Who Are Nordstrom's Competitors

Nordstrom is a retailer that has continued to generate revenue and grow its business in light of recent trends that have shifted consumer shopping into the digital domain. Not only does Nordstrom carry brand recognition, but their customer experience design is uniquely their own. By defining their target market and differentiating themselves from competitors who also want to serve those markets, Nordstrom makes decisions that are consistent with their overall position strategy. These choices include Nordstrom's product mix, product availability, price, store design, customer service, and store location. The choices Nordstrom makes in these key areas directly serves their efforts in distinguishing themselves from other retailers and attracting

This is due to their retail positioning strategies that include their unique product mix, as well as the breadth and depth of products offered in each store. Moreover, Nordstrom's specific product range includes high-end brands that are associated with prestige and luxury. As a result, some of these products are not available elsewhere. For example, the Olivia Burton products at Nordstrom are a range of high-end watches that are only available at Nordstrom. In addition to that, Globe Trotter launches new lines only available inside Nordstrom. Nevertheless, this directly helps to attract customers, because certain products or brands are only sold at Nordstrom. More importantly, Nordstrom attracts wealthier clients by promoting their image of having expensive products that do not sacrifice quality. As a luxury brand, Nordstrom chooses to stock high-end products, because the other retailers that they compete with do not have the finances to do so. By offering an elite product range, they can attract new customers who will buy their products from them, because few other stores offer them. Therefore, the Nordstrom experience is special to customers and worth the premium