Wealthy Consumers Retail Fav: Neiman Marcus

Neiman MarcusNew York—When it comes to providing the luxury retail experience—either online or in store—one retailer rises above: Neiman Marcus.

In the first of its Luxury Multichannel Engagement Index (LMEI), the Luxury Institute queried affluent consumers with household income of at least $150,000 to share opinions and rankings of online and in-store experiences at leading luxury retailers.

Nine out of 10 gave Neiman Marcus the highest score. Among the attributes these shoppers rated the retailer first in include: “attractive displays of exclusive products, easy navigation, accessibility of customer service, personalized shopping experiences, fair prices, and for carrying ample stock and styles.” They also like the store’s sales associates who act as trusted fashion advisors.

Neiman’s online experience drew equal praise with the top overall ranking and the highest scores on the same measures of satisfaction.

“Smart retailers realize the value of leveraging data to deliver superior experiences that build lasting customer relationships, regardless of the channel,” says Luxury Institute CEO Milton Pedraza.

Recently Neiman Marcus announced it plans to spend $100 million over the next five years on multichannel technology to improve inventory management, logistics and human resources.

“Every aspect of our business is being transformed by technological advancements,” said Jim Gold, president of Neiman Marcus Group, at a retailing summit in Dallas. “The lines have completely blurred between brick-and-mortar and e-commerce. The great challenge is to make the experience seamless.” www.LuxuryInstitute.com


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