Pink offers sweats and pj’s versus teddies and push-up bras. The brand image is one of “cute and playful” versus the more overtly sexy image of the core brand. The Pink collection of “loungewear” (sweatpants, T-shirts, pajamas) has become a popular brand with young women—in 2008 Pink accounted for 17 percent of total retail sales for the brand.
As a marketer, I think Victoria’s Secret is wise to court the younger customers and gain their loyalty early. As a mother of two daughters, I cringe. But since I’m a ruthless marketer, I can’t help but give snaps to Victoria’s Secret for the strategy.
Thinking Ahead to Reach Future Customers
Pink was created because teens and college-age women increasingly wear loungewear (sweat pants) outside the home. Victoria’s Secret was thinking ahead to create a “gateway” to acquire a new segment of customers. Is your brand thinking ahead? Are you reaching out to future customers?
In his brilliant book Trust Agents, Chris Brogan talks about the importance of moving first and investing in the future. Brand leaders stay ahead of the pack by looking ahead and taking risks while their competitors stand on the sidelines.
Is your business looking at new markets? How much of your time is spent planning for future sales? If your answer is ZERO, then check out a recent post to make a new plan for the new year.