My Shopping Psychology

I am a pretty good shopper...for a man! I like finding stuff that works for me, and I really love exclusivity. I will always always always pay a premium for exclusivity. Recession, credit crunch or whatever - you don't need to command a premium to be exclusive - you just need enough loyal customers buying your product. But with that loyalty, you can command a premium

But when you do that, you sign a contract with me. I don't want to see my favourite brands on everyone's wrist - schoolkids wearing gucci watches? You instantly assume they are fakes...i hope they are..because that is a brand with a point of view. You don't see Bang and Olufsen selling in Dixons or Best-Buy and that's why they will survive and thrive

Specialty shops are where premium brands thrive. If you’re Nooka watches you sell through the W Hotel or independent shops; if you are Nike iD you have your own retail space and website. Your own a premium environment where your customers can get the full experience of your brand.

Then, when your customer gets home and puts on that watch or those customised trainers, they feel them, smell them and give off an air of smugness when they look at them on. It's right there where value is created. The value is created though the loyalty created and they way they tell their friends in the know about it

What they don’t want is to get an email a week later telling them that the watch they just spent $200 on is now on sale for $70 on their website.

Remember that story about Levis being sold in Walmart? When you're for everyone, you're for no one.