Neiman Marcus unwraps holiday book

NBC
Published: October 8, 2008

Neiman Marcus unveils its Christmas book amid the worst economic crisis.
 
“It’s certainly challenging, part of the fun of the Christmas book is that it gives people a fantasy, and when times are tough, what better thing to have?,” said Neman Marcus’ Ginger Reeder.
Like the end zone from Texas Stadium installed in your backyard for half a million bucks.

Playing with the Harlem Globetrotters $110,000.

Or a really hot motorcycle for the same price.

And then there’s a life-size Lego sculpture of yourself, a mere 60-grand.

One advertising expert says the timing is tricky.

“I think there is a risk in over opulence when the majority of the nation is very frightened,” said college advertising professor Patty Alvey

Neiman Marcus is already feeling the pinch. The company lost more than 35 million dollars in the last quarter, and the CEO says he expects more tough times because the retailer’s best customers are heavily invested in the stock market.

But the Christmas book is an important part of the retailer’s image, no matter what the economy looks like.

“We’ve been through hard times before, we’ll be thru ‘em again. We just need to find the best there is out there,” said Reeder.

And there is one other fact that’s easy to forget right now.

“Even in dire economic times, there are people who can afford that level of expense,” Alvey said.

For the rest of us, these are exactly what Neiman Marcus calls them fantasy gifts.

In case you’re wondering, the Christmas book does have items for the rest of us.

Some are priced under $50.00