Transcript nordstrom.ppt

Big spenders get Nordstrom
perks
As if we needed another reason to shop
Erika Baker
Ryan Bizon
Dave Dalisky
Nordstrom
“Offer the customer the best possible
service, selection, quality and value.”
» John W. Nordstrom
Image of being #1 in Customer Service
High Quality Service Retailer, now moving to a Relationship
Retailer
Going Above and Beyond
• Looking to entice those who already spend
more than non-Nordstrom credit card
customers
– Platinum Customers
– "The customers in our rewards program
already spend 30 percent more than those not
in rewards, this should improve on that
figure."
» President of Nordstrom Credit, Kevin Knight
Going Above and Beyond
• The idea is to hook in the upper-end
consumer who drives the sales of an
organization, and make them feel extra
special
• "It cements a relationship with a customer.
It's just one, two or three more steps to
really work more closely with that
customer and to make their shopping a
more rewarding experience."
» Vice President, Macy’s Northwest
Fashion Rewards Program
• Multitiered Program
– Level 1
– Earn over 2,000 points on your Loyalty Card
and receive a $20 gift certificate to
Nordstrom
– Points must be redeemed within one year
– Each dollar spent equals 1 point
Fashion Rewards Program
• Level 2
– Complimentary shipping
– Invitations to private shopping events
– Nordstrom on Call service for spending between
$2,000 and $10,000
Fashion Rewards Program
• Level 3
– Concierge service
– Shopping packages
– $200 bonus Nordstrom certificates for spending
between $10,000 to $20,000
Fashion Rewards Program
• Level 4
– Unlimited complimentary alterations
– Access to "Red Carpet" events such as fashion
shows
• Runway fashion shows
around the country
– Personal shopping party
– Additional $200 bonus Nordstrom certificates for
spending more than $20,000
Bucking the Trend
• Federated Department Stores and Kohl's
Corp. have sold their credit card
businesses during the past few years
• Due to upscale clientele (household
income over $100,000) Nordstrom feels
safe maintaining risks associated with their
credit card business
Nordstrom Reigns Supreme!
• Nordstrom’s loyalty program has been on
par with upscale department stores like
Bloomingdales and Neiman Marcus, but
their new rewards program is further proof
for their dedication to superior customer
service
Bibliography
• http://seattlepi.nwsource.com/bus
iness/313776_nordstrom01.html
• Nordstrom.com