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.
Thanksgiving travel is set to smash records as millions fly, drive, and ride despite FAA disruptions and economic uncertainty. Here’s what you need to know.
AI, BNPL and new digital tools are reshaping holiday shopping. PayPal’s Michelle Gill shares survey insights, tech trends, and tips for smarter spending in 2025
'The Chair Company' blends sharp satire with workplace conspiracy. Lake Bell joins us to talk its corporate themes, quirky characters, and why viewers love it!
It's a tough time for the job market. Amid wider economic uncertainty, some analysts have said that businesses are at a “no-hire, no fire” standstill. At the same time, some sizeable layoffs have continued to pile up — raising worker anxieties across sectors. Some companies have pointed to rising operational costs due to U.S.'s new tariffs, while others have redirected money to artificial intelligence investments. Workers in the public sector have also been hit hard. Federal jobs were cut by the thousands earlier this year. And many workers are now going without pay as the U.S. government shutdown has now dragged on for more than a month.
Nvidia smashes earnings with record-breaking revenue and soaring Blackwell demand as shares slip this morning, Barron’s senior writer Adam Levine unpacks it all
Jeff Wagoner, CEO of Outrigger Hospitality Group, discusses the company’s coral preservation initiatives and sustainable practices at their hotels and resorts.
Dena Jalbert, Head of M&A at Align Advisory, discusses the state of mergers and acquisitions in 2025 and beyond, highlighting key trends and opportunities.
