The retailer I choose that is doing omniretailing is Nordstrom. Nordstrom has in-person stores as well as an internet shopping website. Linking Nordstrom’s online and store businesses gives the customers the opportunity to shop where they want and of convenience to them. From my point of view, as being a frequent shopper at this store, I find Nordstrom’s multichannel strategy very effective. Some pros of doing a store retail channel is that customers can actually touch the products, they receive personal customer service, and immediate gratification after purchases. Pros of the internet channel is that there is a greater selection, Nordstrom can provide more information for products, and collect more information about shoppers. Drawbacks
Disadvantage: increase the expense of leasing and managing retail stores; widely distribution will produce more opportunity to competitive with competitors directly, for example, they are located in the same mall.
Nordstrom can continue providing their exceptional online experience and client focused approach using their online system by offering an unmatched online experience that copies their in-store customer service. This would allow Nordstrom to raise its revenue considerably as well as further improving their brand image. I will also discuss specific ways of successful execution, and the steps required to provide Nordstrom a stunning picture of how to execute strategy.
A common household name, Nordstroms is known all over the world but their empire is mainly located in America. A sophisticated department store, this well known chain was started over a century ago in a tiny shoe store. Throughout the years this company was passed down through the generations and has evolved into the modern and fashionable company we know it as today.
The growing popularity of online retailing is attracting competition from traditional and online multi-retailers such as Wal-Mart and Amazon which are gaining considerable market shares in many of the product segments included in the specialty retail sector.
Milestone Three consists of the following: identifying your market segment, targeting that segment, managing the CRM, and identifying new product development opportunities
Nordstrom’s retail positioning strategy provides it with the competitive edge it needs to differentiate it from competitors who also serve similar markets.
The company can improve its channel strategy to enhance its current performance in one way. The company’s website is too reliant in the physical stores. The website has photos of the physical store ostensibly to help customers to connect with it. This idea seems well founded. However, the target market for any company that operates an online shopping system is not local. It transcends geographical boundaries. The company needs to consider how it can make the online shopping experience authentic and complete for customers who may never visit any of its physical stores. A website makes a company a global player. In this regard, the company needs to expand its channel strategy to take into account an expanded potential market. This shift in strategy will increase the sales the company makes.
The online stores are nothing but an extension of retailing. In net terminology it is known as E-tailing. If you go by definition, it is “E-tailing refers to retailing over the internet. Thus an e-tailor is a B2C business that executes a transaction with the final consumer. E-tailors can be pure play businesses like Amazon.com or businesses that have evolved from a legacy business, Tesco.com. E-tailing is a subset of e-commerce”
The Internet is currently the third most shopped channel; brands are pushed to keep up with the trend of building an online shopping option for their consumers and this is evident through the increase in retailers offering online options for their consumers (Valerio). With solely digital stores like Net-A-Porter, Amazon and eBay, competition among digital stores and physical stores are tight. Retailers are pushed to keep up with the rise of digital shopping whether they want to or not. There are several retail implications with the rise of digital shopping, retailers are turning to multi-channel retai...
The main advantage of online shopping is convenient. Online shops open 24/7. People who live in remote areas do not need to speed long time on the traveling to the stores. Consumers who come from other cities/countries can easily buy the native and specialty goods by just a click instead of going to that cities/countries themselves. The relevant information of products can be received from any location in seconds. Study showed that 72% of online shoppers preferred surf online than go to retail store to attain information about a product (Lokken et al., 2003). Online shopping also has greater price information (as cited...
There are many reasons for choosing to go into a store to purchase items needed. For instance, having some assist you in finding what you need, or just answer questions about the product. It is also a way to get out of the couch, away from the television, or off the computer. Another feature is you can see and examine what you are going to purchase, helps in the decision making for most people. You know the minute the salesperson ring you up the product are yours to take home and use right away. It also makes return on items simple, take it back to where you bought and get an exchange or a refund if needed. For the draw backing for in store shopping is you do spending hours looking for the right product or in the lines trying to just purchase it. Or listening to all the people around you and all the additional noises you hear in stores. Not to mention store have set hours on when you can shop and when you can not, this is something which can change with assign on the door.
Online shopping allows you to compare prices with other stores and endless sizes and colors are available to you that normally wouldn’t be in stores. The convenience of being able to check multiple stores prices without having to waste gas to drive to multiple stores to find the best price is just one of the many ways shopping online can save you money. We all know children grow at an exponential rate so having to go to the mall multiple times a month is frustrating and tiring. Being able to have someone deliver whatever you desire right to your doorstep is like receiving a gift. Another pro of online shopping is having access to customer reviews. Yes, you may be able to physically hold the item if you were buying it from a store, but by reading the customer reviews you can decide if the product is worth the price. You can even write your own review to inform other people of your opinion of the product. If you don’t like the product, most places allow you to ship it back hassle-free with a full refund or
Store can sell wide range of dry grocery, nutrition & vitamins, and natural cosmetics by internet. New distribution channel would be great opportunity to gain new customers. This allows them to increase the income of the store, which will no longer be limited to the local market.
This is the report according to the survey I did in IUP. Seven out of ten people say they prefer to buy goods from e-commerce. The reason is they said that it is convenient and time saving. According to the survey most of them agree that the service is fast. For an example, the delivery is fast. If you purchase something from e-commerce you will get the stuff within two weeks time. Beside that, the price is slightly cheaper than those goods in the shopping mall. But it depends on season, if you buy goods during the clearance season, such as New Year sale, summer sale or winter sales goods in the shopping mall probably will be cheaper than goods that offer in the e-commerce.