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The Price is Right

Posted by fashionentrepreneurreport On Monday, February 08, 2010

Fashion Magazine Pricing 
Lucky’s June issue set a precedent for the magazine – it was the first time the editors dedicated an entire issue to products with retail prices of $100 or less.
  As a shopping magazine, the editors usually showcase the best finds on both ends of the spectrum – splurges and steals – but does an entire issue devoted to frugal fashions signal a sign of the times?
Historically, magazines such as Redbook, Ladies’ Home Journal and Woman’s Day cover clothing, shoes and accessories that are very price conscious; publications such as Lucky., Glamour and Marie Claire usually carry a mix of high and low price points; and publications, like WSJ., Harper’s Bazaar and Vogue focus on luxury items. However, as the economy shows no sign of improvement and consumers are still hesitating to spend their discretionary income on non-essential items, will Elle or InStyle follow in Lucky.’s footsteps and lower its average price points?
Internet Pricing“I find that higher end magazines, like Vogue and Harper’s Bazaar, still focus on luxury goods with high price points, while shopping magazines, like Lucky., feature goods at all price points,” said Ehmonie Hainey, editor in chief at What’s Haute magazine. Conversely, Kathryn Finney, Chief Shopping Officer at The Budget Fashionista, noticed that Harpers Bazaar’s price points have been trending lower for almost two years. Aspirational shopping will never go out of style and with magazines, blogs and e-zines presenting stylish options at affordable price points, it makes it easier for recessionistas to get that oh so desired look. “I think now, more than ever, editors and stylists are being held accountable for the price points of products that they shoot on page,” commented Zoey Washington, co-founder of little biRd style and former fashion editor at Essence.
“Editors at high-end magazines are now covering Wal-Mart, but in speaking with one editor, she’d never even been to a Wal-Mart,” said Finney. However, if retailers like Wal-Mart, T.J. Maxx and Target have the advertising dollars to spend, it only stands to reason that those stores will garner more coverage. “Before I think [price] was always an issue when it came to choosing the products,” noted Washington. “Now the idea of price points is the inspiration behind a story or photo shoot,” she concluded.
That inspiration has extended to online publications as well. Whereas, these outlets were often relegated to covering mainstream brands, or plus size clothing, designers and stylists are now accepting these publications because the editors link directly to the products. “Online magazines seem to focus more on a mix of high and low priced goods and I try to balance out price points when featuring a look, so readers can achieve at least some of the look,” said Hainey. “Also, I have found that designers are willing to send hi-res images or even goods on loan if I want to shoot the items myself,” she stated.
Target Pricing“Lately you see more and more high end labels being accessed by smaller, online publications, but where it really gets interesting is in the blogosphere,” Washington appraised. “Because of the growing influence of prominent fashion blogs and retail-zines, designers are really embracing online outlets because it translates into trackable sales,” she concluded.
Though the tide is definitely changing for coverage in print publications and online publications are gaining in popularity, we haven’t seen the last of traditional coverage or opulence in the pages of Vogue or Bazaar because high fashion has always influenced ready-to-wear. We’ll definitely see more balanced fashion spreads that include high and low end prices and misses and plus sized items. As the economic climate continues to adapt, so too will the people bringing us a little light at the end of this bleak tunnel.
Réal Hamilton-Romeo, Publicist and Writer, and Contributing Nolcha's Consumer Market Editor www.realhamiltonromeo.com 
Images by Bryna Faye Shields

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