SOURCE: Luxury Institute, LLC

Luxury Institute, LLC

March 01, 2011 12:52 ET

Wealthy U.S. Consumers Rate Bergdorf Goodman Customer Experience Best in Luxury Retail; Nordstrom Excels in Loyalty, Brooks Brothers in Total Satisfaction

NEW YORK, NY--(Marketwire - March 1, 2011) - For the second consecutive year, Neiman Marcus' Bergdorf Goodman subsidiary earns the top ranking among eight luxury retailers in the 2011 Luxury Consumer Experience Index (LCEI) survey of wealthy shoppers conducted by the independent and objective New York-based Luxury Institute. Respondents rated retailers on store personnel, the shopping environment and whether the overall experience resulted in complete satisfaction.

Brooks Brothers earns the second highest overall LCEI score but ranks first for completely meeting wealthy customers' needs. Nordstrom receives the third highest LCEI score, and remains the most popular luxury shopping destination, visited by 38% of wealthy shoppers in the past 12 months. It is also earns the highest loyalty, with 98% of shoppers planning to come back. 

"The top-tier brands of luxury with resources are now focused on becoming customer-centric global enterprises," says Milton Pedraza, CEO of the Luxury Institute. "The only way to achieve this is to create establish a self-reinforcing culture of service to your associates and your customers. The work is extremely hard but the financial returns can be dramatic."

Survey participants had minimum household income of $150,000, with average income of $271,000 and average net worth of $2.4 million.

About the Luxury Institute (www.LuxuryInstitute.com)
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 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 Luxury CRM 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
    (914) 909-6350
    mswanson@luxuryinstitute.com