PRIMARK BLUEWATER, UK 2019
Perception of Luxury Versus Mass-Market & Masstige
Loss Leader Strategy
I discussed this yesterday with my Course mates on the Visual Merchandising Course I am currently taking at The Learning Shop, Bluewater Shopping Centre. You can read more on the Course on my previous post.
No one believed me when I said that Retailer have Lines or Branches that don’t make any money. It’s a Strategy known as Loss Leader that I was taught at #Wharton, I also spoke about Masstige.
According to www.dictionary.com
noting or pertaining to goods that are perceived to have prestige or high style but are affordable for a wide range of customers:
This five-dollar bottle of hand cream is aimed at the masstige market.
the perception of exclusivity and stylishness in goods that are affordable:
Many teenagers are drawn to masstige.
Origin of masstige Expand
mass(-market) + (pres)tige
It’s often better to communicate by writing I find. I am still working on being succinct. Ruth Howard of What If Gallery is my Icon for Communicating Effectively and Succinctly. When I ramble on as I do, she has the skills of bringing me back to what the _______ I was supposed to be taking about in the first place ⭐️⭐️⭐️⭐️⭐️
Sometimes a Global Company or Business in any Industry can choose strategically to incur loss.
This is because by taking a hit now and even for the next say 10 years or God forbid into perpetuity.
The Business is playing a Long Term Game as opposed to Short Term…
I know it sounds Crazy but please stick with me…
By opening on Oxford Street a decade ago, suddenly Primark was able to already tap into a secret that many customers, fashionistas and top Fashion Editors already knew…
I know a couple of friends on high incomes, who buy beautiful matching lingerie in #Primark AKA #Primarnie Because the designs, fit, Colour & Quality are #Great So who really cared what the label on the back says. If it bothers you so much you can always cut it off or wear it with Pride.
Unfortunately, if you possess a well endowed (Pardon me if this is not a Political Terminology) you will still have to go to #Bravissimo as Primark do not have larger cup sizes.
Suddenly International Tourists who we know fund our retail economy were drawn in by the Oppulent Exterior, Fantastic Shop Front Displays.
It is also strategically positioned adjacent to our Global Shopping Paradise that great emporium and the. World’s 1st every Department Store…..drumroll …..SELFRIDGES!
The Sloane Rangers and Kensington Mums, who would never have been caught dead Shopping in ANY Primark began to waft in and even boasted of their bargains that they insisted could compare to some aspects of High End Fashion at a fraction or should we say minuscule ratio of prices.
I saw a Gorgeously Dressed Englishman at my local Pharmacy sometime ago and as I tend to do told him so.
He proudly told me he had purchased the Tan Price of WalesTweed Blazer I was admiring from Primark the previous winter.
I would NEVER have guessed.
“Loss Leader Strategy
A business strategy in which a business offers a product or service at a price that is not profitable for the sake of…
Primark has confirmed that it is to open a store at Bluewater. Following KentOnline's exclusive report this morning, a…www.kentonline.co.uk
A business strategy in which a business offers a product or service at a price that is not profitable for the sake of…www.investopedia.com