There is another interesting article (click here) over at Crain's New York about J.Crew's marketing tactics to get customers shopping.
J. Crew lures shoppers with cupcakes and jeans
By Adrianne Pasquarelli
October 3, 2008
Retailer J. Crew is pulling out all of the stops as analysts predict the worst holiday shopping season in years. To get shoppers through the door, Madewell, J. Crew’s casualwear shop, hosted a “Denim After Dark” party Thursday evening. Boasting a mojito bar, disc jockey and desserts, the party also offered “fit consultants” and discounts on denim and other items.
On a previous visit, shopper Shelby Donovan found a pair of jeans she liked but could not afford the $115 price-tag. Last night, lured by the promise of free drinks and cupcakes, along with a $25-off discount, she returned to Madewell’s Soho location to purchase the pants. “I probably wouldn’t have bought them otherwise,” she said.
The monthly event is the latest strategy implemented by the retailer to increase spending on its higher priced clothing as the economy craters and experts warn that deep discounting is no longer enough to motivate consumers.
Retailers, the experts say, need to step up marketing and promotions. Candace Corlett, president of WSL Strategic Retail, said that many apparel and design companies need to uplift shoppers’ moods by using humor and wit to prompt buying. Such a tool has been effectively utilized before by New York retailers such as Kenneth Cole, which is now employing political election witticisms to connect with shoppers.
Madewell’s parent company, J. Crew, can use all of the help it can get. Friedman Billings Ramsey analyst Adrienne Tennant initiated coverage of the retailer’s stock with a “market perform” rating, and its share price suffered a sharp 7% decline Thursday as a result. “We believe that the deteriorating consumer environment will next affect higher-income households, which we believe J. Crew primarily targets,” wrote Ms. Tennant in a note. In Friday morning trading, the company’s stock was flat at $25.36.
What do you think about the article? Do you think these marketing tactics will attract customers during the holiday season?
J. Crew lures shoppers with cupcakes and jeansBy Adrianne Pasquarelli
October 3, 2008
Retailer J. Crew is pulling out all of the stops as analysts predict the worst holiday shopping season in years. To get shoppers through the door, Madewell, J. Crew’s casualwear shop, hosted a “Denim After Dark” party Thursday evening. Boasting a mojito bar, disc jockey and desserts, the party also offered “fit consultants” and discounts on denim and other items.
On a previous visit, shopper Shelby Donovan found a pair of jeans she liked but could not afford the $115 price-tag. Last night, lured by the promise of free drinks and cupcakes, along with a $25-off discount, she returned to Madewell’s Soho location to purchase the pants. “I probably wouldn’t have bought them otherwise,” she said.
The monthly event is the latest strategy implemented by the retailer to increase spending on its higher priced clothing as the economy craters and experts warn that deep discounting is no longer enough to motivate consumers.
Retailers, the experts say, need to step up marketing and promotions. Candace Corlett, president of WSL Strategic Retail, said that many apparel and design companies need to uplift shoppers’ moods by using humor and wit to prompt buying. Such a tool has been effectively utilized before by New York retailers such as Kenneth Cole, which is now employing political election witticisms to connect with shoppers.
Madewell’s parent company, J. Crew, can use all of the help it can get. Friedman Billings Ramsey analyst Adrienne Tennant initiated coverage of the retailer’s stock with a “market perform” rating, and its share price suffered a sharp 7% decline Thursday as a result. “We believe that the deteriorating consumer environment will next affect higher-income households, which we believe J. Crew primarily targets,” wrote Ms. Tennant in a note. In Friday morning trading, the company’s stock was flat at $25.36.
What do you think about the article? Do you think these marketing tactics will attract customers during the holiday season?
