Sunday’s New York Times has a full-page ad for Barney’s, saying prices are slashed 50% right now, before Black Friday. So that means you can probably buy a $700 pair of shoes for $350. Big deal. I don’t buy $700 shoes, and I don’t need $350 shoes. And now I’m annoyed too, because the message is clear:
“our prices are so high we’re still making a buck when we sell at 50%.”
I agree with University of Iowa marketing professor John Murry, who says “If you can’t survive on quality or selection or service, you’re not going to be able to survive on price competing against Wal-Mart.”
What should premium brands do this Christmas? Emphasize service above all, followed by quality and selection. I know I can get the same shoes cheaper other places, but I don’t mind paying more for shoes from Zappos because I know they have the best service on the Internet.
Lower prices would be great, but I’m going to buy from them anyway because I know and love them, and I know I can count on them. Barney’s? Just last week they were acting too snobby for the likes of me to go to their fancy store. Now, they can keep their 50% off sale!