Comments on: Is your business missing a trick? http://shefaly-yogendra.com/blog/2009/05/27/is-your-business-missing-a-trick/ Strategy at the cusp of technology, investment and regulation Thu, 29 Jul 2010 13:24:00 +0000 hourly 1 http://wordpress.org/?v=3.0 By: romit http://shefaly-yogendra.com/blog/2009/05/27/is-your-business-missing-a-trick/comment-page-1/#comment-678 romit Sun, 23 Aug 2009 19:33:52 +0000 http://www.shefaly-yogendra.com/blog/?p=893#comment-678 Wonder why Nordstrom's, Neiman Marcus and Barney's don't open in Europe - they'd make a killing. Nordy's does customer service best - including gift vouchers, to free samples (for cosmetics), personal shopping appointments, 24 hour turnarounds for alterations (and no questions asked if you show up without your receipt/ stub), store returns for online orders (tough to handle, but they do it!). And there's a guy at NM who now emails me (and a bunch of other customers) before sales are announced, so I can come in and choose merchandise that he sets aside. And he's figured out my tastes, so if I wander in randomly (he recognizes me), he'll come up and tell me what all is new. Needless Markups or not, they're certainly good at maximizing revenues! <em><strong>@Romit</strong>: Thanks for your note. It appears that you presume that the great customer service/ revenue focus at NM/ Nordstrom/ Barney's etc is a product of corporate culture. It probably is, but I'd argue that the contribution of corporate culture is way smaller than other factors at work such as compensation structures. Many salespeople in these stores are compensated in commissions which may not be allowable in Europe, where a minimum wage must be met. The incentive to work harder is therefore limited. It is hard to say if NM/ Nordstrom/ Barney's would make such a killing in Europe, under different constraints. Many of the better stores, including Selfridges and Brown's mentioned here, offer personal shopping; free samples are par for the course at cosmetic product concessions; alterations are increasingly common too but some people, like me, may prefer to ask their own tailors to deal with them. But e-vouchers remain elusive hence this post. Thanks for reading. </em> Wonder why Nordstrom’s, Neiman Marcus and Barney’s don’t open in Europe – they’d make a killing. Nordy’s does customer service best – including gift vouchers, to free samples (for cosmetics), personal shopping appointments, 24 hour turnarounds for alterations (and no questions asked if you show up without your receipt/ stub), store returns for online orders (tough to handle, but they do it!). And there’s a guy at NM who now emails me (and a bunch of other customers) before sales are announced, so I can come in and choose merchandise that he sets aside. And he’s figured out my tastes, so if I wander in randomly (he recognizes me), he’ll come up and tell me what all is new. Needless Markups or not, they’re certainly good at maximizing revenues!

@Romit: Thanks for your note. It appears that you presume that the great customer service/ revenue focus at NM/ Nordstrom/ Barney’s etc is a product of corporate culture. It probably is, but I’d argue that the contribution of corporate culture is way smaller than other factors at work such as compensation structures. Many salespeople in these stores are compensated in commissions which may not be allowable in Europe, where a minimum wage must be met. The incentive to work harder is therefore limited. It is hard to say if NM/ Nordstrom/ Barney’s would make such a killing in Europe, under different constraints.

Many of the better stores, including Selfridges and Brown’s mentioned here, offer personal shopping; free samples are par for the course at cosmetic product concessions; alterations are increasingly common too but some people, like me, may prefer to ask their own tailors to deal with them. But e-vouchers remain elusive hence this post. Thanks for reading.

]]> By: Nita http://shefaly-yogendra.com/blog/2009/05/27/is-your-business-missing-a-trick/comment-page-1/#comment-677 Nita Thu, 28 May 2009 12:52:09 +0000 http://www.shefaly-yogendra.com/blog/?p=893#comment-677 I am surprised that well known companies are doing this. In India it is the easiest thing to get a gift voucher but when it comes to buying them online, I guess it won't be possible most of the time. But then Indian customers are not really into e-commerce in a big way. I am surprised that well known companies are doing this. In India it is the easiest thing to get a gift voucher but when it comes to buying them online, I guess it won’t be possible most of the time. But then Indian customers are not really into e-commerce in a big way.

]]> By: nancy perlman http://shefaly-yogendra.com/blog/2009/05/27/is-your-business-missing-a-trick/comment-page-1/#comment-676 nancy perlman Wed, 27 May 2009 18:01:31 +0000 http://www.shefaly-yogendra.com/blog/?p=893#comment-676 And furthermore, outfits like Selfridge's, with sister companies, such as Holt Renfrew in Canada, do offer the opportunity to buy a gift certificate in Toronto's Holt Renrew for Selfridge's in London. In a way, similar to the way telcos separate their online stores from their high street stores. "i cam to understand" (and have been for over a decade!) And furthermore, outfits like Selfridge’s, with sister companies, such as Holt Renfrew in Canada, do offer the opportunity to buy a gift certificate in Toronto’s Holt Renrew for Selfridge’s in London. In a way, similar to the way telcos separate their online stores from their high street stores. “i cam to understand” (and have been for over a decade!)

]]>