Consumer attitudes around mass and class brands and that complex dichotomy of aspiring to both have created an interesting opportunity for brands that can target that sweet spot in the centre. Social media and the sharing economy has become an invaluable way for brands at both ends of the spectrum to engage with their consumers. Brands like Kmart have huge online social communities endorsing their products. Whilst luxury brands know that there is a market available to them if they can successfully leverage their status and “step down” to “masstige”, Celine recently started selling a $700 plastic bag, tapping into that sentiment.
What’s interesting is that consumers don’t necessarily belong to one group or the other. You may aspire to a luxury aesthetic but look for more attainable goods and services where you get the benefits of quality, style, a rarity but without the luxury price tag. This market has exploded with small, boutique brands that have positioned themselves right in between mass and class. So what are the secrets to hitting this sweet spot and getting your product to sell? There are a few key principles to consider:
Melanie Aslanidis, Founder, Beachside Collective