Nordstrom
The Ask:
Create a justified 6-month buying plan for Nordstrom’s women’s department. This project demonstrates the entire buying process including the research necessary for decision making, the six-month plan, the assortment plan, and purchase order.
The Process:
The first step in creating a six-month buying plan was to complete extensive research regarding Nordstrom and its competition. We were able to determine the competitive advantages for Nordstrom, Saks Fifth Avenue, Bloomingdale, and Neiman Marcus. To stay ahead of their competitors, Nordstrom has focused on building out its loyalty program, expanding its product offerings, and investing in technology to enhance the customer experience. The next step was creating a 6 month plan, with the help from a previous sales plan, it was time to complete our 6-month plan on excel spreadsheet. We were asked to calculate TY sales, BOM stock dollars, markdown dollars, gross margin percentage, and turnover. Next, I created an assortment plan including classifications, monthly sales by classification, vendor plan, purchases by classification, and a price lines plan.