Department store chain Neiman Marcus is Luxury Daily’s 2015 Luxury Retailer of the Year for its embrace of digital and cross-channel marketing, particularly its introduction of innovative digital technologies at the in-store level.
Neiman Marcus won over the first runner’s-up Barney’s New York and second runner’s-up Net-A-Porter. These top luxury retailers appealed to affluent consumers not only through their product selection but also with a diverse array of marketing tactics, innovations and excellent service across all channels, making shopping enjoyable and fun for their consumers.
The Luxury Retailer of the Year award was decided based on luxury marketing efforts with impeccable strategy, tactics, creative, executive and results. All candidates selected by the Luxury Daily editorial team and from reader nominations had to have appeared in Luxury Daily coverage this year. Judging was based purely on merit.
Neiman Marcus The Book
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Headquartered in Dallas, Neiman Marcus operates 42 stores in 40 cities, each of which is in the U.S. Through a partnership with Borderfree, Neiman Marcus also provides shipping to consumers in other parts of the world.
With the constant fear that in-store retail could be dying as consumers increasingly turn toward ecommerce sites to make purchases, it goes without saying that retailers are in a position where they are forced to adapt. Neiman Marcus has proven itself to be among the fastest, most creative and most efficient adapters to this and other changes in the shopping experience related to the growth of online and mobile shopping.
The tables allow the consumer to see, feel and try-on products in person and enjoy the experience of shopping without having to worry about something being out-of-stock (see story).
Even more impressive is Neiman Marcus’ memory mirrors. The mirrors allow consumers to see themselves from multiple angles in video, compare different outfits side-by-side and even email videos to themselves or to friends for input on the decision. This unique blend of digital and in-store capabilities optimizes the consumer’s shopping experience, eliminating the hassle of needing to keep switching between two or three outfits or straining to see the back.
Neiman Marcus memory mirror
On the mobile front Neiman Marcus is equally ambitious. “Snap. Find. Shop.” allows consumers to keep up on trends and pick out fashions from anywhere, on-the-go. By taking a picture of a product, consumers can find the item on Neiman Marcus or, if it is not carried, a similar one. The innovation allows the retailer to trigger innovation buys regardless of where the consumer is and eliminates the inconvenience of having to search for the product, either in-store or online.
Similarly, Pinterest commerce allows consumers to purchase products directly from Pinterest, creating yet another space that turns a potential consumer into a shopper (see story).
Also launched this year, a brand-specific mobile wallet developed with Capital One saves payment information on a mobile device that can then be used for an in-store transaction. As a result, a consumer may be more likely to use Neiman Marcus’ card, which she will not necessarily always carry on her, and be more open to spontaneous shopping trips.
The retailer further emphasized its multichannel marketing in its most recent holiday book. For the first time, consumers were able to access an exclusive gift that was only be revealed through Neiman Marcus’ mobile application, reflecting the retailer’s recent pushes in mobile and omnichannel (see story).
Neiman Marcus Flip to Find
Showing its complete dedication to online shopping, Neiman Marcus also struck a deal with FedEx, ensuring Father’s Day presents get to their recipients on time with a new same-day shipping service.
The retailerteamed with FedEx in 18 markets to offer same-day deliver for in-stock merchandise. Neiman Marcus likely came to the aid of some procrastinators, making a deeper connection between store and thankful customer (see story).
Lastly, Neiman Marcus has shown that it understands the demographic shifts and the data behind the move online. This year, the brand was present at SXSW, a haven for young, cultured consumers who skew affluent, exactly the demographic that retailers covet. By having a presence at the festival, Neiman Marcus gave itself opportunities to forge relationships with consumers who already are or could one day be big spenders.
First runner’s up: Barneys New York
Department store chain Barneys New York, which has a presence in Japan as well as the U.S., was also a leader in the move to digital and cross-channel integration. The chain unveiled a new Web Site in March and in September launched an iPad app for The Window, its editorial magazine.
The Window originally acted as the retailer’s online blog where lifestyle and fashion topics were covered, but, inspired by the success of thewindow.barneys.com, Barneys soon evolved the publication to include a print edition. With coverage of men’s and women’s fall fashion, the app is interactive and shoppable to heighten the reader’s experience. Increased demand for branded content could result from the growth of online shopping, and the app positions Barneys to lead on that front (see story).
Similar to Neiman Marcus, Barneys has also rolled out same-day delivery for ecommerce purchases in New York, thus sparing consumers the wait that mitigates the convenience of shopping from home.
Barneys The Window
The similarities don’t stop there. In a service similar to Pinterest Commerce, Barneys has integrated Like2Buy into its Instagram page. The service allows users to shop products from the images posted on Barneys’ Instagram page, a function particularly useful for mobile shoppers.
Where Barneys stands out, however, is in generating buzz. Through both good causes, such as its International Day of the Girl social media campaign, which called attention to workplace inequality and discrimination against women (see story), and in its role in distributing “Yeezys,” the shoes designed by Kanye West (see story).
Second runner’s up: Net-A-Porter
The online-only Net-A-Porter was founded on the belief that ecommerce would explode and has found ways to thrive even as more brands operate their own ecommerce platforms. Net-A-Porter remains the first choice for many brands that do not yet operate their own ecommerce platforms and has leveraged its position to attain numerous exclusives from big-name brands.
For example, French fashion house Chanel took more steps toward its ecommerce platform with a shop-in-shop on online retailer Net-A-Porter’s site.
Coco Crush, a six-piece fine jewelry collection, launched online prior to being in-store. The soft opening of ecommerce through Net-A-Porter likely offered Chanel some insight to its consumer’s willingness to buy online (see story).
Staying on the front lines, the retailer’s The Net Set was able to take the social aspect of shopping online. The app began exclusive to create desirability and attract influencers, but its expansion has proven successful.
On the app, consumers can browse trending fashions, share images, recommend products and otherwise interact with one another. Given the enormous influence that social media and word-of-mouth has on consumers, connecting brand loyalists and creating desirability is a surefire way to generate organic revenue boosts and satisfy consumers.
The Net Set
Net-A-Porter repeatedly demonstrates its knowledge of its own consumer base and its willingness to go the extra mile to serve them. This summer it expanded same-day shipping to the Hamptons to include a concierge service, demonstrating a knowledge of and willingness to go the extra mile to serve its most valuable consumers (see story).
Net-A-Porter succeeded for nearly a decade on its own, but a recent merger with Yoox in which both brands operate independently has not diluted the retailer’s identity. Although the site’s founder resigned, Net-A-Porter has nonetheless been able to maintain its position as the leader in luxury ecommerce and continues to innovate in the field.
Courtesy Luxury Daily