Wednesday, 29 February 2012
Things that are bought
Jewellery which people can come-in and ask for by name and/or model number and purchase are things that are bought. If the popularity, the branding or the marketing are that effective, and you’re not the one driving that demand, those products are eventually going to end-up discounted, sold on the internet, over-distributed or all three.
I hear the complaints. You invest thousands or tens-of-thousands of dollars into a branded program only to find that people are coming to you to find-out what your price is on a given model. They’ve already decided to buy that item independently of everything you’ve done to develop your business. The brand has usurped your best intentions and ultimately your business.
Flash-back to the last sentence in the opening paragraph. I said, “(if) you’re not the one driving the demand…”. Here’s the thing. If you choose to carry branded product, be the one to drive the demand. Make it part of your store’s marketing. Don’t let the brand take-over, because if the brand ever closes-down or walks down the street, so go your customers.