Back in 1999, former Harvard University Professor, and now Professor Boston University, Juliet Shor introduced the ‘lipstick effect’ theory in her book entitled The Over Spent American (1999). Her thesis: Consumers will buy higher-priced, more prestigious lipsticks, specifically Chanel, that are used in public, vs. lower-priced, less prestigious brands that are used in privacy of the […]
Archive | June, 2016
Luxury Brands: Tell New Stories for Your Most Profitable Customers
Brands need new stories to tell that connect with the next generation’s values and mindset In a recent Adweek article about five trends shaping the future of retail, Christopher Brace, CEO at Syntegrate Consulting, made it crystal clear: Brands need to tell new stories to capture the next generation customers. On the need for effective story […]
How to Get Affluents to Spend More: Make It Really Worthwhile!
It’s all over the news — the rich are getting richer, as this recent New York Times article asserts. And it’s true: The affluent consumers at the top 20% of household incomes are sitting pretty financially and their numbers are growing. But it’s not the affluents’ positive financial circumstances that will influence their spending on […]
Is Your Marketing Department on a ‘Fast-Food’ Diet?
Back in 1954 in the classic business book, The Practice of Management, Peter Drucker wrote: Yet how many businesses manage, staff and budget their marketing departments as their ultimate competitive weapon? Is the business failing to thrive because the marketing department lacks the proper ‘nutrition’ in the form of market research to use to create […]
Sunset Seminar at Forty One Madison (August 22 @ 6 p.m.) for Summer Gift Buyers, NY NOW
Join me at Forty One Madison on August 22 @ 6 p.m. for a special “Sunset Seminar” about how to make your tabletop or gift shop POP! I will be sharing highlights from my new book Shops that POP! 7 Steps to Extraordinary Retail Success offering insights and advice to brick-and-mortar retailers on staying competitive, […]