According
to the WSJ, the incredibly well advertised Target and Neiman Marcus holiday
collection has surprised shoppers and analysts alike. The 50-piece collection
created by 24 high-end designers debuted on Saturday with less than spectacular
sales. Even though the collection was designed to last throughout the season,
stores prepared for a larger volume of traffic than actually occurred. Both
companies have reported brisk online business and still express confidence in
their partnership.
Personal Interest:
As a fan of
the show Revenge, the commercials for
this collection peaked my interest a few weeks ago. I commend the media
planners for selecting such an appropriate show to complement their promotion. Although
I am not a designer-conscious shopper, the partnership caught me by surprise. I
never expected a high-end super market to collaborate with a high-end
department store. After looking over the items offered, it is not surprising to
see that some products have sold out on the Neiman-Marcus website but it was
surprising to see those same items still available on the Target website.
Industry implications:
This
collection has helped position both brands in front of new markets. The fact
that affordable luxury is accessible to virtually everyone should theoretically
boast sales for both companies. The participating designers also increase their
notoriety outside of the fashion community. Considering the present state of
the economy, high-end designers need to find ways to stay relevant and maintain
holiday demand. The expensive primetime ad spots also proved to be an effective
medium for building awareness.
