Nordstrom SWOT Analysis 2021

Nordstrom SWOT Analysis (2020)https://bstrategyhub.com/nordstrom-swot-analysis/BackgroundBasic InfoCEOErik Nordstrom and Pete NordstromYear founded1901 (as Wallin & Nordstrom), 1971 (Nordstrom Inc.)HeadquarterSeattle, WashingtonNumber of Employees (2018)74,000Strengths – Internal Strategic FactorsWeaknesses – Internal Strategic FactorsOpportunities – External Strategic FactorsThreats – External Strategic FactorsProducts & ServicesShoes | Clothing | Accessories | Home Goods | Gifts | Jewelry | Beauty | Restaurant | Espresso Bar | Home Furnishings | Design | Spa | Stylist | Alternation & Tailoring | Nordy ClubCompetitorsFun FactEven 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.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 | AmazonDiversified PortfolioExclusive Brands and Luxury Designer MerchandiseStrong Strategic PartnershipStrong Growth and Financial PositionExcellent Customer ServiceGreat Return PolicyA leader in Innovative Customer ExperienceCompetitive Fulfilment OptionsHigh Ecommerce PenetrationEffective BOPIS StrategyNordy Club Membership ProgramStrong Corporate ResponsibilityHighly Expensive MerchandiseLimited Global PresenceLack of DiversificationExpensive and Risky InvestmentsBrand DilutionExploit EcommerceAttract Younger CustomersExpand into Emerging MarketsGrow through AcquisitionDiversify PortfolioRetail ApocalypseStrong CompetitionE-commerce Giant – AmazonRental Clothing Subscription & Resale of Luxury ItemsRental subscription serviceOnline social marketplace for luxury itemsCounterfeit ProductsEconomic RecessionCorona Virus Outbreak
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