Research Proposal: Online Retailing and Fast Fashion at Neiman Marcus

This research proposal examines Neiman Marcus's business strategies, focusing on its consumer-centric approach, online retailing, and the impact of fast fashion. The study investigates the use of online platforms, loyalty programs, and mobile applications to enhance consumer engagement. It analyzes market trends, employs a Pestle analysis to evaluate political, economic, social, technological, environmental, and legal factors influencing Neiman Marcus's operations. Primary data, collected through interviews, and secondary data from journals are used to address research questions regarding the effectiveness of online retailing and fast fashion. The proposal suggests strategies to increase consumer engagement through personalized shopping experiences, smart in-store technologies, and unique showroom concepts. The conclusion highlights the challenges and opportunities Neiman Marcus faces in adapting to the evolving retail landscape and maintaining its competitive edge.

RESEARCH PROPOSAL
STUDENT NAME:
COURSE NAME:
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TABLE OF CONTENT
Introduction……………………………………………………………………………………….3
Trends……………………………………………………………………………………………..3
Analysis……………………………………………………………………………………………5
Framework………………………………………………………………………………………...5
Suggestions………………………………………………………………………………………10
Conclusion……………………………………………………………………………………….11
Reference………………………………………………………………………………………...12
Appendix…………………………………………………………………………………………14
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Introduction:
Neiman Marcus is a leading UK retailer operating with several leading channel retail terminals.
The organization is known for providing people with products like stylish clothes, accessories,
unique products, decorations, and home decor. Headquartered in Dallas, Neiman Marcus
employs more than 14,700 people in all its stores in various urban communities across the United
Kingdom (Shu. et al., 2017).
Trends:
The consumer-centric approach of Neiman Marcus:
The organization’s website states that Neiman Marcus ’regular consumer is someone with
modern fashion thoughts in every field (Dewar, 2017). Their main target buyers are
exceptionally wealthy and expensive. Records show that Neiman Marcus' $ 100,000 major
clients spend $ 1.2 billion annually, while the average consumer spends $ 11,000 per year
(Dewar, 2017). With 1 in 125 people being a hub, it is part of the fastest growing corporate
sector in the United Kingdom (Dewar, 2017). Neiman Marcus buyers are exceptionally
demanding, and shareholders demand better quality products and better management. The great
thing about this is that these buyers will pay for these high-quality orders.
Neiman Marcus has worked hard to ensure that its products are widely distributed and positioned
its image at the highest point in the market (Dillon, 2017). In order to improve its products and
services, Neiman Marcus uses online media sites such as Facebook, Twitter, Snapshot, LinkedIn,
and others. With an online business webpage and website and email, Neiman Marcus discovered
how to improve their products, interact with buyers, answer questions, and provide uninterrupted
consumer support services. The organization also has a loyalty program that gives buyers reward
points for anything they buy. The organization is not left behind in terms of mobile applications.
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They have an iPhone and tablet app on iPod. The organization also has a mobile app optimized
for all cell phones (Kim. et al., 2017).
Online retailing:
The Neiman Marcus team understands the needs of their clients, and in this context, the
organization has reached out and put in place some improvements in their online store. The
organization has been in business for over 90 years and has opened 37 stores and opened an
online store to reach a wider audience. Neiman Marcus maintains a sense of restraint and
exclusivity. Neiman Marcus understood how to turn online shopping encounters into
extraordinary experiences to discerning buyers in terms of the shopping experience. Its stores are
historic collection centers lined with products from all over the world for buyers to see. It only
offers events and programs to employees, which confirms its image (Luckic, 2020). The
organization is also successful
Its suppliers undergo complete consumer service and production offers, and 200 hours of product
confirmation for new models are offered after the year and then 160 hours of production. The
staffs are ready to maintain a reliable and personal relationship with clients. The organization's
strategies have provided Nieman with a solid platform against its competitors by maintaining
consumer service and providing new advice from its buyers (Phillips. et al., 2019).
Fast fashion:
Neiman Marcus is currently can try fast fashion. The organization has an exceptional following
and aims to attract comfortable and expensive elites from all over the world. The rest of these
will be great functionality, and on top of that, the Neiman Marcus loyalty program places them at
the top of the list for quality designs. However, the organization faces very great difficulties, and
it must be careful how it handles these issues for the sake of its long-term maintenance. First of
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all, Nieman is very selective, so they have to be very careful when opening new stores. The
decision to open new stores is expected to be very restrictive because multiple opening stores can
weaken their image and threaten the ability to provide the best service they demand from buyers.
Analysis:
Aim:
To increase the consumers through online retailing and fast fashion to maintain the consumer-
centric approach
Research question:
 Does online retailing increase the buyers of Neiman Marcus?
 Does fast fashion increase the satisfaction of buyers?
 Does Neiman Marcus succeed in a consumer-centric approach?
Primary data collection and secondary data collection:
The primary qualitative data can be collected from Neiman through the telephonic interview, and
the sample size is 25, and through I analyzed the preference of consumer towards online retailing
and fast fashion, which will improve the consumer-centric approach.
The secondary qualitative data is collected through the online peer-reviewed journal acquired
through research gate, Elsevier, and Google scholar and exhibited through Pestle analysis.
Framework:
Pestle analysis:
Political analysis:
Role of Local Governments - Local Governments, are deeply involved in the organizational
training and implementation cycle. The local government implements most strategies and
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guidelines because the requirements offices usually report to the local council in their respective
states with various laws (Dawson. et al. 2020).
Opportunities for internal unrest and unrest in the country - We do not believe that Neiman
Marcus' business activities threaten public unrest or acts of domestic aggression in the country.
It was dividing political responsibilities between different government agencies. Many
government agencies reduce the risk of coping with stress through the office, which, in turn,
increases the time and cost of collaborating to obtain certifications and approvals (Takikawa and
Sakamoto, 2019).
Economic analysis:
Employment rate - If the employment rate is high, it will double Neiman Marcus 'strategies -
will give enough buyers to Neiman Marcus products, and Neiman Marcus' employment will
increase the cost of the talented and talented cast (Tumjanda. et al.,2018).
Income from Consumer Expenditure - In contrast to the UK market below the 2007 level,
household income has increased somewhat, not increased since the mid-1980s. Neiman Marcus
can use this method to expand the market beyond its traditional buyers using a separate
marketing initiative.
Social analysis:
Immigration Policies and Immigration Status - It will help Neiman Marcus decide – the
organization can use its global ability to operate in that particular market whenever the need
arises (Barefoot. et al. 2021).
The Nature of Social Agreement between Government and Community - Before entering the
market, Neiman Marcus must understand the mutual agreement between government and
community. For example, it is very difficult for American companies to infiltrate the British
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luxury goods market because the British social system is a nationalized one, all of which have
been subject to decades on a public level.
Technological analysis:
5G Infrastructure Product - Countries around the world are ready to introduce 5G
infrastructures. To enable the availability of Neiman Marcus 5G, the organization needs to
estimate the exact size identified in the neighboring market (Chi and Chen, 2019).
Mobile and Internet Browsing - Neiman Marcus should assess the extent of web and mobile
browsing in the country by developing a basic business model based on neighborhood needs and
real factors.
E-Commerce and Related Infrastructure Development - E-Commerce is at the heart of the
Neiman Marcus business model. Therefore, before entering any other market, the organization
needs to evaluate the internet business infrastructure, technical infrastructure.
Acceptance of Mobile Payments and Fintech Services - One area that the UK missed behind
China is one that the UK has missed. As a result, Neiman Marcus must balance the decision to
premium the preferred mobile phone in the neighboring economy and choose a business model
to trust (Gomez, 2021).
Environmental analysis:
Environmental standards and regulations at the national and local levels - Climate strategy
is often unique at the national and provincial levels. However, it can help Neiman Marcus with
various options, for example, plant area, material optimization, and evaluation method (Scott. et
al. 2020).
Impact and performance of environmental agencies - The function of climate-based licensing
systems is essential to protect standards. However, in most developing countries, these
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companies postpone the session as a profit recovery strategy. Neiman Marcus needs to know that
such practices exist in a country.
Legal analysis:
Consumer Protection Laws - Neiman Marcus needs to understand what consumer laws are, the
speed of implementation, the expert mindset of consumer protection laws, and what committees
are active in enforcing consumer protection laws.
Labor Laws - Whatever the country's labor laws are, they align with the Neiman Marcus
agenda. So, for example, Uber's structure does not comply with French laws, and the country
faces difficulties.
Transparency of the Judicial System and Processes - Transparency is the basis of a fair and
coherent movement. If the cycle is consistent and straightforward, Neiman Marcus can create
more confidence.
Intellectual Property Protection - Neiman Marcus must assess the level of protection afforded
by patent rights granted under the country's common law (Karanja and Rosso, 2017).
Labor Laws - Before entering a new market, Neiman Marcus must evaluate how labor laws are
and how they differ from the local market.
Primary data framework:
Primary data analysis:
1. Gender:
Female 15
Male 10
2. Preference of buying Neiman Marcus buying online :
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Extremely often 15
Slight often 4
Quite often 2
Not at all often 3
Moderately often 2
3. Attractive points to buyers in Neiman Marcus:
Quality 10
Trendy products 10
Consumer service 5
4. Do you trust the online purchase from Neiman Marcus?
Yes 20
No 2
May be 3
5. Does online purchase promote a consumer-centric approach?
Yes 20
No 2
May be 1
6. Does the fast fashion method attract buyers?
Yes 20
No 4
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May be 1
Suggestions:
In today's high-risk world, businesses need to invest more energy to retain buyers. Companies
strive to maintain the right experience for every consumer. There are many points to find
consumer interactions with fast fashion products in store. Despite this, most companies stick to
paying as buyers as they are offered alternative ways to combine whatever they buy with a clear
business personality. It offers additional benefits to buyers with such cards and encourages
buyers to obtain them. Many people love to shop from home and have everything they need with
just one click. The combination of in-store consumer preferences, online shopping experience,
and retailer behavior will help them personalize their fast fashion products. It allows companies
to recommend fast fashion products to buyers who trust screening. The in-store shopping
experience is also interactive by having the consumer contact the organization's tools in their
store and then suggesting what the consumer can buy in-store.
The store experience can be enhanced by adding smart in-store partners such as smart mirrors
and computerized store partners in equipped rooms and helping buyers with their purchases.
This study describes the approach to increase Neiman Marcus's growth rate to start with unique
showrooms with stones and gifts. Due to the considerable increase in this product offering, the
organization has the right to own and use its showrooms. Neiman Marcus is exceptional
compared to other gemstone retailers for their excellent fast fashion products with extensive
consumer ratings. Neiman is by far the most popular brand, and their jewelry/gifts are in store
and always needed for the office. None of their competitors, such as retail chains/charters, had
ever thought of setting up showrooms before.
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Moreover, their biggest rival will be Tiffany, who is neither a driving force nor a style. It can be
a risky arrangement, but it is best when the return on investment and invested capital is needed.
Neyman has various options to create naturally, either by managing buyers, managing existing
stores with full lines, or using different fast fashion products for the exhibition. However, these
alternatives have evolved, there is not much room for development, and the cores of creators are
multiplying. The development of another retail idea is an invention, and Neyman Marcus is
noticed by the comprehensiveness of their stores and their showrooms and stores, although they
were subsequently enlarged.
Conclusion:
Neiman faces a challenge with online retailing. With the advent of information technology, most
companies offer online shopping options to their buyers, but Neiman offers that help, and they
are in the initial stage. Therefore, the organization needs to start providing this assistance at a
high level to attract a diversified consumer base worldwide and maintain healthy competition
above its top-level competitors.
Unlike other brands such as Gucci, Prada, Calvin Klein, and Drovers, the system has a limited
global presence and has opened retail outlets in many countries. For a long time, Neiman wanted
to see their sales outlets worldwide grow, and they wanted to expand and attract the consumer
through fast fashion around the world so that they would not give up the usual closeness to
buying the best clothes and this will enhance their consumer-centric approach (Eiselt. et al.
2019).
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REFERENCES
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internationalization: exploring the role of family business identity through narrative analysis.
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Dewar, R.D., 2017. Consumer Focus at Neiman Marcus: "We Report to the Client." Kellogg
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Dillon, J.Z., 2017. Standing on the Wrong Foot: The Seventh Circuit's Eccentric Attempt to
Rescue Risk-Based Standing in Data Breach Litigation [Remijas v. Neiman Marcus Grp., 794 F.
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MoMA. Materia Arquitectura, (19), pp.116-120.
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