Report: Target, Neiman Marcus Line Launch Disappoints
Products from a much-hyped partnership between Target Corporation and luxury retailer Neiman Marcus hit the shelves this weekend, but analysts and customers alike were surprised that crowds weren’t bigger and sales weren’t stronger, according to a report by The Wall Street Journal.
The collaboration involves a 50-piece collection of clothing and household accessories that are being sold by both retailers. The launch “began with a whimper” and was “far from the bang the companies were counting on to improve holiday sales,” The Wall Street Journal reported.
Citibank retail analyst Deborah Weinswig took issue with Target for placing the collection in the back of the store, according to The Wall Street Journal.
For Target, the collaboration did not match the frenzy of last year’s limited edition Missoni fashion line, which sold out quickly and drew so much online traffic it caused the retailer’s website to crash.
But a Target spokesman told The Wall Street Journal that it is unfair to compare the two partnerships because the Neiman Marcus collaboration was conceived as a holiday gift collection designed to last longer, so it was more deeply stocked.
To read the full Wall Street Journal story, which requires a subscription, click here.
In a move unrelated to the Neiman Marcus partnership, Target on Thursday released a video of Executive Vice President and Chief Marketing Officer Jeff Jones, who joined Target earlier this year, discussing the concept of “creating content for the future.”
In the video, Jones doesn’t share detailed marketing strategies but does say that the retailer will focus on “content instead of campaigns,” adding that the company wants to create and share content while allowing “guests to speak on our behalf”—something he says will deepen customers’ engagement while also amplifying Target’s brand message. View the full video below.