Today’s Wall Street Journal brings us a story about the efforts of Neiman’s CEO Karen Katz “to tone down the ultra-rich image to capture younger and less affluent luxury customers.” Sacré bleu! Katz confessed to this journalist last year that she digs Target. You can see where I’m headed with this.
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I shop at Neiman’s because they have great customer service first and foremost. For example, when I go to pick up items at the makeup counter (for my wife) at Northpark, the ladies greet me by name. I never have issues with returns or long waits. I don’t care if they introduce lower price point selections. As long as I get the treatment I’m accustomed to, I will always be a loyal customer.
I can just see Stanley spinning in his grave. N-M over the years educated everyone about the finer things in life. The many stories about the East Texas farmer arriving in overalls and straw hat to buy things at N-M spoke volumes about how they treated customers.
Dumbing down N-M will only hurt them not help them. If I want to shop at Target I’ll go to Target.
When they start taking Visa… watch out!
I thought that was the point of Cusp.
What next? Blue Light Specials?
ATTENTION N M (note, no hyphen)shoppers: special on Gucci thongs in aisle 4.
@PeterK – their focus on “aspirational buyers” is nothing new. It’s been going on at least since they expanded their stores in the 1990s. I doubt they are “dumbing down” their merch. When she says, “luxury customers,” that means people still will to spend some $$$.
The only wrinkle is, I think, that they are looking for more consistent profitability, and especially stability, from that segment.
They retreated from these buyers (or the other way around?)during the Great Recession, and now they seem to be re-engaging in new ways. Or, that what it looks like. Listen to their analyst calls.
I hate it when high-brow people underline their own highbrowosity by disingenuously confessing a fondness for something middle-to low-brow — the ol’ Leonard-Bernstein-loved-the-simple-heartfelt-storytelling-of-Hank-Williams or William-Shawn-delighted-in-the-hardboiled-charms-of-pulp-detective-fiction schtick*. Lack of pretention shouldn’t look so strenuous.
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* I’m making these examples up. In real life, these men were probably so sophisticated they dressed in women’s underthings.
People under 50 don’t shop at N-M — maybe that’s always been the case. N-M’s target customers are between 50-65, very wealthy, empty nesters.
Now that my money flow is a little more disposable, I was so excited to visit the downtown store a week ago since I have never been.
I will never go back.
The staff was snobby, did not offer help and downright ignored me. I was the only customer in the shoe department, and there were four associates. Not one greeted me until I left, and then suddenly one spotted me leaving and made a weak effort. I declined, got right back into my car and drove up the road to Nordstrom where I was greeted, assisted and treated like a queen.
Nordy’s it is. BFF.
They accepted Visa and MC just in the DFW stores the week of SB XLV and that was a one time deal.
@Jane Next time wear overalls and a straw hat.
I worked for NM in the early 90s when Terry Lundgren was in charge. (He’s now CEO of Macy’s) For a short time, they decided to focus on younger, less wealthy customers back then, too. When the 90s boomed, they abandoned that strategy and went straight for the highest rollers. Unfortunately, without the generous employee discount, I generally cannot afford to shop there. It was a great company back then, and I’m proud to have worked there.
I’d shop at Norstroms or Macy’s if I wanted that sort experience.
Nothing wrong with selling excellence; it does not come cheap.
Perhaps they should rethink whether some of the private-label brands still exhibit excellence, or just a label.
@Arec: Surely you’re not serious. Go into NM NorthPark any given day and 50% of customers are under 50.