Analysis of Saks Fifth Avenue Marketing Strategy
The Saks Fifth Avenue is an American luxury department store chain. The store expanded to F Street shopping district in Washington DC. Saks Fifth Avenue’s flagship store is found in Midtown Manhattan, 5th avenue, and this is the store that I explored. Saks Fifth Avenue is an off-price fashion retailer that is independently managed, notwithstanding the fact that it is owned by Hudson’s Bay company. Saks Fifth Avenue has 49 stores across 23 states (Kats, 2021). The company offers merchandise including clothing, jewelry, perfumes, sunscreens, revitalizing eye creams, fashion accessories, and handbags.
The company employs brand assortment through having a range of private brands within the fashion sector. The store has nine floors, different floor has a different categories. The Saks Fifth Avenue separate men’s products and women’s products. The interior design is young and Morden because of the colorful plastic decorations. I really like the roomy area of the first floor., since they looked clean and fresh. The light inside is also well designed. Different spotlights made the store bright. The products can be present clearly and give the customers better shopping experience.
Saks has a strong and diverse brand assortments. They hire almost all the luxury brands in their store. They even have Chanel in the store, this usually don’t happened very offen. Second Floor is my favorite floor, I think they have all the skin care and makeup brands in the world. Customers can get all the products they want here, which the stocks here is full. With the helpful and professional service provided, I believe all the customers will satisfied with them. One thing I found surprised is that some sales of SK-II even can speak Chinese.
Private brands are brands that target particular retailers and are strategically formed to compete with leading brand name merchandise (Bao, Bao, & Sheng, 2011). Private brands, as implemented by Saks Fifth Avenue, are usually offering affordable options when compared to the prices of brand-name merchandise, and they give the retailers higher margins. The private brands of Saks fifth avenue include beauty items such as make-up, hair care products, skin care products, and perfumes. The company offers cost-friendly packages, including a gift card worth USD 700 (Saks Fifth Avenue, 2021). The private brand strategy enables the retailer to compete with the brand-name goods like Gucci and Louis Vuitton. Some private brands of the company include the Fendi luxury collection of clothes, shoes, and bags. The clothes target specific audiences, including party lovers, by positioning one of their merchandise as ideal when one wants an instant party mood.
One of the advertising strategies used by Saks Fifth Avenue is the use of both in store and web pages. For in store, during the weekend I went to the store, there is a gift card event. So many people are coming here because this discounts. There is a long line waiting to exchange the gift cards. I think this is a smart way to advertise, since many customers will come in store just for the discounts. Then, when they come, they will at least shop something.
For online, the company includes pictures of models dressed in clothes as well as accessories sold by the fashion retailer. The company’s website portrays different models in various merchandise and in unique poses that most viewers would find attractive. Saks Fifth Avenue uses location-based promotions to steer consumers in-store (Kats, 2021). Saks Fifth Avenue drives consumers into its stores by placing Nars lipstick on offer when checking in retailers in participating locations using Foursquare. Foursquare links a friend-finder function, social city guide aspects, and game mechanics to reward individuals who are looking for new experiences. Saks, in partnership with InStyle magazine, allowed readers to check in to stores using the Foursquare platform. The strategy adopted by Saks, in this case, targets to engage readers of InStyle magazine to visit the various departments in their stores. The promotion works by having consumers download Foursquare and visit a selection of Saks locations. On downloading the application, consumers enter hot spots branded ‘InStyle.’ After visiting more than two hotspots, consumers can claim a Nars gift from the general manager. The offer markets Saks to the potential market, including InStyle readers.
Shopability of online platforms, or the creation of a venue for shopping online, has become a necessity in today’s business context. Because of the Covid-19, the industry is shifting into digital shopping. Saks Fifth Avenue has an online platform that presents a great avenue for shopping. The online platform includes high-definition pictures of items such as perfumes and their prices and a provision of adding to the bag (Saks Fifth Avenue, 2021). When a consumer selects the option ‘add to bag,’ the highlighted product will be shipped or transported to the consumer after an online purchase. The online platform is easy to navigate and shoppable to a significant extent. Saks conducted a campaign dubbed LOOK. The campaign exemplified brand discovery, the process of analyzing a brand and understanding the unique value offered with regard to consumer needs and competition. Brand discovery usually considers subjects such as vision, history, strengths, and the target consumers (Holland & Weathers, 2013). Saks Fifth Avenue uses professional designers to run a campaign that employs the word LOOK. The campaign purposely targets to attract the attention of shoppers who are keen to explore style. The presentation of the word LOOK in a bold and attention-catching motif is strategic in the sense that it lures shoppers seeking to explore fashion (Beirut, 2021). In the campaign, the term is repeated in a paternalistic manner on bags as well as catalogs. The use of geometric letter simple forms make a graphic text that draws the viewer. The strategy adopted in the campaign by Saks exemplified brand discovery in the sense that it retains the company’s identity of variety and style while purporting to increase market share by targeting the curious individual.
Saks Fifth Avenue actively builds its brand to compete with brand names and other retail stores. The Look campaign, for instance, is expected to build the brand by getting more people to explore merchandise at Saks Fifth Avenue. The graphics for the campaign exemplified by the term LOOK can be described as playful yet stylish (Bierut, 2021). The term ‘look’ is used repeatedly across different departments, including terms like ‘LooK What’s new’ that refers to a section within the store. The emphasis on LOOK and the meaning attached to it builds the image of a stylish and playful brand.
Bao, Y., Bao, Y., & Sheng, S. (2011). Motivating purchase of private brands: Effects of store image, product signatureness, and quality variation. Journal Of Business Research, 64(2), 220-226. DOI: 10.1016/j.jbusres.2010.02.007
Bierut, M. (2021). Saks Fifth Avenue LOOK — Story. Retrieved 24 September 2021, from https://www.pentagram.com/work/saks-fifth-avenue-look/story
Holland, J., & Weathers, J. (2013). Aligning a company’s people strategy with its business strategy and brand strategy. Journal of Brand Strategy, 2(3), 245-258.
Kats, R. (2021). Saks Fifth Avenue drives consumers in-store via location-based promotions | Marketing Dive. Retrieved 24 September 2021, from https://www.marketingdive.com/ex/mobilemarketer/cms/news/advertising/7426.html
Saks Fifth Avenue. (2021). Saks Fifth Avenue: Women. Retrieved 24 September 2021, from https://www.saksfifthavenue.com/c/beauty/view-all-beauty/fragrance
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