What’s hot with consumers!
I am not here to question the brands that you carry in your stores and practices. Far be it for me to lecture any business sight unseen as to what does sell or doesn’t sell in your particular store in your particular neighborhood, in your particular marketplace. My tarot cards are not that good to foresee your marketplace without doing a quite a bit of research. What I will point out, however, is that those practices who swear they will never carry famous brand X or Y might be cutting off their nose to spite their faces.
In a recent survey my MVI Marketing, a luxury brand agency conducted this past February, with just under 1000 respondents 25-40 years of age in the US, they found that famous brand names are still what consumers want and ask for.
As you can see in the accompanying graph, when the respondents were asked to select their top three (3) favorite prescription eyewear brands, Ray-Ban eclipsed a long list of other very famous and not so famous name brands as the choice of a third of all those surveyed. Coming in number two to no one’s surprise was Oakley at just over 20%, followed by Coach, Gucci, and Nike in the number 5 spot at 12%.
The same graph focusing in on just women in the survey shows Ray-Ban number one again, followed by Coach, Kate Spade, Michael Kors, and Oakley, in 5th place.
Looking at just the men in the survey, we see Ray-Ban at 40%, followed by Oakley at 33%, Nike, Gucci, and in 5th place, Calvin Klein.
What does this survey mean to me? It means we have a pretty good idea what people 25-40 are looking for across the country. It means that if I were selling eyewear I would want to carry many of those brands so I could bring people into my store. You can certainly make the argument that so many others sell the same brands, so how does this make your store unique? My answer would be it’s all about what sits next to these brands on your frame boards and shelves. You might very well have a terrific turnover in these brands and be very happy making money. You might also use these brands to showcase other less known brands and make second and third pair sales based on your unique style and brand collections.
One thing is certain. If you don’t carry these brands, you are shutting the door to many of these people who know and want these brands and won’t accept any substitute. For those shops who prefer to sell more unique or even more technically oriented eyewear, you also might never get the opportunity to show them those lines that truly make you different otherwise.
We will be dissecting this survey further in the weeks to come so stay tuned.
Graphs courtesy of MVI Marketing