SOURCE: Luxury Institute, LLC

Luxury Institute, LLC

October 23, 2013 12:53 ET

Neiman Marcus Outshines the Competition for Online and In-Store Experiences Among the Wealthy

NEW YORK, NY--(Marketwired - Oct 23, 2013) - As part of its first installment of the Luxury Multichannel Engagement Index (LMEI) survey, the New York-based Luxury Institute asked consumers from households with minimum annual income of $150,000 to share opinions and rankings of online and in-store experiences at leading luxury retailers. Neiman Marcus earns the highest overall score and stands out for garnering top honors in nine out of ten customer criteria used to evaluate both the Web and brick-and-mortar shopping experience. 

Wealthy shoppers say that Neiman Marcus stores rank first for attractive displays of exclusive products, easy navigation, accessibility of customer service, personalized shopping experiences, fair prices, and for carrying ample stock and styles. Customers also laud Neiman's salespersons for making them feel special while serving as trusted fashion advisors.

The Neiman Marcus online experience draws equally extensive 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.

Neiman plans to invest $100 million over the next three to five years on technology that will closely align inventory management, logistics and human resources across multiple retail channels.

"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."

About the Luxury Institute
The Luxury Institute is the objective and independent global voice of the high net-worth consumer. The Institute conducts extensive and actionable research with wealthy consumers globally about their behaviors and attitudes on customer experience best practices. In addition, we work closely with top-tier luxury brands to successfully transform their organizational cultures into more profitable customer-centric enterprises. Our Customer Culture consulting process leverages our fact-based research and enables luxury brands to dramatically Outbehave as well as Outperform their competition. The Luxury Institute also operates LuxuryBoard.com, a membership-based online research portal, and the Luxury CRM Association, a membership organization dedicated to building customer-centric luxury enterprises.

Contact Information

  • For Further Information, Please Contact:
    The Luxury Institute, LLC
    Martin Swanson
    Vice President Business Development
    (914) 909-6350
    mswanson@luxuryinstitute.com