Dive Brief:
- Continuing its pursuit of high-end customers, Neiman Marcus debuted the 97th edition of its Christmas Book, the retailer announced Wednesday. The book contains gifts ranging from handbags and fine jewelry to men’s suits, women’s shoes and ready-to-wear fashions, as well as experiential "Fantasy Gifts."
- The 64th annual collection of Fantasy Gifts includes the chance to have yourself turned into an animated character by Walt Disney Animation Studios, attend the Olympic Games Paris in 2024 with Team USA and Ralph Lauren representatives and take a walk-on role in an American Ballet Theater performance, among other things.
- Neiman Marcus also launched its “Neiman’s Express”-themed holiday campaign featuring model Jessica Stam. The department store will host White Elephant parties at select stores and breakfast with Santa events, alongside offerings like gift personalization and access to its personal shoppers.
Dive Insight:
Neiman Marcus is preparing for the holiday season as it executes a growth strategy, dubbed Revolutionizing Luxury Experiences. This year, that has also meant job cuts. In February, the company announced plans to (close to 5% of its workforce) as part of a strategic realignment to focus more on high-value luxury customer growth. The cuts continued in August when the retailer further reduced its workforce by less than 1%.
As Neiman pushes forward following multiple rounds of layoffs, reports suggest that retailers could see a rise in sales this holiday season. According to a Deloitte report released this month, consumers are expected to spend 14% more this holiday season than last year, exceeding their pre-pandemic spend. Some middle- and higher-income shoppers are expected to increase their budgets the most: Shoppers earning between $50,000 and $99,000 expect to spend 26% more, and shoppers earning more than $200,000 project an increase of 22%.
This year’s Christmas Book, Fantasy Gifts and other perks are all part of Neiman Marcus’ history of offering high-end gifts and experiences to luxury shoppers. In 2021, Neiman Marcus sent its Christmas Book, which featured books, fine jewelry and a trip to Portugal, to 750,000 households internationally. That year, the retailer featured a 30.86-carat Mughal Heart Diamond and a six-person ski trip with international champion skier Lindsey Vonn as part of its Fantasy Gift selection.
“We are committed to providing unparalleled experiences and services to our luxury customer across our integrated retail model,” Ryan Ross, president of Neiman Marcus and head of NMG Customer Insights, said in a statement. “Every gift is carefully curated, not only for their beauty and craftsmanship, but also for their ability to create unforgettable moments. Our holiday offerings are a testament to our legacy as the ultimate fashion and gifting destination and support our growth strategy, Revolutionizing Luxury Experiences.”
