SOURCE: Luxury Institute

March 06, 2008 11:00 ET

Luxury Institute Survey: High Net-Worth Consumers Rank Bergdorf Goodman, Nordstrom and Barneys the Retailers That Offer the Best Customer Experience

NEW YORK, NY--(Marketwire - March 6, 2008) - High net-worth consumers rated Bergdorf Goodman the retailer that offers the best customer experience in the 2008 Luxury Customer Experience Index (LCEI) survey from the independent New York-based Luxury Institute (www.LuxuryInstitute.com). Respondents commented, "The selection of products is unique and they provide a great shopping experience in person, over the phone and online," while others commented on the "helpful staff, upscale environment and excellent merchandise." Those who rated Bergdorf Goodman most favorably were female respondents over 50 years of age with a net income of $150-$199K with a net worth of under $1.0MM. Nordstrom and Barneys were ranked second and third, respectively.

"Luxury retailers are having challenges as the economic downturn indicates that the immunity of wealthy consumers at any level is, and always was, a myth," said Milton Pedraza, CEO of the Luxury Institute. "Today it is critical to understand what customer experience you deliver against a very competitive set of luxury retailers. Our impartial surveys are conducted with independent panels that are weighted to reflect national results, and the results are tabulated by external analytical experts. This ensures a level of transparency and objectivity that has earned us the trust of the consumers, the industry and the media."

Following are the 7 Retailers that were rated (in alphabetical order):

    1. Barneys                 5. Neiman Marcus
    2. Bergdorf Goodman        6. Nordstrom
    3. Bloomingdale's          7. Saks Fifth Avenue
    4. Brooks Brothers

The proprietary Luxury Customer Experience Index (LCEI) survey is the only measure of the customer experience of leading brands among wealthy Americans. A national sample of 1,613 wealthy American consumers, with an average income of $350K and average net worth of $3.7 million, was surveyed online. Survey results are weighted to match demographic and net worth profiles of the same audience according to the latest Survey of Consumer Finances from The Federal Reserve.

About the Luxury Institute

The Luxury Institute is the uniquely independent and impartial ratings and research institution that is the trusted and respected voice of the high net-worth consumer. The Institute provides a portfolio of proprietary publications and research that guides and educates high net-worth individuals and the companies that cater to them on leading edge trends, high net-worth consumer rankings and ratings of luxury brands, and best practices. The Luxury Institute also operates the Luxury Board (www.LuxuryBoard.com), the world's first global, membership-based online community for luxury goods and services executives, professionals and entrepreneurs. To reach the Luxury Institute, call 646-792-2669 or go to www.LuxuryInstitute.com.

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