Last Updated on December 27, 2021 by Laura Ritterman
Well known for its chain of American luxury department stores, Neiman Marcus is a name you probably already know. The better question, however, is what price match and adjustment policies does this company offer?
Fortunately, this blog is here to assuage all your worries by presenting you with all the details regarding the Neiman Marcus price match scheme! In addition, to clarify any related issues, we’ve also included a section on the Neiman Marcus Price Adjustment.
So, what are you waiting for? Jump right in to find out more about Neiman Marcus’s price policies!
Table of Contents
About Neiman Marcus – A Look at the company itself
Headquartered in Dallas, Texas, Neiman Marcus is, as already mentioned, the owner of an American chain of luxury department stores, making it a well-known brand in the United States of America.
After facing bankruptcy in 2020, partially due to the COVID-19 pandemic, the Neiman Marcus brand is now owned by a collection of investment boards.
Nevertheless, it remains a multinational corporation in the west and is sufficiently famous as a supplier of apparel (particularly for women), accessories, and home furnishings.
Subsequently, the company is known through its retail stores and online platform.
Of course, there are some limitations faced by Neiman Marcus customers, and one of them is its price match policy. Or, in this case, the lack thereof.
Are you interested in learning more about the details and story surrounding Neiman Marcus’s price policies? No need to wait anymore! We have it all here for you to read, understand, and enjoy.
Understanding the Neiman Marcus Price Match Policy
To begin, we should first break down this topic into sections that are easier to understand.
While avid shoppers would most likely recognize the term “Price Match,” we should define it just to make sure no confusion is left behind. Following that, we can consider the details regarding Neiman Marcus, particularly its price match policy.
What is the Price Match Policy?
In simple terms, price matching is when a store offers to match a competitor’s price for a particular product. This is, of course, limited by two rules:
- Identical Product – The product must be the same
- The competitor’s price is lower
Price matching is a great way to save money on purchases from various retailers because you become eligible to receive the product at the lowest price possible.
This is only possible if you find your purchase at a lower price somewhere else, though!
Does Neiman Marcus Price Match?
Unfortunately, up till now, Neiman Marcus does not offer a price match policy. This facility is not given for customers to avail, even though the company continues to keep up with the industry standard and desires to provide high-quality products at a reasonable price.
Still, there is an alternative that it offers, which you can currently take advantage of.
The strategy that Neiman Marcus is upholding is the price adjustment policy, which is clearly approved by official sources as it is mentioned on its website.
Want to know more? We’ve included a few pertinent details that might interest you
Understanding the Neiman Marcus Price Adjustment Policy
As we’ve already talked about, Neiman Marcus doesn’t promise to price match.
Thankfully, though, there’s always the helpful price adjustment policy that comes in handy.
But the question in this is, what does that policy define, and how can that cover up for the lack of price matching in the company’s official marketing strategy? These are a lot of problematic issues, right?
So, let’s break up the topic again to make it easier to digest!
What is Price Adjustment?
Price adjustment, also aptly named price protection, is an oft-adopted retail practice in the US.
Through this, customers are liable to receive a partial refund of their purchase price of a particular item if they can prove its sale at a lower price anywhere else within a fixed time frame.
If the lower price is shown (and proven), retailers generally adjust the product’s price and return the extra payment to you.
This is generally done within 14 to 30 days, although variations exist for different retailers and companies.
What does Neiman Marcus’s Policy of Price Adjustment include?
Neiman Marcus does indeed uphold the policy of price adjustment. As such, it is willing to provide you with a partial refund if you return with proof of lower price within the given time limit of 14 days.
Of course, this does not mean that the company will exchange your product. You will only be liable to receive the refund depending on the difference within the price tags of both stores.
Still, the product you would like to be considered for price adjustment can either be from Neiman Marcus’s retail stores or its online catalog – both are equally accountable within its policy.
This being said, there are still certain restrictions that come with its policy, even beyond the time limit of 14 days. So, we must visit those to provide you with a clearer picture of the policy as a whole.
This doesn’t mean they will exchange your product or anything. They will simply refund you the amount. That amount would be the difference between your paid price and the current price of that product.
This being said, there are certain restrictions that come with their policy. There is a time limit of 14 days. Within 14 days of your
purchase, you should request for the price adjustment, after that they won’t accept your request. The purchased products could be from either of the Neiman Marcus shops. It could be from their retail store or online.
However, Neiman Marcus is a bit tricky in that they offer the price adjustment policy under certain conditions. There are some exclusions and there are certain boundaries under which Neiman Marcus works out this price match policy.
What exceptions does the Neiman Marcus Price Adjustment Policy have?
While the company offers a few concessions through its policy, that does lead to a few exceptions that must be made. After all, it can’t leave every product or every competitor open for consideration for a price adjustment, right?
- There is a list of competitors that are directly involved with its industry or are present within a specific dimension.
- The company should be legal and listed in the industry.
- Only products from these competitors will be considered for price adjustment.
- The Neiman Marcus store price adjustment policy does not include the products purchased from the Neiman Marcus outlet.
- As already mentioned, the company will only consider the price adjustment within 14 days of purchase.
When you think about going to the company to contest the price, make sure you fulfill these requirements, or you might end up blindsided!
What is the process of Price Adjustment at Neiman Marcus?
Since you probably have a basic understanding of price adjustment and Neiman Marcus’s policy regarding it, it’s time to jump to the next important step – the process of applying and receiving.
Here are a few tips that will help you the next time you feel like you deserve price adjustment for a product from Neiman Marcus:
- The most important thing is that you can’t just go and claim you saw the company’s competitors selling the same product at a lower price. Instead (and more professionally, too), you will have to submit a proof of claim/prove.
- Remember that Neiman Marcus only accepts the price adjustment request if the competitor’s product matches the number, size, and color of your purchased product.
- Only after going through the entire process and ending up with a valid request and claim will you receive the price difference as a refund.
Nevertheless, Neiman Marcus will have the right to check your claims about price adjustments for falsification and proof. The checking process will determine whether it will accept or reject your request.
FAQs
Unfortunately, Neiman Marcus does not offer price matching as part of its marketing policy.
Yes, it does offer a price adjustment policy. If, within 14 days, you can submit the necessary documentation for a price adjustment, the store will adjust the price on a given product.
Neiman Marcus filed for bankruptcy on May 7th, 2020, due to huge debts after being hit by the COVID-19 pandemic. In total, five stores and seventeen off-price Neiman Marcus last call stores shut down in the face of these claims as per the court documents.
Due to several internal issues and bankruptcy claims, a few Neiman Marcus stores had to close, which include the following: • Chandler Fashion Center in Chandler • Arden Fair in Sacramento • Paseo Nuevo in Santa Barbara • Galleria at Tyler in Riverside • Calif, Waterside Shops in Naples • Stoneridge Shopping Center in Pleasanton • Northeast Mall in Hurst • Short Pump Town Center in Richmond • Annapolis Mall in Annapolis • Dadeland Mall in Miami • The Mall of San Juan Blvd. in San Juan • Westfield North County in Escondido • Freehold Raceway Mall in Freehold • Montclair Place in Montclair • Clackamas Town Center in Happy Valley • FlatIron Crossing in Broomfield Does Neiman Marcus Price Match?
Does Neiman Marcus Price Adjust?
Did Neiman Marcus file for bankruptcy in 2020?
Which Neiman Marcus stores closed in 2020?
The Takeaway
As promised, here is a summary to wrap up the blog and provide you with a way to condense the information into a short list that covers the main items that it covered:
- The definition of price matching
- The non-availability of a policy on price matching by Neiman Marcus
- The definition of price adjustment
- The availability of a price adjustment policy by Neiman Marcus, alongside the process and limitations
You can always revisit this blog for clarification or reminders regarding the topic.
We hope this was helpful and cleared up all your confusion regarding Neiman Marcus and its price policies!
You can share this blog with your friends and family to spread the word and allow the people you love to effectively utilize the price matching and adjustment policies at Neiman Marcus.
If you have any problems or tips, feel free to comment! We’d love to hear your perspective and improve our blogs.
Leave a Reply