The Luxury Institute reported Thursday that Nordstrom department stores ranked first in its annual report of top-rated high-end retailers.
According to the results of its annual Luxury Customer Experience Index, Neiman Marcus was rated second and Brooks Brothers rated third among wealthy consumers who were polled online about such areas as satisfaction, personnel and store environment. Respondents had an average weighted net worth of $3.2 million.
“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,” said Milton Pedraza, CEO of the Luxury Institute. “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 … [becoming] the most critical metrics for the business.”