If your company currently manufactures a product or product line, or you are considering sharing a secret family recipe with the world, you must read this!
It used to be that the makers of consumer products–hair care products, perfumes, clothing, etc.–had to choose between amazing exposure and low-margin sales offered by mass retailers or the limited exposure and premium pricing offered by boutiques and other high-end retailers. Simple as this choice seems on its face, anyone attempting to launch or grow a product line, knows that it’s a hard choice. You can be the luxury or status symbol that only the rich and beautiful can afford, or you can be on a a side stack at your neighborhood Wally World. It’s the difference between being recommended by Oprah and being in the $1 Bin.
Well, your lives just got easier. Mass retailers are moving into boutique and department store territory offering premium and professional products and an upgraded shopping experience to match. The movement is called “Masstige”, mass retailers offering premium products. It’s being driven by greater consumer demand for prestige and premium products, greater disposable income and increased competition between mass retailers and smaller, more unique competitors.
Big-box retailers like Target are already offering clothing lines by couture designers. CVS, Rite Aid and Wal-Greens will all offer European beauty and spa products. And, grocery stores are picking up the torch as they rush to compete with Whole Paycheck Foods for quality-driven consumers with large disposable incomes. Walk the aisles of your favorite supermarket and you’ll find they are increasingly filled with “professional” and department store brands and high-design items.
This is a great opportunity for anyone who has been struggling to string together the right combination and number of boutiques to build a following for the product(s) and earn a living. And, for those who have been struggling to maintain their profit margins while also getting their product(s) on the shelves of mega-chains.
Now you can position your product as premium, or create both premium and reasonably priced lines.
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