Nordstrom founded in 1901 as a retail shoe business in Seattle, Washington, Nordstrom, Inc. is now a leading fashion retailer that offers customers an extensive selection of high-quality fashion brands focused on apparel, shoes, cosmetics and accessories for women, men, young adults and children .This bread of merchandise allows them to serve a wide range of customers who appreciate quality fashion and a superior shopping experience.
They offer brand-name and private label merchandise through multiple retail channels, including 115 Nordstrom U.S. full-line stores and Nordstrom.com, six Canada full-line stores, 244 U.S. and Canadian Nordstrom Rack stores, Nordstromrack.com/HauteLook, three Jeffrey boutiques, two Last Chance clearance stores, six Trunk Club clubhouses and TrunkClub.com, and three Nordstrom Locals. their stores are located in 40 states in the U.S., three provinces in Canada and Puerto Rico.
There is a high potential expand to global market increasingly. the average growth for the industry between 4.6% to 5.8 %. however, the average growth for this company in 2017 and 2018 was 8.5%. according to annual report 2.3% and the gross profit 34.4%. this industry known as high compaction, but this company have a competitor like Macy’s and TJ Maxx.
In my project I decided to open a store in UAE. it will be important move for this company because it will support there understand the market in the middle east country specially the culture and the guidance there, expand the market share in middle east . it will be the center for the online shipment also the industry growth rate in UAE is 22% .
The GDP rate in the UAE is from their main exports are oil and natural gas. Another contributing factor to the high GDP is tourism and foreign investments this offers the government foreign ownership with no taxes. However, there are other contributors to the GDP. For example, manufacturing contributes about 13%, hotels 11%, real estate 9%, construction 9%, transportation 7%, and finance and insurance 6%. According to the UAE government report, the unemployment rate is very low and is currently at 1.78% (The World Factbook, 2018). The UAE exchange rate is stable and highly competitive. This contributes to the international purchasing power of the UAE (Waheed, 2015).
When looking at the Nordstrom There are political, economic, social and other factors that take place when launching and marketing a new product in a new place. We are launching and marketing the company in the UAE and our goal is to make Nordstrom the new hot fashion in the UAE and supporting the online market to be faster than its now .
Reference :
Bush, T. (2016, June 15). A PESTLE Analysis of The UAE. Retrieved March 6, 2019, from https://pestleanalysis.com/pestle-analysis-of-uae/
About the UAE. (2019). Retrieved March 16, 2019, from https://www.government.ae/en/about-the-uae
For the rate :
https://www.reuters.com/finance/stocks/company-profile/JWN.N
Pableo Leslie (2019) for The National The GCC retail sector is expected to continue growing over the next five years .
https://www.thenational.ae/business/economy/gcc-retail-sector-to-grow-22-despite-headwinds-to-308bn-by-2023-1.852321