Survey Reveals Top Luxe Department Store Destinations Among Wealthiest Americans
Posted on June 15, 2011A 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."