Word: nordstrom
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Dates: during 2000-2009
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...fashion designers to cosmetics companies to small-town malls is praying that Lundgren's strategy works. Department stores have struggled for years: they've cut service, cut prices, cut inventory and still lost customers to cheaper (Wal-Mart) or more stylish (Kohl's, Target) discounters and to specialty stores (Nordstrom) with top-end service. Millions of Americans, especially in the nation's midsection, will soon have their first chance to shop at Macy's. The company now has to give them a reason...
...bingeing began with a bang the day after Thanksgiving. The pace has since slowed, and the register isn't ringing much at stores like Nordstrom and Saks, which are struggling to project value and pizzazz. Not that they aren't trying. Nordstrom is offering to take your list over the phone, wrap every item and give you the whole bundle curbside. But service goes only so far when others are competing on price, says Paco Underhill, president of retail consultant Envirosell, who estimates that "10% to 15% of customers are walking out the doors of the mass merchants empty-handed...
...their house in Montgomery County, just north of Houston, even though there's been a call for elderly people to evacuate. "I've talked to my neighbors and to security and everyone says it'll be windy and we'll get some rain, but that's all," insists Peggy Nordstrom. "We're going to be fine...
...bottom with the core Bath & Body Works store, moving up to the Bath & Body Works flagship store (which may also offer services like aesthetician consultations) and finally to top-of-the-line C.O. Bigelow--a retro "apothecary" meant to draw customers from competitors like Sephora and the Nordstrom cosmetics counter. "Segmentation unlocks growth potential," says Fiske. The underlying idea at all the stores is to stock products that don't just make you feel nice (Cucumber Melon bubble bath) but also make you look better (Goldie nail lacquer)--and in the process create a new sort of one-stop shop...
...advantage in being a retailer, which we are, and coming out of the Pacific Northwest. Customer expectations are very high. If you're successful in the Northwest, you tend to export that successfully around the country. We have a disproportionate number of industry-leading retailers here: Starbucks, Costco, Nordstrom, Amazon...