Nordstrom's Retail Positioning Strategy

Nordstrom's Retail Positioning Strategy
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Nordstrom's Retail Positioning Strategy
Companies are increasingly becoming innovative in order to stay afloat in the competitive business environment. Retail stores are particularly critical when it comes to capitalizing on the clientele and satisfying their needs. Various companies are employing multiple methods of differentiating themselves from competitors in order to capture wider target markets. Nordstrom’s, for instance, has excelled in differentiating itself amidst other competitors, and emerging as a market leader in terms of the types and quality products sold, customer engagement policies and the store design in order to guarantee more sales and success of the company. Nordstrom has identified and implemented different vital positioning strategies that have helped the company to increase its sales, revenues, and also increase value derived by clients.
Nordstrom is notably very critical about consistency, constructively applying similar in-store approach in the United States stores, as well as in Canada, its regional market. For instance, Sturgeon (2015) notes that Nordstrom has replicated its approach in the US states market providing a mix in the products offered, and improved client experience. The strategic move also incorporates consistency in planning across all the company stores. Such a strategy ensures that royal clients can access the company’s products uniformly and at the same prices throughout the stores where Nordstrom operates. Such a strategy serves to avert possible collapse such as the case with Target. Target, for instance, received criticisms in their Canadian stores with clients and the industry at large accusing them of delivering varying similar products as with the US stores but at higher prices (Sturgeon, 2015). With consistency in service offering and pricing, Nordstrom is set to be remain a favorite many throughout its target markets.
A significant positioning strategy of Nordstrom is the target market adopted by the company. Nordstrom specializes in high-end luxury products creating a niche in a market environment that it seeks to fill. The company focuses on the affluent clientele that is keen on buying affordable luxury (Hill Jones & Schillin, 2014). As a leading fashion retailer, Nordstrom offers various high-end products including shoes, clothing, as well as other accessories meant for men, men and children (Nordstrom, n.d.a). A large growing clientele for Nordstrom has been the young people whose appetite for top-notch products is in the rise. To cater for the growing demand of affordable luxury products, Nordstrom offers customized designer collections of various products, including designer clothing, designer wallets and handbags, and designer shoes (Nordstrom n.d.b). Creating and maintaining a niche in the target marker is a critical move for the public of Nordstrom.
Another important differentiator of Nordstrom from its competitors is the outstanding customer experience and customer service skills that the company posses. Solomon (2016) asserts that Nordstrom has become synonymous with superior and outstanding customer service skills since the company’s incept...