Survey Reveals Top Luxe Department Store Destinations Among Wealthiest Americans

Posted on June 15, 2011

A new Unity Marketing survey has revealed that Barneys New York, Nordstrom and Bergdorf Goodman are the top luxury department stores among ultra-affluents. Ultra affluents are defined as people with incomes of $250,000 and above. Unity Marketing also found that store patronage is down among ultra-affluents after peaking in the third quarter of 2010.

Pam Danziger, president of Unity Marketing, says, "These top retailers - who are known for being destinations for the wealthiest customers - can serve as both a model and a cautionary tale for others who would like to operate in this space. While the popularity of each store waxes and wanes quarter-to-quarter, the overall trend is that ultra-affluents are slowing their pace of shopping in the luxury department store sector. If the downward trend among ultra-affluents continues, each of these stores may have to rethink their approach if they are to remain a compelling and attractive ultra-affluent destination."
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