CH 2 Motivation, Ability, and Opportunity

CH. 2 Motivation, Ability, and Opportunity

 

Motivation
    Nordstrom is a company that specializes in keeping up with want customers want or need. Their strategy is to serve their customers the way they want to be served today, according to the retailer's chairman, Enrique Hernandez Jr. (2014). In terms of motivation, consumers have to be highly influenced or goal-directed to be persuaded in purchasing. What better way to successfully convince a shopper to buy from your store when you carry all the latest fashion, gear, clothes, shoes, accessories, etc., which strikes incidental exposure to activate customers' shopping goals. "Goals are credited with being a key motivational construct guiding consumer decision making," as stated by Chartrand, Tanya L., et al., and Nordstrom would credit those goals by not limiting their company only to sell particular products. Instead, offering a wide variety of them and working with different brands to keep up with the latest trends (2008, 189). As a shopper of Nordstrom, I can agree with the diversity of products that the company carries. Sometimes it's overwhelming because there's so much happening all at once, but I can say that it's always a great experience shopping at Nordstrom.



Ability
    The majority of the time, consumers can have the necessary resources to adjust the outcomes of companies. Motivation can play a role in the spending power of a consumer, but they also have buying decisions. Consumers may even research companies to evaluate more depth of their mission and base emotional decisions for consumption of the company as a whole. What separates Nordstrom from other companies is that they listen to the wants or needs of their shoppers because they want to provide them with everything they need and bring the experience to them. According to Nordstrom, "In order to continue to get closer to our customers, we have been evolving our business model by taking bold steps to redefine how we approach our customers, building on our efforts from the past few years and charting a new direction for the company" (2021). And they do all that while also delivering outstanding services and experiences and leveraging the strength of their company.




Opportunity
    The company benefits from growing online retailing, which provides consumers the convenience of shopping from home. With the increase in interactive methods and unlimited content, retail e-commerce is growing faster. According to the Census Bureau, the estimated retail e-commerce sales in the US for the second quarter of 2019 was US$139.7 billion, an increase of 8.3% from the first quarter of 2019. During the second quarter of 2019, sales were increased by 13.6% from the second quarter of 2018. The use of smartphones, tablets, and other internet-enabled devices contributed to the growing E-commerce market. Nordstrom stands to benefit from the growth in the US footwear market. With changing consumer preferences, the need grows constantly. The priorities of the younger generations and technological advancements expect to result in growth in the market. Increasing disposable income and increased popularity of online shopping also aid the development. According to in-house research, the US footwear market expects to reach US$98.6 billion by 2022. The country accounts for 25.5% of the global footwear market value. Women's footwear was the largest segment of the market, which accounted for 55.9% in 2017, followed by men's footwear (25.6%), and children's footwear (18.5%). Clothing, footwear, and accessories specialists form the leading distribution channel in the market, accounting for 51.9% in 2017, followed by department stores (15.9%).

Chartrand, T. L., Huber, J., Shiv, B., Tanner, R. J., & John Deighton served as editor and Stephen M.         Nowlis served as associate editor for this article. (2008). Nonconscious Goals and Consumer Choice.     Journal of Consumer Research, 35(2), 189–201. https://doi.org/10.1086/588685
Expanding our market strategy to 10 additional markets. Nordstrom. (2021). Retrieved from https://press.nordstrom.com/news-releases/news-release-details/expanding-our-market-strategy-10-additional-markets
Nordstrom Keeps Pace With Consumer. (2014). WWD: Women's Wear Daily, 207(93), 2–1.


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