Dallas-based Neiman Marcus has a number of initiatives under way, including the possibility of bringing stores and online shopping to China. The luxury retailer also plans to make an announcement relating to credit cards on Oct. 28. (Neimans has gotten some criticism for its policy of not accepting Mastercard or Visa cards in its stores.)
These pursuits, among others, will “enhance and transform the shopping experience for our customers, which will increase our store business, along with the growth we’re seeing online,” said Neva Hall, executive vice president of Neiman Marcus.
Hall made the comments Oct. 12 at a Dallas Leaders Breakfast hosted by the Texas-Oklahoma chapter of the International Interior Design Association. “Neiman Marcus has a great brand that has always been focused on merchandise and service excellence,” she said. “Our brands have always been innovative, and innovation will be the key to our future. … We have to be nimble and flexible to stay current in our customers’ minds.”
Many of the initiatives are built around technology—leveraging it to enhance customer service and grow e-commerce sales, which Hall says the company expects to double in the next five years. Neiman Marcus’ sales for fiscal 2011 were $4 billion; $800 million of that, or about 20 percent, came from online purchases, she said.