Retail has been closely linked to media. Media and merchandise. Advertisements have always been displayed to consumers in conjunction with media, from full-page ads in magazines and newspapers to product placements on news programs. Advertising is also changing the way that consumers […]
Retail has been closely linked to media. Media and merchandise. Advertisements have always been displayed to consumers in conjunction with media, from full-page ads in magazines and newspapers to product placements on news programs.
Advertising is also changing the way that consumers consume news. CMOs are rethinking their advertising spend and investing in new media.
We are seeing new media publications selling merch in a variety of formats. BuzzFeed recently launched a new line of Goodful products. Good Housekeeping also has a laboratory in the Mall of America. New York Magazine has just hosted a holiday pop up.
This strategy is unique, but it’s also rooted in traditional retail. Consumers want the best deals for the best products when they make purchases. They rely on advice and recommendations to help them do this. They do their research and find the car that gets the highest MPG or the TV with crystal-clear HD.
This is the beauty of review-based publications such as the Strategist and BuzzFeed . You can find a complete list of everything: the 100 best pens, 24 funny gag gifts, and the best mattresses in 2018.
These listicles have the advantage of putting every option front-and-center and inspiring consumers to find products they might not have thought of before. Breakfast sandwich maker $19 I don’t know how I lived without it.
The problem is that the consumer may be interested in these products but not click on Buy. It could be that they aren’t interested in a cast-iron shrimp pan or it could be because they don’t fully understand its utility. There needs to be a better way for the consumer to go from A to B about the product to making a purchase.
Pop-up shops for merchandise and media. The Strategist is New York Magazine’s review section. They have a pop up shop in SoHo called “I Found It At the Strategist”, which features an assortment of inspiring products.
Every piece of inventory is derived from editorial pieces published in the magazine over the past 12 months. The Strategist emphasizes experience. Consumers have the opportunity to try out new beauty products, get gift ideas, and receive gift wrapping. Consumers can also win $500 gift certificates for every social media post.
This initiative is different from BuzzFeed’s Goodful line at Macy’s. The Strategist isn’t actually creating merchandise, they’re curating and displaying products from other brands. This is a win-win situation for all. The Strategist maintains its position of an innovative thought leader and makes a few dollars in the process. Additionally, the products gain consumer awareness and sales. They also get to be part of the NY Mag, which is a great benefit for new brands.
Consumers also win. The Strategist provides non-partisan recommendations. Its editors are meticulous about rating products. They also get an exciting retail experience through a trusted and fashionable publication.
This model isn’t new. The media pop-up uses the same mentality that the “As Seen On TV” strategy. These are exciting products that were promoted directly to consumers. These products must cross the line between TV pitch and in-store retail display to make a difference between huge and small sales.
You would see the “As Seen On TV” section of a Walgreens or Bed Bath & Beyond department store. It had the tangible products that you’d seen on TV. You would pick it up and then make the purchase. This is how I purchased my first Shamwow! Shoppers can touch and feel products at “I Found It at The Strategist” as well as memorable experiences. It’s a wonderful combination of convenience, retail theater, and entertainment.
These are the main takeaways from the initiative: 1) Media outlets are increasingly entering the retail ring, 2) this can be a positive thing for all parties and 3) pop ups make it simple to bridge the gap between media outlets and retail stores.
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