-- "I like Nordstrom because they have the best shoe collection I have
ever seen. They are so well organized and fairly priced. If I could, I
would buy everything from there."
-- "Everyone in the store is committed to helping you, even if it is not
in their direct department. Selection is great and quality is never an
issue. If you have a problem, they take it back, no question."
-- "Their salespeople are really helpful and knowledgeable. I am buying
their expertise more than anything else when I shop there."
The LCEI asks high net-worth customers to rate luxury brands by category
across three equally weighted and detailed rating components: Complete
Satisfaction, Brand Personnel and Store Environment. The survey also
measures Problems and Resolutions, Worthiness of a Significant Price
Premium and Willingness to Recommend on the Part of Wealthy Customers.
The "Best of the Best" Luxury Retailers are: (LCEI score out of 10)
-- Nordstrom - 8.31
-- Neiman Marcus - 7.78
-- Brooks Brothers - 7.76
"Perhaps it is no accident that Nordstrom sales continue to outperform its
competition in a bruised economic climate, since the brand is an example of
a customer-adaptive 21st Century Luxury Enterprise," says Milton Pedraza,
CEO of the Luxury Institute. "Luxury retail clients tell us they look
for expertise and trust along with lasting value when they shop luxury, and
Nordstrom delivers that even in a down economy. As the luxury retail
industry finally sheds its Industrial Age skin and adopts organic,
customer-adaptive principles, we predict innovations from luxury leaders
such as Independent Customer Advocates sitting on Boards of Directors,
Customer Segment Managers running the business, and Customer Retention,
Customer Referral and Customer Profitability metrics taking their place as
the most critical metrics for the business."
The proprietary Luxury Customer
Experience Index (LCEI) survey is the only unbiased measure of true
customer experiences of leading brands among wealthy and ultra-wealthy
Americans. A national sample of 1,505 wealthy consumers was surveyed
online. Respondents have an average weighted gross annual household income
of $325,000 and an average weighted net-worth of $3.2 million. Survey
results are weighted to match demographic and net-worth profiles of the
same audience according to the latest Survey of Consumer Finances from The
Federal Reserve.
About the Luxury Institute (www.LuxuryInstitute.com)
The Luxury Institute is the
uniquely independent and impartial ratings and research institution that is
the trusted and respected voice of the high net-worth consumer. The
Institute provides a portfolio of proprietary publications and research and
consulting services that guides and educates high net-worth individuals and
the companies that cater to them on leading edge trends, high net-worth
consumer rankings and ratings of luxury brands, and best practices. The
Luxury Institute also operates the LuxuryBoard.com (www.LuxuryBoard.com),
the world's first global, membership-based online community for luxury
goods and services executives, professionals and entrepreneurs.
Contact Information: For Further Information, Please Contact: Evins Communications, Ltd. Dotty J. Giordano Director Enid Lewin Vice President Phone: (212) 688-8200 E-mail: dotty.giordano@evins.com E-mail: enid.lewin@evins.com The Luxury Institute, LLC Martin Swanson Business Development Phone: (914) 909-6350 E-mail: mswanson@luxuryinstitute.com