The drugstore industry has taken a liking to masstige products – those that are similar to the prestige brands found at upscale department stores but sold at mass market retailers like drugstores and big-box retailers. But will customers remain willing to spend more on products sold in a place that also carries beef jerky and digestive aids?
More than a few eyewear companies, like Warby Parker, have taken the gamble – heresy of heresies – to offer consumers more of what they want for less. These so-called eyewear upstarts are placing realistic, yet far from ridiculous, prices on a complete set of glasses. Yet another example of the customer-centric business model gaining huge ground on the old product-driven one.
With one percent of the U.S. population controlling a little more than half of the country’s assets these days, how do marketers deal with the growing divide between rich and poor in America, aka the Wealth Gap? A look at how those on the lower end of the economic ladder could provide some insight. If you know your Charles Dickens, that is.
“He who has the largest store or number of stores will sell the most things between now and the end of the year.” Right? Maybe not. Bigger, alas, is not always better. But could larger operations with extra floor space actually result in lower sales numbers? Especially once the holiday shopping season stampedes into town? Is that even possible?
Mergers and acquisitions activity (M&A) in the U.S. has “jumped significantly” over the last year or so, with a number of large consumer packaging companies selling off non-core operations and brands. M&A also appears to be on the rise in Europe, particularly in the areas of jewelry and fashion. Does the end-consumer look to benefit from corporate’s rush to buy and sell?
It's not brand new information that colors easily stir up subconscious feelings, some troubling, others completely pleasant. Savvy retailers bank on this emotional correlation along the spectrum of Roy G. Biv to attract shoppers and encourage the opening of pockets and swiping of credit cards.
With customers shopping for deals locally and then purchasing those same items online – a practice known as “showrooming” – retailers are scrambling to win back sales from foot traffic. At the same time, online merchants are toying with brick-and-mortar presences that aim to match the competition, service for service.