Online sales accounted for 44%, and Neiman's in the United States grew strongly

Recently, the US Neiman Marcus Group announced that it had raised another $1.1 billion in financing to improve the liquidity and flexibility of its company's financial statements.

Neiman’s online sales account for 44%

According to Neiman's latest financial report, in the six months ending January 30, 2021, Neiman's total revenue was US$1.63 billion, compared with US$2.42 billion in the same period last year. It is worth noting that in the 12 months ending January 30, 2021, Neiman's revenue was US$2.86 billion, of which 44% of sales were generated by online channels.

As of January 30, 2021, Neiman's overall inventory fell by more than 37%, down 24% from fiscal 2020. Not only that, Neiman's store sales fell by 47.3% in 2020. It can be seen that offline store sales are not as good as online sales, and online sales are booming.

According to Neiman, after the financing, it will strengthen the construction of e-commerce and cooperate with designers to launch new technologies and virtual activities to encourage consumers to shop online. Earlier this year, the company said it would invest $85 million in supply chain innovation, especially systems and fulfillment centers. It is reported that Neiman is implementing a new order management system and a new warehouse system, and investing in its Pinnacle Park distribution facility in Dallas.

Strengthening the e-commerce development process

The report shows that Neiman acquired a minority stake in Fashionphile Group for $17.2 million in April 2019. Fashionphile Group is an e-commerce company focusing on second-hand ultra-luxury handbags and accessories. From this, we can see that Neiman is about to embark on a new journey in the development of e-commerce.

In addition, the report also pointed out that 78% of Neiman's customers are women, 64% of its customers have a household income of more than $250,000, and about 30% of its customers have a household asset of more than $5 million. This shows that most of Neiman's consumers are high-end customers, and its strength cannot be underestimated.

In addition, about 46% of Neiman’s customers are millennials or Generation X, who are mainly active on social media. Data shows that in the past 12 months, about 30% of Neiman’s InCircle loyalty program members’ total U.S. revenue came from members who achieved reward status, and these customers spent about nine times more than other customers.

Neiman

Online sales

USA