Gen-Z, Millennial Opps: Neiman Marcus launches 3-month-long fundraising campaign in celebration of Black History Month

In honor of Black History Month, Neiman Marcus (NM) teamed up with the Fashion Scholarship Fund in support of the Virgil Abloh "Post-Modern" Scholarship Fund, which Abloh himself created in 2020. The company also scheduled in-store activations that include a celebration at 14 locations of Abloh's design legacy. To support this new effort, NM kicked off a three-month-long point-of-sale fundraising campaign in all of its 37 stores. The company will reportedly direct proceeds to both the aforementioned Scholarship and another new one that supports diverse youth who study sustainable and ethical fashion. Sellers with high-ROI cause marketing strategies should contact sooner rather than later to secure last-minute ad dollars.

NM's team is also growing; in January 2022, Kennedy George joined the company as brand experience lead.

In 2021, Pathmatics reports NM spent approximately $24.4m on digital ads, around 6x the approximately $4.1m it spent in 2020. The company ended up earning ~2.5b digital impressions last year via Facebook (58%), Instagram (18%), desktop video (15%), desktop display (8%) and mobile display (1%).

This sharp rise in digital spend and reliance on Facebook and Instagram ads lead me to believe that NM is primarily targeting Gen-Z and millennials. To do so even more effectively, the company may make future forays into additional digital channels such as podcast and/or OTT. According to Kantar data, NM also invests in print media, mostly via magazines. It additionally utilizes email. As I briefly mentioned, I suggest sellers able to offer relevant ad space get in touch soon to secure ad dollars from this new campaign since it'll end up being a three-month-long effort.

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