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Nordstrom Social Media Analysis

Nordstrom has a high economics of scope because they

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Unformatted text preview: gths are the fact that they have strong management, which leads to improved customer service. Customer service is Nordstrom’s number one goal, they want to give each and every customer a great experience, they believe that in order for them to evolve and grow as a company they have to put the customer first. They are strong when it comes to pricing power because they have a presence in the high fashion market as well as the lower priced value market with Nordstrom Rack. Nordstrom has a high economics of scope because they offer a wide variety of products and styles thus attracting more people to their brand. Some weaknesses of Nordstrom are that they are lacking in their research and development of new innovative ideas to attract customers. Nordstrom’s tax rate has been increasing year after year which is not good for their financial standing. (Nordstrom SWOT, 2013) There are some great opportunities in the industry that Nordstrom has and continues to take advantage of. Advancements in technology provide so many opportunities for the company. RFID technology has led to an increase in labor productivity and reduces error in supply chain. Improved security with TV cameras and source tagging helps the company with lost prevention. New services available such as e- commerce and online shopping are huge for any retailer because customers can virtually access and view products and purchase them rather then having to travel to an actual store. Some threats within the...
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