Neiman Marcus SWOT Analysis
Neiman Marcus is one of the leading brands in the lifestyle and retail sector. Neiman Marcus SWOT analysis evaluates the brand by its strengths & weaknesses which are the internal factors along with opportunities & threats which are the external factors. Let us start the SWOT Analysis of Neiman Marcus:
Quick Glance:
Neiman Marcus Strengths
- American luxury specialty department stores
- Products include clothing, footwear, furniture, jewelry, beauty products, electronics and housewares
- Strong customer loyalty program
- Multi channel retail formats
- Strong luxury brand portfolio
- Premium customers are recession resistant shoppers with high discretionary spending
Above are the strengths in the SWOT Analysis of Neiman Marcus. The strengths of Neiman Marcus looks at the key internal factors of its business which gives it competitive advantage in the market and strengthens its position.
Neiman Marcus Weaknesses
- Limited marketing & global exposure compared to global brands
- Controversy of alleged fur usage & credit card fraud was a setback
These were the weaknesses in the Neiman Marcus SWOT Analysis. The weaknesses of a brand are certain aspects of its business which it can improve.
Neiman Marcus Opportunities
- NM’s entry into e-commerce
- Develop and cultivate the CUSP for mid-tier shoppers
- US online retail sales projected to grow
- Expansion of the brand in the global market
Above we covered the opportunities in Neiman Marcus SWOT Analysis. The opportunities for any brand can include prospects of future growth.
Neiman Marcus Threats
- Increasing counterfeit items
- Luxury and high end designers retailing their clothing directly through websites
- Intense competition can reduce market share
The threats in the SWOT Analysis of Neiman Marcus are as mentioned above. The threats for any business can be external factors which can negatively impact its business.
Hence this concludes the Neiman Marcus SWOT analysis.
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About Neiman Marcus
The table below gives the brand overview along with its target market, segmentation, positioning & USP
| Neiman Marcus Overview | |
|---|---|
| Parent Company |
Ares Management, CPP Investment Board, Leonard Green & Partners |
| Category |
Luxury Retailer |
| Sector | |
| Tagline/ Slogan |
Fashions best designers, plus beauty's best brands |
| USP |
finest fashion and quality products in an exceptional environment |
| Neiman Marcus STP | |
| Segmentation |
Men and Women apparel and clothing |
| Target Market |
Premium segment shoppers |
| Positioning |
premier luxury retailer recognized for merchandise leadership and superior customer service |
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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