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NORDSTROMS AND BLUEFLY.COM.   Term Paper ID:30682 Click to get this paper

Essay Subject: Comparison of the two retailers.... More...

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Paper Abstract: Comparison of the two retailers. Compares a physical store with a electronic market. SWOT analysis of both operations (Strengths, Weaknesses, Opportunities, Threats). Discusses similarities. Nordstrom as a major upscale retailer, "shopping as entertainment" concept, low sales record. Business model of Bluefly.com, an Internet retailer of discounted designer fashion brands. Paper Introduction: Comparison of BlueFly.com and Nordstroms When comparing a “brick and mortar” store with a “click and buy” or “click and brick” operation, the only valid way to pursue the analysis is to concentrate on operations that sell roughly the same products and target the same customers. In this respect, both Bluefly.com and Nordstrom’s have many similarities: A) They both target upscale customers; B) They both offer a wide variety of merchandise that is at the top of the market; and, C) They are both desperately in search of identity. We shall first perform SWOT Analyses of the two operations. Nordstroms, Inc. (Brick and Mortar) Nordstrom’s is Number 320 in the Fortune 500, and is one of the Standard & Poor’s 500 major companies. It is in the most competitive of all sectors, retail; and within the retail sector, it is in the Text of the Paper: The entire text of the paper is shown below. However, the text is somewhat scrambled. We want to give you as much information as we possibly can about our papers and essays, but we cannot give them away for free. In the text below you will find that while disordered, many of the phrases are essentially intact. From this text you will be able to get a solid sense of the writing style, the concepts addressed, and the sources used in the research paper. . Continued loss of sales to bargain competitors for the upscale market, including BlueFly. Part of an industry with relatively little regulation . . (Brick and Mortar) Nordstrom's is Number 32 in the Fortune 5 , and is one of theStandard & Poor's 5 major companies. . In this respect, both Bluefly.com and Nordstrom's havemany similarities: A) They both target upscale customers; B) They bothoffer a wide variety of merchandise that is at the top of the market; and,C) They are both desperately in search of identity. Efficient retrieval of marketing and public relations informationThreats . Efficient retrieval of individual sales records . Increase product efficiency by closely matching sales and production . Threats . The primary danger is thinking that electronic data can completely replace manually produced reports and invoices. Business Week Continued loss of upscale customers due to lack of focus. Efficient retrieval of customer referrals . Overall start up costs relatively low compared to normal retail operation and compared to Nordstrom's . It is in the most competitive ofall sectors, retail; and within the retail sector, it is in the mostcompetitive and cost-conscious area, sales of clothing. . Efficient retrieval of cost of sales data (advertising, sales calls, distribution, etc.) . Potential drain on profits coming from reacting too quickly in a market where shelf-life is a question of hours and not weeks or months, creates a management headache that can only be solved by embracing technology. Businesses can eliminate needless and repetitive paperwork and create more valid customer interest profiles. Create new trend-tracking system and plans to use online investments to better study the shopping trends of upscale shoppers. Truly democratic system in which startup has relatively level playing field against multi-nationals . Much of this low sales record is attributed to the fact that the store is not comfortably positioned in the consumer's mind (Nordstrom, 2 ). We shall first performSWOT Analyses of the two operations. Ready access to large number of people using the Internet around the world . Nordstroms, Inc. Consider its ranking within specialty lines of merchandise where it is 19th (below even the May Company for upscale goods.) . 15), Filling Big Shoes, Forbes Magazine, 17 . http://www.nordstrom.com The click here generation. The company sees many opportunities as expressed in its annual report (2 ) and it sees its competition as "other national, regional and local retail establishments within its operating areas which carry similar lines of merchandise, including department stores, specialty stores, boutiques, and mail order and internet businesses. The culture of "Nordies" where each employee is challenged to find out ways that they can "go the extra mile" for the customer is beginning to backfire, since employees are now wanting pay for doing extra. Increase information flow throughout the organization . Strong need for consumer R&D and use focus groups to find out exactly what controls the buying decisionOpportunities . Difficulty with marketing and attracting upscale Web traffic . .", 1998, p. (1998, June 22). Has created a "shopping as entertainment" concept that is carried out by the fact that most stores have live piano music and some feature day spas, restaurants, and espresso bars.Weaknesses . . . Since Nordstrom's has experimented with putting some of its items onthe Internet with its company catalogs, and since Bluefly is testing thewaters with a brick-and-mortar operation in conjunction with WalMart, it isapparent that the differences that once seemed so clear between stores thatsold on land and stores that only sold on the web are blurring. Nordstrom's is the third largest upscale apparel retailer in the United States (trailing behind Federated Stores and the May Company.) . . Discretionary purchasing, which lets each store serve as its own buyer and negotiate its own deals, which has caused a steady decline in profits. Growing number of computer users making systems available . Part of the predicted retail sales projected to top $327 billion by 2 2 ("Log on. Nordstrom's Report, Online at Hoovers Corporate Profiles,http://www.hoovers.com Nordstom, Teen People Create BP-ROM, (2 , March 8), Teen People, 12 Nordstrom 1 k (2 , April 7) Palmeri, C. Cutting inventory and buyers. According to its 1 K (April 2, 2 1), the company sellsover 45 brands of designer apparel, fashion accessories and home productsat discounts that typically range between 25% and 75% off comparable retailprices. Loss of market share since it is in the most competitive of all sectors, retail; and within the retail sector, it is in the most competitive and cost-conscious area, sales of clothing. . . customizing ("Click here, 1998). Selling a product on the Internet can be cheaper but risks losing business where preferences vary from the norm. Software and hardware manufacturers constantly seeking an advantage or multiple advantages in production factors (especially human capital and infrastructure) create often mismatched or misaligned products, goods and services which can delay or outdate web improvements. . . . 132). Rapidly improving technology for connectivity, speed, and durability. Opportunities . The store's "no questions asked" return policy resulted in great losses since customers were bringing in items purchased in (or stolen from) other stores and getting refunds for them. Still growing excitement for making Net purchases. Since its inception, www.bluefly.com has served over 185, customer accounts in over 2 countries (1 K).Strengths . Comparison of BlueFly.com and Nordstroms When comparing a "brick and mortar" store with a "click and buy" or"click and brick" operation, the only valid way to pursue the analysis isto concentrate on operations that sell roughly the same products and targetthe same customers. Difficult to estimate the consumer's taste and opinion levels. As its potential consumer bases become more homogenous and informed worldwide, there will probably be a demand for consumer product purchases on the Net . . . . The Company believes the principal methods of competing in its industry include customer service, value, fashion, advertising, store location and depth of selection (1 K, 2 , 7). . . Rapidly changing and growing sophisticated domestic consumer base . . As more and more global businesses institutionalize and create "electronic common markets" there could be more stringent requirements for regulation. Good real estate locations with more than 75 stores and about 4 outlet stores (Nordstrom Rack) in 24 states, also operates a clearance store, two freestanding shoe stores, and three Façonnable boutiques. Along with best price, Net customers want style along with standardized qualities like, ease of use, reliability, and compatibility with existing products. Vigorous domestic competition which calls for continuously lowering costs, raising product quality and productivity, and developing innovative products and product lines.Weaknesses . Extremely high competition because there are so many companies and brand names within those companies that are constantly revamping pricing strategies. Nordstrom's is a NASDAQ traded stock, and one-third (approximately) of the shares are held by family members. Bluefly.com (Click and Buy) Bluefly, Inc. . If it is the thirdlargest "upscale" retailer, its annual sales within the primary retailsector place it much further down the list.Strengths . . (1999, Nov. Efficient retrieval of all Customer Data . (1998, June 22). E-Commerce today consists of a "push-pull" development strategy that falls between standardizing vs. . Business Week. Name brand loyalty is very rare in this market, and customers react to price first and then perceived quality. . References Bluefly Inc, 1 K filed April, 2 1http://www.bluefly.com Log on, link up, save big. Nordstrom's has a reputation of appealing to that part of the market called "Upscale" a term which means more affluent buyers who have more discretionary income, and want to spend it on more stylish items (Palmieri, 1999). A highly competitive marketplace that is in the process of changing from national and regional to global . is an Internet retailer of designer fashion brands atdiscounted prices. Rapidly expanding demographic and psychographic . With margins growing ever slimmer, the companies that survive are the ones that go with the market demand. Creation of multiple suppliers bases that provide components by sub- manufacturing, thereby reducing setup costs . Its organizational history shows a constant ebb and flow between privately held and public ownership and its stock has shown a loss for the last 17 quarters. . This business model resulted in activity, quoted from the 1 -K as In the 12 months of calendar year 2 , we offered over 55, different types of items for sale in categories such as men's, women's and children's clothing and accessories as well as house and home accessories. Efficient retrieval of Regional Sales records . Customer service and reliability issues are becoming strong considerations in buying behavior. Create efficiency through eliminating regional barriers thereby allowing quicker strategic planning and implementation . Good reputation for conservative management and fair treatment of employees. . . . 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