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That's the problem: Saks Fifth Ave and Nordstrom are in the exactly same market. The upmarket is Bergdorf Goodman.
by notyourday 9y ago
That'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.