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No, to continue your analogy, they wanted to be the Nordstrom of the moving world, not the Saks Fifth Avenue, not knowing that not enough people would use the h
by jimmywanger 9y ago
No, to continue your analogy, they wanted to be the Nordstrom of the moving world, not the Saks Fifth Avenue, not knowing that not enough people would use the high-end but not quite luxury service to make it worth their while.
- notyourday 9y agoThat's the problem: Saks Fifth Ave and Nordstrom are in the exactly same market. The upmarket is Bergdorf Goodman.
- jimmywanger 9y agoI suppose that's the problem, which he alludes to in his article. Basically we go shopping a lot (well a lot of people do) that's why there's so much market differentiation. JC Penny and Macy's and Nordstrom and Saks and Bergdorf Goodman all offer a slightly different experience tailored to different budgets, and the stratification is very clear. A truly upmarket experience is a concierge who knows your tastes and scours the stores to bring you what he think you'd like to wear. Just like any sort of suit you can buy in a store is orders less luxurious than a bespoke suit you get made for you on Saville Row.
- kgwgk 9y agoFWIW, wikipedia lists Saks higher than Nordstrom: https://en.wikipedia.org/wiki/Department_store#Segmentation https://en.wikipedia.org/wiki/Department_store#Segmentation
- notyourday 9y agoWikipedia is wrong. Saks went downmarket, Nordstrom went upmarket. They go to the same malls and same suburbs.