As you read this, I am prepping for my speech at the RAC in Chicago, so retail has been on the mind for the past few days.
In doing some last-minute research l, just before bed, I stumbled upon this obvious common-sense gem in Brandweek about shopping psychology:
"Simply put, Americans
either like to flaunt
their thrift or wealth."
Had to laugh, because at dinner last night, I was wearing my new Ralph Lauren RRL jacket, which I had just picked up in Florida.
What makes the jacket special is not just the intricate, obtuse patchworking, but the price; it had originally listed at $3000, was marked down to $600, and I picked it up for 75% off that (that's $150 for those of you mathematically-challenged).
And what's funniest about this is that the deal was SO great, I still haven't removed the price tag from inside the jacket. It's become part of the story I tell each time someone comments on it. Most times, I even show it. Generates Pow! every time, too.
Crazy, but true.
Which gets me to thinking...perhaps retailers can think of a way to "reverse-psychologize" the flaunting system. On the wealth side, we will show off our designer names and logos loudly, but on the thrift side, the killer bargains remain stealthily anonymous (unless you're a widemouth like yours truly).
Is "75%-off" the new Gucci?