Nordstrom could continue to provide exceptional customer services in the following ways:
– The company should continue to provide high end products to the customers. This would help to increase the customers brand loyalty.
– The company should undergo to use of more sustainable and eco-friendly materials as well as recycling the materials. It would decrease the cost associated with product and also prevent environmental hazards.
– The company could go for innovating it product portfolio, which provide wide range of products and services to attract more customers.
– The company should stick to the buy-back services that is provided to its customers.
– The company should provide training and development programs to its employees in order to make good relations with the customers.
– The company should critically analyse the customers’ needs and wants in order to develop better products and hence maximize profits.
– The company should also create brand awareness in order to generate larger customer base.
Nordstrom being an elite class brand possesses plenty of risks which are mentioned below:
– Being innovative every time as the elite class customers usually have dynamic taste.
– Offering discounts may reduce profits.
– It offers a little advertisement which limits the number of customers.
– Not everyone can buy products at a high price like Nordstrom
– It is very difficult to handle the rich customers.
The following Biggest competitors of Nordstrom are:
– Local boutiques
– Cheaper fashion outlets.
Hope you get your answer.
Thanks. Make sure you hit like.