Neiman Marcus Focusing on Omnichannel Strategy
Mobile fits into Neiman Marcus’ in-store strategy as well. The company outfits all sales associates with iPhones and provides them with training on using its app. Katz said the company plans to invest in more in-store tech programs. “We only have 41 stores, and they are highly productive stores,” Katz said. “But if we invest more tech-based capital into those stores, they can be even more productive.”
Neiman Marcus is also investing resources in growing its e-commerce business. “E-commerce is a billion dollar-plus business for us," Katz said. "In fact, we're the largest luxury e-commerce company in the world. But there's still a lot more we can do to improve this part of our business."
Neiman Marcus’ biggest online challenge? “Replicating online the service our customers receive from in-store sales associates,” Katz said. “When a customer arrives on our site, we need to make sure the site is personalized and that she sees what she wants. We need to make sure she has the same memorable experience [online] as she does in our stores."
Katz announced at the event that Neiman Marcus has selected a suite of Oracle Retail solutions to help it carry out these initiatives.
“Implementing a common merchandising system is the single biggest capital project we've ever done at Neiman Marcus,” Katz said. "We took a long time to decide on Oracle, but we learned a lot by talking to retailers who have done this before. We could have done this on our own, but after our research we decided Oracle would be the best partner for us."