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Table of Contents

Store Locations Store Profile Customer Profile -Customer Overview -Customer Breakdown -Customer Narrative

Six Month Business Plan Classification Plan Financial Plan Purchase Strategy Market Purchases 6 Months Purchases Actual vs. Plan Marketing + Promotion


NORDSTROM LOCATIONS: MICHIGAN AVENUE 55 East Grand Avenue Chicago, Il 60611

OAKBROOK CENTER 10 Oakbrook Center Oakbrook, Il 60523

WOODFIELD SHOPPING CENTER 6 Woodfield Shopping Center Schaumburg, Il 60173

CHICAGO LAND AREA


STORE PROFILE: MICHIGAN AVENUE 55 East Grand Avenue, Chicago, IL 60611

Northbridge Mall in Chicago caters to professionals and the fashion conscious consumer. It is located on Michigan Ave. in the heart of downtown shopping. The mall has stores to suit women, men and children; clothing and accessories. Nordstrom is an anchor store on the north end. The store is multilevel and entrances are on both floors. They offer complimentary services such as; Beauty Stylist, Personal Stylists, Prosthesis Program, Spa Nordstrom, Wedding Suite and restaurants.


STORE PROFILE: OAKBROOK CENTER: 10 OakBrook Center, Oakbrook, IL 60523

OakBrook shopping center is located in a west suburb of Chicago seconds away from the highway. The mall caters to mainly shoppers of the north and west suburbs. The mall has quite a few retailers bringing in a range of customers. Nordstrom is an anchor store of the mall and is bi level. This location offers; Beauty Stylist, Personal Stylists, Prosthesis Program, Spa Nordstrom, Wedding Suite and restaurants. The mall is not housed in one building and customers must walk outside to enter and exit each retailer.


STORE PROFILE: WOODFIELD SHOPPING CENTER: 6 Woodfield Shopping Center, Schaumburg, Il 60173

Woodfield shopping center is located in a northwest suburb of Chicago. It is one of the destination malls of the area with nearly 300 stores and restaurants. The Nordstrom is an anchor store and is bi-level with entrances both outside and inside the mall. This location offers; Beauty Stylist, Personal Stylist, Prosthesis Program and their own restaurant and cafĂŠ (Ebar and Market Place CafĂŠ).


CUSTOMER PROFILE: MICHIGAN AVENUE: 55 East Grand Avenue, Chicago, IL 60611 The Northbridge mall customers are very wealthy and have high level jobs; management and professional. The average income is $69,800 and median age is 41.3 years old. The customer is wealthy and around 40 years old. They have a stable job and are looking to dress for work and leisure. Almost 40% has never been married and may tend to go out more in the city and need clothes appropriate for such occasions.

OAKBROOK CENTER: 10 OakBrook Center, Oakbrook, IL 60523 Customers who shop at Nordstrom in Oakbrook have an annual average income of$109,900 and an average age of 53 years old. The customers are older with quite a bit of money. 65% of the population is married. This signifies that they if married with kids they are now empty nesters and their children are out of the house. They budget for vacation and retirement. Day by day isn’t as important. Couples have time now to go out for dinners alone and other activities they didn’t do while the kids were around; theatres, vacations and remodel their house. They often eat out or order in just for convince, cooking for two can be a challenge and wasteful. WOODFIELD SHOPPING CENTER: 6 Woodfield Shopping Center, Schaumburg, Il 60173 The average age of the Schaumburg area is 32 years old and has an average annual income of $62,031; this is almost half the average annual income of the Oakbrook population. Much of the population is also newlyweds with 48.3% married. The typical couple is saving what they can every month to plan ahead for their young children or their future. The Nordstrom customer from Schaumburg shops Nordstrom with a budget in mind and purchases garments on credit when it is over her expected budget. They do not limit themselves to Nordstrom but go there to seek select pieces such as; swimwear, shoes and work attire.


CUSTOMER OVERVIEW: NORDSTROM LOCATIONS GENERAL INFORMATION Population Density (peop. per sq. mi.) Land area EDUCATIONAL ACHIEVEMENT Some college Associates degree Bachelors degree Graduate/professional High school or higher Bachelors or higher MARITAL STATUS Never married Married Divoriced HOUSEHOLD INCOME

Median household income OCCUPATION Mgt./Professional Sales/Office DEMOGRAPHICS White Asian Black Average age

Michigan Avenue 55 East Grand Avenue Chicago, Il 60611

Oakbrook Center 10 OakBrook Center OakBrook, Il 60523

Woodfield Shopping Center 6 Woodfield Shopping Center Schaumburg, Il 60173

26,522 169,900 1.56 sq mi.

10,231 1,207.12 8.48 sq mi.

12,046 1,797.71 6.7 sq mi.

15.4% 3.3% 33.8% 39.7% 97.7% 73.5%

16.7% 4.8% 24.6% 29.9% 91.1% 54.6%

18.5% 7.1% 36.6% 20.3% 95.7% 56.9%

38.6% 43% 10.9%

18.3% 65.7% 3.5%

37.5% 48.3% 10.2%

$50,000-$74,000: 17.1% $200,000 +: 30.6% $200,000+: 15.1% $100,000-$149,000: 12.8% $100,000-$149,000: 13.4% $75,000-$99,999: 10.1% $69,889 $109,942

$50,000-$74,999: 29.8% $35,000-$49,999: 15.6% $100,000-$149-999: 14.6% $62,031

70.10% 22.90%

63% 25.50%

56.9% 26%

80.1% 9.4% 5.1% 41.3 yrs.

77.2% 17.8% 1.2% 53.3 yrs

59.5% 27.8% 5.2% 32 yrs


CUSTOMER BREAKDOWN: Occupation 80 70 60 50 40

Sales/Office

30

Mgt./Professional

20 10 0 Michigan Ave.

Oakbrook Center

Woodfield Shopping Center

Education 80 70 60 50 40

Graduate/ Professional

30

Bachelors Degree

20 10 0 Michigan Ave

Oakbrook Center

Woodfield Shopping Center


CUSTOMER BREAKDOWN: Annual Income 35 30 25 20

$75,000-$99,999

15

$100,000-$149,999 $200,000+

10 5 0 Michigan Ave.

Oakbrook Center

Woodfield Shopping Center

Marital Status 70 60 50 40

Never Married

30

Married Divoriced

20 10 0 Michigan Ave.

Oakbrook Center

Woodfield Shopping Center


CUSTOMER BREAKDOWN: Age 60 50 40 30

Age

20 10 0 Michigan Ave.

Oakbrook Center

Woodfield Shopping Center


CUSTOMER NARRATIVE: Anne is a mother of two college age children, a sophomore and senior. She and her husband are enjoying having the home to themselves after 21 years of their children living with them. They have taught their children the importance of an education and securing a professional career. Anne and husbands annual combined income is $270,000. They have the luxury of living just outside of Oakbrook, IL in their custom built home. Since the home is empty Anne and her husband have traveled more and made some renovations to the house. It is easier to do plan activities without the kids around and to spend some extra time together. Anne decided to start hosting neighborhood Pictionary nights bi-monthly. She wants to show off the new renovations to her house and get together with the other empty nesters. They have money and are willing to spend it. Their ties to their children financially are decreasing as each year passes. Anne is still working part-time at a financial advising firm. She does all the grocery shopping and chores besides the lawn, which her husband takes care of (hiring a lawn servicing company). Her and her husband enjoy cooking together but they often eat out or order food. Anne in her personal time likes to attend Jazzersize class when in the mood. She also likes to get together with other college friends and coworkers for lunch. At least once a month her and her husband will attend the theatre in Chicago, after they decided to purchase season tickets to The Goodman Theatre. They also like to take their children to Chicago sporting events when they come home to visit on holidays. Anne’s wardrobe has athletic, business casual and formal attire. She currently favors brands such as; Michael Kors, Sandra Ingrish, Lauren by Ralph Lauren, Kenneth Cole New York and Adrianna Papell. She prefers separates and layers for comfort. Her body requires plus sized clothing. She frequently stops into Nordstrom to find new pieces for her collection or upcoming events and picks up items for her husband who doesn’t shop as frequently. She doesn’t always find something but when she does she doesn’t hesitate to purchase because she knows that comfort and style are hard to come by in her department.


Aug

FEB

Aug

FEB

9.6% 3.0 36.4 188.6

10.9% 3.4 33.7 191.3

59.0

177.4 12.0% 51.1 10.9% 5.8 27.4 147.9 Sept 50.2

147.9 10.0% 42.6 9.6% 5.1 80.3 180.4

MAR

42.5

36.1

43.3

50.0

10.0%

12.0%

Sept

191.3

204.3

MAR

Nordstrom- Plus Size Blouses Northbridge, Schaumburg, Oakbrook Average Price $90

Future Sales

Beg.Month Stock % Sales % Markdowns Purchases End Month Stock

Plan

Plan - This Year

Future Sales

Beg.Month Stock % Sales % Markdowns Purchases End Month Stock

Plan

Actual - Last Year

67.4

Oct 79.5

180.4 12.2% 52.0 16.3% 8.7 221.8 341.5

APRIL

Oct

246.4

106.9

5.1

16.3%

44.0

12.2%

188.6

APRIL

341.5 23.1% 98.4 18.5% 9.9 307.9 541.2

MAY

317.8

160.7

5.8

18.5%

83.5

23.1%

246.4

MAY

541.2 36.6% 156.0 41.2% 21.9 -273.1 90.2

JUNE

233.5

60.8

12.9

41.2%

132.2

36.6%

317.8

JUNE

90.2 6.1% 26.0 3.5% 1.9 142.4 204.7

JULY

225.5

15.1

1.1

3.5%

22.0

6.1%

233.5

JULY

Actual Markdown

ACT 3.81

ACT 1.57

ACT 3.39

ACT 1.77

Mark-Up 61.4%

AM$= $71.0

PLN 3.47

WOS/STS

PLN 1.73

1478.6 $53.5 12.5% 100% 426.1 Sales Change +18.0% 100.0% 53.3 Average Stock 506.7 PLN $246.3 ACT $240.5 1505.9 Turnover

Total

PLN

WOS/STS

PLN

31.3 Average Stock 413.6 PLN ACT $229.6 1403.1 Turnover

100%

361.1 Sales Change +5.4 %

100%

8.7%

Actual Markdown

1381.9 $31.3

Total


CLASSIFICATION PLAN:

February

March

April

May

June

July

Silk

30%

25%

20%

15%

20%

15%

Knit

20%

15%

20%

10%

15%

10%

Blend

20%

30%

30%

35%

25%

35%

Cotton

15%

20%

25%

30%

35%

30%

Misc.

15%

10%

5%

10%

5%

10%

Total:

100%

100%

100%

100%

100%

100%


FINANCIAL PLAN: Silk Plan - This Year Plan FEB MARCH APRIL Beg.Month 53.2 37.0 36.1 Stock Sales 15.3 10.7 10.4 Reserve 0.8 2.0 4.4 Purchases 7.4 18.1 40.0 End Month 44.4 45.1 68.3 Stock KNIT Plan – This Year Plan FEB MARCH APRIL Beg.Month 35.5 22.2 36.1 Stock Sales 10.2 6.4 10.4 Reserve 0.5 1.2 4.4 Purchases 4.4 10.8 40.0 End Month 29.6 27.1 68.3 Stock BLEND Plan - This Year Plan FEB MARCH APRIL Beg.Month 35.5 44.4 54.1 Stock Sales 10.2 12.8 15.6 Reserve 0.5 2.4 6.7 Purchases 4.9 21.7 59.8 End Month 29.6 54.1 102.5 Stock

MAY JUNE JULY Total 51.2 108.2 13.5 299.3 14.8 4.6 41.6 81.2

31.2 -5.5 -49.1 18.0

3.9 86.2 3.1 9.4 27.6 85.6 30.7 287.7

MAY JUNE JULY Total 34.2 81.2 9.0 218.1 9.8 3.1 27.7 54.1

23.4 -4.1 -36.9 13.5

2.6 62.9 1.4 6.5 12.8 58.8 20.5 213.1

MAY JUNE JULY Total 119.5 135.3 31.6 420.4 34.4 10.8 97.0 189.4

39.0 -6.8 -61.5 22.6

9.1 121.1 5.0 18.6 44.8 166.7 71.6 469.8


FINANCIAL PLAN: COTTON Plan - This Year Plan Beg.Month Stock Sales Reserve Purchases End Month Stock MISC. Plan - This Year

FEB MARCH APRIL MAY JUNE JULY Total 26.6 29.6 45.1 102.5 189.4 27.1 420.2

Plan Beg.Month Stock Sales Reserve Purchases End Month Stock

FEB MARCH APRIL MAY JUNE JULY Total 26.6 14.8 9.0 34.2 27.1 9.0 120.7

7.7 0.4 3.7 22.2

7.7 0.4 3.7 22.2

8.5 1.6 14.5 36.1

4.3 0.8 7.2 18.0

13.0 5.6 49.6 85.4

2.6 1.1 10.0 17.1

29.5 9.2 83.2 162.4

9.8 3.1 27.7 54.1

54.6 -9.6 -86.0 31.6

7.8 -1.4 -12.3 4.5

7.8 4.3 38.4 61.4

2.6 1.4 12.8 20.5

121.1 11.5 103.4 399.0

34.8 5.4 49.1 136.4


PURCHASE STRATEGY: Michigan Ave. (North Bridge) The area surrounding the North Bridge mall has the highest population density out of all the Chicago land locations. This Nordstrom will receive more merchandise than the Oakbrook and Schaumburg location. North Bridge mall will also receive a wide variety of colors to give the city shopper an option to brighten up their wardrobe. The city tends to wear more colors than the suburbs and take more of a risk mixing and matching clothing. Oakbrook Center This is the highest income area and will receive more formal pieces than the other locations in turn Oakbrook receives less inventory than Michigan but more than Schaumburg. Due to Oakbrook having the highest median age, Nordstrom will offer more structured pieces because body silhouette change with age, especially in plus size. Schaumburg Shopping Center Schaumburg has the lowest income and median age and carries the least amount of inventory. The lowest median age requires more inventory youthful colors for example, mint green. The store will also receive more flirty tops for the younger age group to go out for a night on the town or dinner; pieces that can go from work to evening are ideal for this customer.


FEBURARY PURCHASE ORDERS


MARCH PURCHASE ORDERS


APRIL PURCHASE ORDERS


MAY PURCHASE ORDERS


JULY PURCHASE ORDERS


PURCHASES: Month

Plan

Actual

February:

$27,400 (24,100)

$23,956

Silk

$7,400

$7370

Knit

$4,400

$4,400

Blend

$4,900

$4,860

Cotton

$3,700

$3,630

Misc.

$3,700

$3,696

$80,300 (72,300)

$72,116

Silk

$18,100

$18,066

Knit

$10,800

$10,800

Blend

$21,700

$21,660

Cotton

$14,500

$14,449

Misc.

$7,200

$7,141

March

April:

$221,800 (199,400) $199,289

Silk

$40,000

$39,956

Knit

$40,000

$39,983

Blend

$59,800

$59,794

Cotton

$49,600

$49,596

Misc.

$10,000

$9,960


May

$307,900 (276,500) $276,298

Silk

$41,600

$41,555

Knit

$27,000

$26,942

Blend

$97,000

$96,974

Cotton

$83,200

$83,177

Misc.

$27,700

$27,650

$(273,100)

-

Silk

-

-

Knit

-

-

Blend

-

-

Cotton

-

-

Misc.

-

-

June

July

$142,400 (136,400) $136,202

Silk

$27,600

$27,564

Knit

$12,800

$12,785

Blend

$44,800

$44,781

Cotton

$38,400

$38,304

Misc.

$12,800

$12,768


MARKETING: FEB- VALENTINES DAY SALE, 14th MARCH – First day of spring sale (week long) APRIL 22nd- Earth Day Love the earth & Love you sale!!! May- Mother’s Day/ Woman’s day out June20th – First day of summer July 4th- Sale! August- End of summer sale!

Objectives: 1. Increase sales per associate 2.


2013

MARKETING

FEBRURARY: Sunday

Monday

Tuesday Wednesday Thursday

Friday

Saturday

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

Employee Education: Employees will be educated on how to dress the plus size woman and how to enhance their shopping experience by, picking out clothes appropriate for their lifestyle and body shape. Increase sales through the personal selling. The meeting on February 1 at 7:30am-9:00am and will include breakfast and coffee. Store Promotion: Valentine’s Day sale, “Love Yourself!” The sale will run from February 7 – February 14. Women will be invited to enjoy a discount of 25% off their plus size department purchase of $200 or more. The website, email blast, Facebook and Twitter will all have the sale information up at the end of January to help spread the word.


2013

MARKETING

MARCH: Sunday

Monday

Tuesday Wednesday Thursday

Friday

Saturday

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

29

30

31

Employee Incentives: Employee of the Month! During March employees will be competing against each other for the prestigious title of Employee of the Month. The sales associate who reached their goals most often will get their picture hung up for all the month of April. Announcement will be at close on Sunday, March 31. Customer Events: GIRLS NIGHT OUT! Nordstrom plus size department will host an event on Friday, March 22 that will feature refreshments and live pianist local to the area. Women are invited to come and enjoy a night all about them from 6:00pm9:00pm. There will be special gift with purchases over $300.


2013

MARKETING

APRIL: Sunday

Monday

Tuesday

Wednesday Thursday

Friday

Saturday

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

29

30

Employee Training: Educate the employees on upcoming summer trends. Discuss fabrication and comfort for the upcoming warm weather and how to layer pieces to better suit the customer. The meeting will feature May garments as well as the stores current selection to help sell through products. April 29 from 7:30am-8:30 am and includes a $100 gift card raffle at 8:30am. Customer Promotion: April 22, 2013 is Earth Day and the plus size department will celebrate this date by donating 10% of sales to the Environmental Protection Agency (EPA) during Earth week April 15-22. Along with every purchase women will receive an Earth Day packet informing them on the wonders of the world provided by the EPA.


2013

MARKETING

MAY: Sunday

Monday

Tuesday

Wednesday Thursday

Friday

Saturday

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

29

30

31

Employee Promotion: Friends and Family event. Employees will be able to hand out fliers to their friends and family and receive 30% off their purchase in the plus size women’s department from May 6-26. Fliers will be limited to 10 per employee. Customer Promotion: Summer launch event May 3-5. Customers get a chance to see the upcoming summer garments and trends. Learn from employees what’s new and how to style these pieces and incorporate them into their wardrobe. All garments will be buy one get one of equal or lesser value half off.


2013

MARKETING

JUNE: Sunday

Monday

Tuesday Wednesday Thursday

Friday

Saturday

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

29

30

Employee Sales: For every Nordstrom credit card opened during June the employee will receive $2 to their pay and for every card approved will receive $3. This is $1 more per card than normal. This will encourage employees to push for customers to open up Nordstrom cards which benefit both the customer and the company. Customer Promotion: It is important to get customers coming back so for every $100 spent in the plus size woman’s department a special $10 Nordstrom gift card will be issued, up to $50. The cards may not be redeemed the same day but the day after and expires in a year from activation (day after purchase). June 6-9. This will be promoted online through Nordstrom.com and social media updates.


2013

MARKETING

JULY: Sunday

Monday

Tuesday Wednesday Thursday

Friday

Saturday

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

29

30

31

Employee Training: Employees will be educated on the fall fashions. Fabrication, cut and style will be covered in a meeting with plus size women to show off the new styles and how they can be achieved with our products. It is important that employees are educated thoroughly to help women and see the products up close and personal prior to selling it. The meeting is on July 29 from 7:30am-9:00am with breakfast and coffee. Customer Promotion: Designer meet and greet with Eileen Fisher. Nordstrom will host Eileen Fisher to talk about her new fall collection, design inspiration and what it means to dress the full figured woman. Customers will be able to listen to Eileen Fisher at the three major Chicago land locations during July 17-19 from 3:00pm6:00pm. In store signage, webpage and social media will all post the event.


Six Month Buying Project - Nordstrom  

Chicagoland Area Nordstrom Stores, Encore Department

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