What: Neiman Marcus and Bergdorf Goodman owner seeks to revolutionise luxury experiences through digital innovation.

Why it is important: Fashion brands are leading the charge in boosting their investments in technology, estimated to grow from 1.6% and 1.8% of sales in 2021 to between 3 and 3.5% by 2030.

For brands and retailers, the focus of digital investments is revolving around technologies that offer the greatest impact to clienteling, their sustainability impact and back-of-house operations, to best position their businesses for the opportunities to come and see a measurable impact on their bottom line.

Recognising the significance of technological advancement within the industry, Neiman Marcus has dedicated over USD 200 million to digital innovations, with a focus on in-store and supply chain investments. To meet its customers’ expectations to access retail anywhere, any way they choose, the company is strategically advancing tech programmes across its stores, e-commerce platforms and digitally assisted remote experiences.

Neiman Marcus recently partnered with Farfetch Platform Solutions (FPS) to replatform the Bergdorf Goodman website and mobile app, and open it up to international expansion. Farfetch has also made a USD 200 million minority common equity investment in Neiman Marcus to further accelerate the company’s growth and innovation through investments in technology and digital capabilities.

Neiman Marcus has reimagined its technological approach from the bottom-up, doubling down on its commitment to integrated luxury retail by equipping its workforce on the shop floor with digital selling tools such as the “Connect” platform, powered by the SaaS programme Stylyze. Stylyze provides product attribution data, as well as digital outfit and room builders. Within its digital expansion strategy, Neiman Marcus has opened a hub in India to support the group’s daily operations.

Neiman Marcus is looking to plug in other external technologies that ultimately support the brand experience they are trying to create.

Neiman Marcus Group optimising its digital transformation