Competitor Analysis

Neiman Marcus differs from its competitors in a few different ways. One of the largest is that Neiman Marcus Group owns multiple high-end luxury chains such as Neiman Marcus, Bergdorf Goodman, Last Call, and Cusp stores. Bergdorf’s was even the number one multi-channel retailer against competitors. Neiman’s was just behind at number three. Another big thing that makes them stand out is their online shopping. According to Fortune, Neiman Marcus’ online sales account for 27% of their total sales, making them a leader against their competitors in luxury e-commerce.

According to Bloomberg, Neiman marcus needs to continue to capitalize on what they have been doing. They have strategically marketed their product to reach not only their older, wealthy shoppers, but also wealthy millennials and international shoppers, a lot of whom shop online. They also are well-known for client experience, not known by the other competitors, setting them apart to the luxury consumer. They have also modernized their products and image, attracting a whole new audience.

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