NEIMAN MARCUS PLANS SHOWS TO ENTICE TOP CUSTOMERS TO BUY NEW LINES AT FULL PRICE
Upscale retailer Neiman Marcus Group Inc is to set up special trunk shows and meetings with designers for its best customers in a bid to get them to buy new fashion items at full price.
Engaging Neiman’s core, wealthy customers are the retailer’s “best chance of turning the tide” of deep discounts that is drowning company profits, chief executive Burt Tansky said yesterday.
“The challenge that we have is to get the customer back into the store to buy at full price, because none of us can continue to sell at promotional prices and deep discounts,” Tansky told the National Retail Federation annual convention in New York. “First of all, there’s no advantage to it. Second of all it leads to hell … and it’s got to stop.”
Privately-held Neiman Marcus is testing several marketing ideas across its 40 signature stores, including bringing in groups of 20-30 shoppers for special events, Tansky said.
“We have a number of things going on and already we are starting to understand that our customer, the affluent customer, will come into the stores if we create the right environment,” he said. He noted that some clients said they felt uncomfortable “shopping ostentatiously… Our challenge is to break through that mindset”.
Being something of an outsider, I have a tendency to defend the underdog in most situations and when it comes to fashion, M&S is the underdog du jour. While recent figures show they have suffered their worst sales for three years with shares dropping by almost 25%, I say, give them another chance. (more…)
This season sees the Resort/Cruise collections go mainstream. As customers are increasingly fashion-aware and exposed to newness 24/7, the onus is on designers to give them more fashion, more frequently. Whereas Cruise used to be something of an also-ran (see this article from 1988!), this season it’s become an event in itself with proper celebs – witness Jennifer Lopez, Charlize Theron and Christina Aguilera at Dior – and coverage in the dailies.
This quote from Karl Lagerfeld on Style.com sums it up:
“It’s not Resort anymore. It’s another collection—in the story of Fall, pre-Fall, Paris/London, pre-Spring, Spring—called “cruise.” It’s like a code name, but the thing is that Chanel needs six ready-to-wear collections a year, every two months completely new things at the shops. There are hundreds of shops all over the world that have to have something new all the time or else there’s no reason to go back. Or else you go to a place like Colette where they see 100 labels. If it’s one label, this label needs to have something new all the time.”
Going to Colette? Skip the shopping, head for the exhibitions. 200 Troubled Teens (from 3rd-29th September) is a collection of photographs of adolescent skateboarders by Patrick O’Dell and youthful heavy-metal fans by Angela Boatwright. From the Street to the Night (1st-27th November) is an exhibition of street fashion portraiture by Amy Arbus, Scott Schuman (The Sartorialist), Yvan Rodic (Facehunter), Mark The Cobrasnake, Misshapes and Patrick McMullan.