Neiman Marcus Group, Inc. | Company Profile, Marketing Contacts, Media Spend, Brands
Headquartered in Dallas, TX, The Neiman Marcus Group, Inc. is a luxury retailer offering merchandise and service that cater to the needs of the affluent consumer. The company operates over 30 Neiman Marcus full-line stores at prime retail locations in the United States markets and two Bergdorf Goodman stores on Fifth Avenue in New York City.
|Main Telephone||(214) 741-6911|
|Main Fax||(214) 573-6142|
Neiman Marcus Group, Inc. ContactsContacts (5/27)
|Jim G.||Chief Merchandising Officer||TX|
Sample of Associated Brands
|Karen K.||Group President & Chief Executive Officer||TX|
|Jim S.||Vice Chairman||TX|
|John K.||President - Online & Retail||TX|
|Michael F.||Interim Chief Financial Officer & Chief Operating Officer||TX|
|Neiman Marcus Group, Inc.||********|
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Q4 Print, Display Opps: Neiman Marcus CMO departs (Score 53)
Subject: print, magazines, digital, video, social media,mobile
Opportunity: Announced that Wanda Gierhart is stepping down from her position as CMO. No end date or replacement has been named yet, and CEO Karen Katz said that Gierhart would stay on “as we work through the transition.” Gierhart has been a member of NM’s leadership team since 2009 and oversaw all aspects of marketing and branding, including strategic planning, digital, mobile, social media, e-commerce and retail management. She also “played a key role” in NM’s omnichannel strategic vision and subsequent transformation, per Katz.
Martech readers 0 digital, e-commerce and omnichannel initiatives have been top-of-mind for NM over the last year – especially since e-commerce accounted for about 30% of NM’s total sales for 2015. The online customer experience for NM’s affluent customers has been important to maintain, so any ideas for how to make online shopping more high-end would likely be received well.
Sellers – NM’s display presence has greatly increased over the last year, so be looking for more ad revenue here. Be mindful of the company’s desire to maintain its “prestigious and affluent” customer base, while also attracting a younger, millennial customer (hence top display placements, more below). iProspect, Dallas handles search. Note that, far and away, NM’s highest spend period is Q4, so begin reaching out now to get ahead of this revenue.
With a vacancy at the top marketing spot, NM currently scores a 53 on our predictive analysis model – meaning the company could be looking to shift strategy and/or agency roster in the next 12 months. However, this will increase when a new CMO is appointed, so check back the WinmoEdge and we’ll let you know as soon as we know who that will be.
Experience: Prior to joining NM, Gierhart was CEO and president of TravelSmith and has also served as EVP of marketing for Design Within Reach and Limited Brands.
Delayed IPO Plans: Last August, WinmoEdge told you about NM’s IPO plans, but in October, the retailer announced it would delay its IPO. Unfavorable market conditions and other-luxury retailers struggles were sighted as reasons for the delay. Look for the IPO to debut sometime in 2016 (in the meantime, you can read about prior plans here).
Target Customers: Approximately 79% of NM's customers are female. The average age of the customer is 51 and 38% of customers have a media HHI of over $200,000 (over 40% have a total household net worth of more than $1 million).
Media Spend: According to Kantar Media, NM spent $28.7 million on measured media through Q3 2015 – which is slightly higher than the same period 2014 ($27 million). For 2015, 80.7% of NM’s media spend went to print ads. The remainder was largely allocated to display ads (16.1%) and some search (2.6%).
Digital Breakdown: For 2015, NM ran 2,222 display ads on almost 8,000 publishers, according to Moat (10% mobile). Top ad destinations included: refinery29.com, glamour.com, shoppingandinfo.com, whowhatwear.com and bustle.com (18% placed site direct versus programmatically). NM also ran 353 high impact and four video ads last year. This is an increase from 2014′s display presence, when 1,440 display ads were run on 6,000 publishers (11% mobile).
In Q1 2016, NM has run 423 display and 63 high impact ads on 2,163 publishers (<1% mobile). This is actually a slight decrease from Q1 2015, when 578 display and 118 high impact ads were run on 5,881 publishers (12% mobile). This could be because NM moved display to Centro in November and all the kinks are still being worked out (more here).
Competitors: Saks Fifth Avenue, Barneys New York, Net-a-Porter, designer boutiques and other national, regional and local retailers. Nordstrom and Bloomingdale's feature a limited offering of luxury merchandise that competes with NM to a lesser extent.
One Marcus Sq.
1618 Main St.
Dallas, TX 75201
Director, E-Commerce Marketing
Account Manager – iProspect