.9 B revenue) comes from digital sales.
- 43. Nordy Club Membership Program Strengths Nordstrom’s customer loyalty/ reward program allows customers to earn points, & access exclusive deals. The program has over 13 Million members (2019). These members generated about 2/3 of the annual revenue. Nordstrom can create a lock-in situation with its members.
- 44. Strong Corporate Responsibility Strengths Nordstrom supports the communities where it does business by donating millions of dollars to hundreds of NGOs in the U.S., Canada, and Puerto Rico. Apart from supporting Good+Foundation, Nordstrom pledged $5 million as investments and community grants within New York City by the end of 2020.
- 45. Expensive and Risky Investments Weaknesses Nordstrom recently opened their NYC Flagship store to which around $500 million were invested. This store opened in 2019 and later had to face the retail decline of 2020 due to the pandemic. This of course, was a highly risky investment that was incredibly expensive.
- 46. Limited Global Presence Weaknesses Limited Global Presence Currently, Nordstrom only physically operates in the United States and Canada. Although they ship basically to all countries in the world, this mainly confines their sales to be directed towards North and Central America mainly. They are missing out on the rest of the world.
- 47. Become an Incubator of New Talent Opportunities With SPACE, Nordstrom has the potential to become a business that constantly seeks to discover new talent with emerging designers and ones that encourage outside-the-box thinking in terms of retail and fashion.
- 48. E-commerce Expansion Opportunities More and more customers are shopping online. Nordstrom can focus on expanding its e- commerce platforms and increase online sales even further by offering innovative online experiences using virtual reality try-ons.
- 49. Attract Younger Customers Opportunities With SPACE, Nordstrom has the opportunity to expand its customer base by adapting strategies to effectively targeting younger customers with iconic youthful brands. According to Nordstrom, its average purchaser age is 42 years, and young customers (18 –34 years) constitute only about 36 % of its customer base.
- 50. Incorporation of Luxury Resale Space Opportunities We believe Nordstrom has the potential to incorporate a space for pre loved luxury items. This will not only create a greater sense of security for the customer when purchasing new luxury items, but it is also a step in the right direction towards sustainability.
- 51. Current Pandemic Threats The ongoing pandemic has caused a significant decline in travel and in-person experiences. Many people have reduced their travel plans causing many stores throughout the country to become less visited. The threat of contact due to the virus has also caused less and less people to go out to shop physically.
- 52. Global Supply Chain Delays Threats There is a current global supply chain crisis, which is a direct result of COVID-19 disruptions as well as a large increase in demand. Shortages of workers, equipment, shipping delays, and space have only made the issue worse.
- 53. TRENDS
- 54. Open airy knits made from light and large yarns will be on everyone's minds and in everyone's closets in S/S 22. WOMEN'S KNIT AND JERSEY
- 55. This retro recall of 70s and 80s boho chic will be a top contender in the fashion world for consumers coming up. WOMEN'S LOVEWORN TRAIL
- 56. ETHEREAL SHEER Lightweight sheers with ombre and subtle patterns are layered to create an ethereal effect. NO.21 Emilio Pucci 16Arlington Acne Studios
- 57. PLAYFUL FUNCTIONALITY Technical activewear and fashion blend together to create functional statement pieces. Stella McCartney Marrine Serre Copenhagen FW Tod's
- 58. OPULENT DRESS UP Ultra-sensory textures and colors come together as an explosive take on post-pandemic fashion. David Koma Balenciaga Valentino Christian Siriano
- 59. LIFESTYLE TRENDS
- 60. Focusing on what is good for the environment and how it affects the enviornment. SUSTAINABILITY
- 61. Clothing is a top priority for Gen-Z consumers allowing them to have an outfit for everything. CLOTHING PRIORITIES
- 62. Leaders like TikTok, Snapchat, and Instagram add another method to shop. SOCIAL MEDIA
- 63. 62% of Gen-Z sell or re-sell clothing and 51% of Gen-Z buy secondhand clothing. Mix of high and low spending. BUYING PATTERNS
- 65. Fibrous layer inside the stem of plants. Essential role as the regenerative farming movement takes place. BAST FIBERS
- 66. Methods such as bioplastic, recycled plastic, compostable/biodegradable, paper packaging, and low-impact plastic hangers . APPAREL PACKAGING
- 67. Nordstrom and Nordstrom Rack each have an app. E-COMMERCE APPS
- 68. Make easy 4 easy payments every 2 weeks through Klarna. BUY NOW, PAY LATER
- 72. LOS ANGELES - THE GROVE STORE PLAN
- 75. Los Angeles, The Grove $ % AMINA MUADDI New York, New York Flagship $ % SPACE Planned Purchases $ % Shoes Accessories Totals $224,233.08 $39,570.54 Shoes Accessories Totals 85.00% 15.00% 100.00% $263,803.62 $212,007.00 $37,413.00 $249,420.00 85.00% 15.00% 100.00% Shoes Accessories Totals $16,047,473.00 $2,831,907.00 $18,879,380.00 85.00% 15.00% 100.00%
- 77. Los Angeles, The Grove $ % MINJU KIM New York, New York Flagship $ % SPACE Planned Purchases $ % Tops Bottoms Dresses Totals Tops Bottoms Outerwear Dresses Totals $41,570.00. 25.00% $33,256.00. 20.00% $49,884.00. 30.00% $41,570.00. 25.00% $166,280.00. 100.00% Tops Bottoms Dresses Outerwear Total $55,398.76 35.00% $31,656.43 20.00% $71,226.98 45.00% $158,282.17 100.00% $1,815,325.00 $1,452,260.00 $2,541,455.00 $1,452,260.00 $7,261,300.00 25% 20% 35% 20% 100%
- 79. Los Angeles, The Grove New York, New York Flagship Tops Shoes Bottoms Other Totals $ % $ % $79,141.09 $79,141.09 $79,141.09 $$395,705.43 $166,280.00 $166,280.00 $166,280.00 $124,710.00 $831,400.00 20.00% 20.00% 20.00% 20.00% 100.00% 20.00% 20.00% 20.00% 15.00% 100.00% SPACE Planned Purchases $ % $7,261,300.00 $3,630,650.00 $7,261,300.00 $3,630,650.00 $36,306,500.00 20.00% 10.00% 20.00% 10.00% 100.00% $79,141.09 20.00% $79,141.09 Dresses $207,850.00 25.00% $14,522,600.00 40.00% THE ATTICO Tops Shoes Bottoms Other Totals Dresses Tops Shoes Bottoms Other Totals Dresses
- 81. A. ROEGE HOVE Los Angeles, The Grove New York, New York Flagship Sleeveless Tops Long Sleeve Tops Skirts Pants Totals $ % $ % $131,901.81 $44,846.62 $36,932.51 $50,122.69 $263,803.62 $67,343.40 $87,297.00 $39,907.20 $54,872.40 $249,420.00 50.00% 17.00% 14.00% 19.00% 100.00% 27.00% 35.00% 16.00% 22.00% 100.00% SPACE Planned Purchases $ % $2,904,520.00 $1,452,260.00 $1,815,325.00 $1,089,195.00 $7,261,300.00 40.00% 20.00% 25.00% 15.00% 100.00% Sleeveless Tops Long Sleeve Tops Skirts Pants Totals Sleeveless Tops Long Sleeve Tops Skirts Pants Totals
- 83. RUVE KNITS Los Angeles, The Grove New York, New York Flagship Tops Bottoms Dresses Jeans Totals Tops Bottoms Dresses Jeans Totals $ % $ % $83,098.14 $36,932.51 $36,932.51 $27,699.38 $184,662.53 $72,747.50 $58,198.00 $87,297.00 $72,747.50 $290,990.00 45.00% 20.00% 20.00% 15.00% 100.00% 25.00% 20.00% 30.00% 25.00% 100.00% SPACE Planned Purchases Tops Bottoms Dresses Jeans Totals $ % $254,145,500 $203,316,400 $304,974,600 $254,145,500 $10,165,820.00 25.00% 20.00% 30.00% 25.00% 100.00%
- 85. THE ELDER STATESMAN Los Angeles, The Grove New York, New York Flagship Tops $ % $ % $39,570.54 $19,785.27 $26,380.36 $131,901.81 $62,355.00 $218,242.50 $124,710.00 $43,648.50 $623,550.00 12.00% 20.00% 15.00% 20.00% 100.00% 10.00% 35.00% 20.00% 7.00% 100.00% SPACE Planned Purchases Totals $ % $1,887,938.00 $3,775,876.00 $6,607,783.00 $1,321,556.60 $18,879,380.00 10.00% 20.00% 35.00% 7.00% 100.00% $30,337.42 23.00% $15,828.22 Outerwear $174,594.00 28.00% Tops Sweaters Bottoms Jumpsuits Outerwear $5,286,226.40 28.00% Totals Tops Sweaters Bottoms Jumpsuits Outerwear Totals Sweaters Bottoms Jumpsuits
- 87. BARRAGAN Los Angeles, The Grove New York, New York Flagship $ % $ % SPACE Planned Purchases $ % Tops Bottoms Shoes Belts/Bags Total Tops Bottoms Shoes Belts/Bags Total Tops Bottoms Shoes Belts/Bags Total 40% 30% 15% 15% 100% 40% 30% 15% 15% 100% 40% 30% 15% 15% 100% $2,904,520 $2,178,390 $1,089,195 $1,089,195 $7,261,300 $158,282.17 $118,711.63 $59,355.81 $59,355.81 $395,705.43 $66,512 $49,884 $24,942 $24,942 $166,280
- 89. TELFAR Los Angeles, The Grove New York, New York Flagship $ % $ % SPACE Planned Purchases $ % Bags Tops Bottoms Hats/Belts Jewelry Jackets Total Bags Tops Bottoms Hats/Belts Jewelry Jackets Total $ % 50% 9% 9% 12% 8% 12% 100% $415,700 $74,826 $74,826 $99,768 $66,512 $99,768 $831,400 $197,852.72 $43,527.60 $43,527.60 $47,484.65 $43,527.60 $19,785.27 $395,705.43 50% 11% 11% 12% 11% 5% 100% Bags Tops Bottoms Hats/Belts Jewelry Jackets Total 50% 10% 10% 12% 8% 10% 100% $8,713,560.00 $1,742,712.00 $1,742,712.00 $2,091,254.40 $1,394,169.60 $1,742,712.00 $17,427,120.00
- 91. ASHLEY WILLIAMS Los Angeles, The Grove New York, New York Flagship Tops Bottoms Dresses Acessories Totals $ % $ % $63,312.87 $94,969.30 $110,797.52 $47,484.65 $316,564.34 $135,102.50 $135,102.50 $108,082.00 $162,123.00 $540,410.00 20.00% 30.00% 35.00% 15.00% 100.00% 25.00% 25.00% 20.00% 30.00% 100.00% SPACE Planned Purchases $ % $1,815,325.00 $2,178,390.00 $1,815,300.00 $1,452,260.00 $7,261,300.00 25.00% 20.00% 30.00% 25.00% 100.00% Tops Bottoms Dresses Acessories Totals Tops Bottoms Dresses Acessories Totals
- 92. OTHER
- 93. OTHER Los Angeles, The Grove New York, New York Flagship Tops Bottoms Acsessories Jackets Dresses $ % $ % $32,975.45 $13,190.18 $26,380.36 $131,901.81 $62,355.00 $47,805.50 $31,177.50 $20,785.00 $207,850.00 30.00% 25.00% 10.00% 20.00% 100.00% 30.00% 23.00% 15.00% 10.00% 100.00% SPACE Planned Purchases $ % $4,356,780.00 $3,630,650.00 $1,307,034.00 $1,452,260.00 $14,522,600.00 30.00% 25.00% 9.00% 10.00% 100.00% Totals $19,785.27 15.00% $39,570.54 $45,727.00 22.00% $3,775,876.00 26.00% Tops Bottoms Acsessories Jackets Dresses Totals Tops Bottoms Acsessories Jackets Dresses Totals
- 94. ASSORTMENT PLANS
- 95. STATEMENT OF OPPORTUNITY We believe that Nordstrom has the opportunity to grow its client base with SPACE. Young consumers are looking to step out of the traditional "big box" shopping experience. They are looking for pieces that are exciting and unique and have a highly curated shopping experience. SPACE is Nordstrom's chance to empower emerging designers and appeal to younger consumers.