Dear J. Crew: 600 Million Dollars is Chump Change
Hi J. Crew,
I heard some awkward news about you today. Seems like profits are down some 600 million dollars. And I can honestly say, that’s a lot of money. A lot. I’m on disability (FYI 2015 Goal: Get off Disability). But I did the math, and it would officially take me 500,000 months to earn 600 million dollars.
But I don’t have that kind of time, so I’m going to let you in on a little secret. There’s an untapped market. Literally and virtually untouched. And it’s waiting for you to break it open.
wait… I can do that better.
Assistive devices are a 31 billion dollar a year market.
I divided 31 billion by 600 million and I got the number 51 (and a bunch of 6’s). I’m not entirely sure what that number represents. But it is 51 times more than your profit loss.
Anyway, back to these devices. All of the products currently on the market are low in price point and homogenous in design. They are ugly. And stigmatizing. They are so obviously everything that J. Crew isn’t.
It’s amazing that these ugly and stigmatizing devices bring in 31 billion dollars in profits. Imagine what could happen if you made a little effort to sell some spiffed up assistive devices. That 31 billion dollar number could explode… The eyeglass market is an 81 billion dollar industry, and that’s just for one device. And I know you’re clearly aware of the potential for these profits, as I discovered your new reading glasses this weekend.
Surprise! They’re magnified!
A few more facts for you. Two thirds of assistive device manufacturers have admitted that they’re not investing any money into the research or design of innovative or beautiful products. That’s why they need you. Show them this is profitable and they’ll get their act together.
Last fact? I’d buy a cane from you.
So how ’bout it J. Crew? You think you cane? (Really, click on it. I dare you)
P.S. Like my new pants? I just got them at J. Crew. They really do a nice job of accentuating my cane.
P.P.S. I got the pants on sale. I would have paid more for them.