As the retail industry embraces technology, the consumer now has the power to buy pretty much anything on their mobile devices with just a few taps. Luxury stores are also leaning into this shift by creating unique, upscale experiences online for each customer.
"Luxury for us is all in the experience we deliver," Geoffroy Van Raemdonck, CEO of Neiman Marcus, told Cheddar.
As the 2019 holiday shopping season gets underway, Raemdonck reported that the retailer did well online during Black Friday, finding a greater demand than last year, although Cyber Monday "started a little softer."
The "softer" start might have been a reflection of how the retailer promoted its Cyber Monday sale. "We're not too concerned about that. We actually plan on Cyber Monday to be less promotional. At Neiman Marcus Group we focus on profitable and sustainable growth and we're willing not to chase market share," the CEO said.
To carry its well-known brand into the e-commerce space, Neiman Marcus has invested in creating personal experiences not only for in-store shoppers but also for its online users. "We have 55 personal digital stylists that are personal shoppers who will curate assortments to you and potentially come to your home to deliver them," Raemdonck said. The company plans to continue using technology and data to build a better relationship with customers.
"The power of data multiplied by artificial intelligence and machine learning allows us to personalize the experience much better, and I see substantial growth for a company like us," he added.
Comscore’s Paul Dergarabedian breaks down the battle of summer blockbusters, from Superman to Jurassic World and Fantastic Four and what it means for studios.
VENU CEO JW Roth breaks ground on a 20,000-seat, state-of-the-art amphitheater in Texas—part of a $300M public-private expansion to redefine live music.
Despite healthcare spending cuts, medtech stocks like Edwards Life Sciences, Stryker, and Boston Scientific are rising, especially those serving older pati
The original Birkin bag created by Hermès for Jane Birkin in 1984 is up for auction in Paris. Sotheby’s expects the iconic bag to sell for hundreds of thousands of euros on Thursday.
Elon Musk’s artificial intelligence company is taking down antisemitic comments and other “inappropriate posts” made by its Grok chatbot, including some praising Adolf Hitler.
Joby CPO Eric Allison discusses the UAE’s historic EVTOL take off, marking Dubai as the launchpad for global air taxi adoption and Joby’s commercial readiness.
CFRA’s Angelo Zino joins us to unpack Meta’s Superintelligence Labs and what it means for the future of AI, innovation, and the company’s bold new direction.
AIRO CEO Joe Burns and Executive Chairman Chirinjeev Kathuria talks the future of aerospace, drones, and urban air mobility through innovation and synergy.
