Nordstrom, now a private company owned by the founding family and other investors, and Saks Global, also privately owned and now including Neiman Marcus, are two of the biggest players in the better marketplace and each has launched new initiatives for the holiday shopping season in an effort to gain market share.
In the case of Saks, this comes as the company continues to deal with claims from some of its vendors that they are not being paid on time and may be restricting shipments to the company’s brands, which also include Bergdorf Goodman and the off-pricer, Saks Off 5th.
For Nordstrom, the season marks a more aggressive stance with investments and spending no longer tied down to the quarterly reporting that bog down public companies. One of the most visible of the company’s moves is its new 100-page print catalog mailed to its customers late last month. It features more than 800 gift items, ranging from apparel to home to toys. Kids in fact gets a prominent showing with nearly a quarter of the entire catalog devoted to toys and children’s clothing and gifts.
Many of the items are arranged by price points and the catalog also includes stickers gift givers can use on their presents. In-store, Nordstrom says it will highlight more than 1,000 gift items in holiday shops around the store, The New York City location has taken its two-story corner area that has been used for home and turned it into a holiday gift shop.
At Saks, the big news is the introduction of a Top Seller Program that offers store salespeople incentives when they reach certain selling levels. It starts at $1 million in annual sales and goes up to the Master Seller and Master Stylist levels when they reach $7 million in sales generated.
“This program is personalized, not prescriptive,” said Mary McGreevy, chief stores officer for Saks and Neiman, “meeting each sellers where they are and tailoring growth to their unique strengths, client portfolio and business goals.”
Certainly, other players in the upscale side of the market, including Bloomingdales and others, also have initiatives to drive holiday sales, making the top tier of retail more competitive than ever this holiday season.