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This post is one in a series on prominent company nicknames. See all 25, and share your thoughts and memories about Needless Markup below in the comments.
Neiman Marcus may be the most successful upscale retail department chain that selected shoppers love to hold a grudge against.
The chain caters to primarily female, upper-income and upper-middle shoppers, and features designer lines that rival boutique (and beyond) price levels.
Further, while some of the products are decidedly exclusive, some are not or appear to not be, according to shoppers, but the prices of these items remain in the stratosphere, and it is for this reason that the store was tagged with the nickname "Needless Markup."
Here's a classic example. About a year ago Marie Lang, sister of yours truly, was searching for a leather shoulder bag. She found a medium brown, designer bag she liked for $1,200 at Neiman Marcus. However, being a discerning/critical comparison shopper, Marie of course took a few days to scout the competition.
The result? She found a comparable shoulder bag at Bloomingdale's for $595. Had she been willing to take a slightly smaller bag, she could have secured one for $395.
"You can't criticize the quality at Neiman Marcus or their ability to stay current with the latest design trends, but the store clearly caters to upscale shoppers," Marie said -- i.e., for shoppers for whom price is not a consideration.
If you have to ask about price ...
That category of exclusivity draws in certain shoppers, she said, who attach a chic-ness to exclusivity, but one consequence of that is overpaying for selected items.
Hence, the stance toward Neiman Marcus is: If you're in the category where you don't have to be concerned about price, enjoy!
But if you're not, before buying at Neiman, check Bloomingdale's, Lord & Taylor, and Saks -- you may save a great deal of money.
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