How do you get shoppers to line up outside your store beyond Black Friday?
Try luring customers with high-end clothing at discount prices available for a limited time and in a limited quantity.
That worked for one mass retailer that recently teamed up with a fashion designer best known for designing first lady Michelle Obama’s inauguration gown.
The designer’s collection went on sale at midnight with items priced at $60 or less. By the next morning, the fashion line had sold out, according to an article at Business Insider.
Here’s why this is a great idea for retailers.
Bringing in a high-fashion designer drives more people into the store. But in addition to buying the designer’s clothing, people also will pick up items like groceries or household products while they’re in the store. That increases sales and brings in new customers.
“All of these collaborations are meant to drive traffic and drive buzz,” a senior level official with the retailer said in an interview with CBS This Morning. “When the collections are limited in time and there’s a limited quantity, it really creates a sense of urgency.”
This retail also had success last year with a limited-time offering of lower-priced clothing from a high-end Italian clothing line. Demand was so strong that it caused the company’s website to crash.
Other retailers would be wise to take notes and generate their own buzz by creating a similar marketing campaign.
Source: Business Insider, February 2012