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It makes sense given increasing retail crime; they're probably losing more than they're making from general foot traffic. Targeting higher spenders, preventing theft, and reducing headcount is a logical choice.
Looks like this is only for the Saks SF location though. It makes sense for their business 🤷🏻♀️ I go into Neiman Marcus Palo Alto all the time for their cookies and chocolates :) Eventually I will probably buy something more expensive there lol
Rising Star
It’s part of a larger strategy by the luxury department stores to target their key demographic— the ultra rich. I know my article below says Neiman Marcus but Saks is in the same category. People are scared to walk around San Francisco, I think this is more a security measure for their wealthy clientele to feel more safe and rich people love exclusivity. And of course a business will love the fact that layoffs will allow their bottom line to look better. 🙄
Neiman Marcus is only going after millionaire shoppers who spend upwards of $27,000 there
per year. The company has said that the top 2% of its customers drive roughly 40% of its total sales.
https://www.businessinsider.com/neiman-marcus-targeting-only-millionaire-shoppers-2023-2?amp
Well SF is garbage lol