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Saks Neiman Marcus Nordstrom Introduction The retail industry is very large and full of many different strategic groups There is a strategic group that focuses on the finer tastes in life and caters to a more upper-class market Three dominant members of this group are Saks Incorporated the Neiman Marcus Group and Nordstrom Through e-commerce strategies we will be able to see the similarities and differences in these firms core competencies and business strategies Background Since 1998 Saks Inc has opened forty-seven new stores There capital spending has increased to over 14 billion and they have upgraded or remodeled the majority of their stores Saks pres P7 Saks has eighty-eight million dollars of cash on hand and a credit line of seven hundred million dollars Saks pres P8 Saks Inc has also reorganized into two distinctive groups the Saks Department Store Group SDSG and the Saks Fifth Avenue Enterprise SFAE Saks Department Store Group targets the traditional department store Their motto is The Best Place to Shop In Your Home Town Saks pres P4 The Saks Fifth Avenue Enterprise targets the luxury marketplace Their motto is The Most Inviting Luxury Experience Saks pres P4 Both divisions of Saks are better strategically positioned to target their group of customers As mentioned Saks is divided into two divisions The Saks Department Store Groups strategies are having merchandise incentives an enhanced shopping experience and focused marketing Saks pres P22 These strategies present customers with ideas of what they need to have or what is in style The idea is a floor presentation that places the customer in a situation where they feel they would lead a better life if they owned the item being displayed to them Saks pres P23 One of the key aspects of this strategy is product differentiation Saks stores must be able to offer customers items that they want and need but that are not available at other stores
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