PopSugar partnered with the luxury retailer, Neiman Marcus, to introduce limited quantity of mystery boxes with unknown item inside. The box is sold at a price of $250 where the content inside is stated to have a value of $600. The boxes were sold out less than 24 hours even when they have little about what is inside the box. People cannot choose what will be in the box, not even the color of the product. There is a big chance that not everyone is satisfied with all items inside. Base on the press release, the box contain eight designer items. The only item that was revealed is a knit throw blanket with price of $195. However, Neiman Marcus sold the same product with price of $100 in store and customers can pick color they want. . Nevertheless, shoppers of Neiman Marcus still see a good deal, especially when Neiman Marcus is a retailer full of luxury products.
This selling method is not new to the market. In 2012, Little Black Bag, an e-commerce company also use this method to raise a $8 million fund. The company stated that their inspiration comes from the Japanese New Year’s tradition, “Fukubukuro”, where merchant are selling bags filled with unknown product in discounts. This is not only a way to sell more products but is also used to market new products. Company gets lots of impression from the social media when people are trading or commenting on products.
“Mysterious boxes” is an affective sales strategy, especially for business that consumers perceived to have high reputation and value. Companies want to let their consumer to try different products from their brand, even the less popular ones.
http://allthingsd.com/20120816/little-black-bag-stows-away-8-million-in-funding-for-social-shopping/
http://business.time.com/2013/10/22/shoppers-snatch-up-250-boxes-without-knowing-whats-inside/
image: http://timebusinessblog.files.wordpress.com/2012/10/82775222-e1351105200128.jpg?w=360&h=240&crop=1
The arrival of fall raises the competition of product with pumpkin flavor. For most people, pumpkin is a symbol of fall, especially when it is a significant part of two important holiday, Thanksgiving and Halloween. For this reason, many brands have launched various seasonal products that focus on Pumpkin. Popular coffee company, Starbuck, has had a great success on its pumpkin spice latte. The company has sold about 200 million cups of pumpkin spice lattes in last 10 years. With the success of Starbuck, McDonald’s and many fast food chains also want to take some shares from this seasonal market. Both McDonald’s and Tim Hortons have pumpkin spice latte on their menu during the fall. Not only beverages market, Krispy Kreme and Time Horton both introduce pumpkin spice donuts.