Luxury retailers were some of the hardest hit by the recession this year. Keeping in mind the reduction in sales and the slide in demand for luxury goods, well-known luxury retailer Neiman Marcus unveiled a luxury “lite” Christmas catalog this year. The Christmas Book, which is known to feature some of the most opulent and luxurious items, has been toned down this year, keeping in mind the current market situation. The most expensive item in the 2009 catalogue is a $250,000 Icon A5 sports plane followed y a $105,000 Jaguar and a $73,000 Mission One electric motorcycle- called the world’s fastest electric sports bike. There is also a cupcake shaped car in the catalog for a mere $25,000. For art lovers, there is the $8,500 artwork whose focal point is a preserved African Flower Beetle signed by artist Mike Libby.
For the intellectuals, Neiman even offers to arrange a private dinner party with some of the world’s sharpest minds (like Henry Louis Gates Jr., Christopher Buckley and George Stephanopoulos) for $200,000 at New York City’s Algonquin Hotel.
Compared to the earlier years, this catalog is definitely more modest. Even holiday “hot toys” are skewed toward price tags under $100, in line with consumers’ frugality. In fact, more than 40 percent of the retailer’s roughly 400-holiday items are under $250! This catalog clearly shows that the market is far from recovered from the harsh economic climate.
[Reuters]
