Recently, numerous style movers and shakers were invited to the opening of a boutique featuring the work of a new Italian shoe designer, Bruno Palessi. Shoppers were impressed by the unique designs and incredible workmanship, and many paid hundreds of dollars to snag a pair of the latest hot brand.
There was only one problem. There’s no shoe designer named Bruno Palessi. The opening was an advertising stunt devised for Payless Shoes, a discount retailer that has been seeing a decline in business over the past several years and is hoping shoppers will rediscover their shoes. The shoes those unwitting shoppers paid hundreds of dollars for – and rhapsodized so eloquently about – were the same ones that retail at Payless for about $30. (The
suckers shoppers got their money back and were given the shoes for free.)
Such is the role of perception in our buying decisions. Who among us has not been impressed by a fancy-sounding name or upscale look? I know I often assume that the pricier item is the better one whether I’m purchasing a sweater or a set of headphones.
And branding is another powerful motivator of buying decisions. Designer labels and brands that become instantly popular carry a lot of weight with shoppers, who are willing to pay much more for the “real thing.” Take Uggs, those delightful sheepskin imports from Australia. All things Ugg are way more pricey than their no-name counterparts. But I would contend that my “Fuggs” (fake Uggs) are just as cozy, cute and durable as the expensive name brand ones.
It’s not just apparel either. I remember when my oldest was about 9 or 10, and the Razor scooter was de rigueur for any self-respecting preteen. With my inherent cheapness, I attempted to buy a different brand of scooter but was told in no uncertain terms that it had to be a Razor and none other. And, of course, we need look no further than Apple to realize that once a brand takes hold in the public mind, other makes and models are looked upon as second-rate.
Back in high school, I wrote a research paper on the perfume industry and was unsurprised to find out that the price of cologne reflects mostly the cost of marketing and packaging, not of the aromatic liquid in the bottle. I learned that there is seldom a recession in the cosmetic industry because people are always willing to buy a little bit of luxury to make themselves feel better even in the worst of times.
This holiday season, we might consider the power of marketing and presentation when we go to the malls or shop online. We might save a bit of money – or, as in the case of the gullible Palessi shoppers, our self-respect.