Marketing Accessories to Large Audiences
These days younger consumers are not paying as much attention to the price tags of the products they’re buying, and instead, they’re paying more attention to the value that a brand offers to them.
This is the main decision-making element when young people are determining where they’re going to be spending their money.
Some of the most important considerations when making a decision when it comes to young people making purchases include inclusivity, sustainability, and a sense of community from the brand.
Additionally, consumers are also looking for brands that care for their consumers, and plenty of them have noted the feature of a fast online checkout system as a benefit.
Starting at the Beginning
The handbags company Telfar was founded in 2005, and had the goal of creating an inclusive luxury business. One of the most popular of their handbags was first released back in 2014, and it was inspired by a shopping bag from Bloomingdale’s.
A few years later the company won the CFDA/ Vogue Fashion Fund, which allowed the business to expand its production. According to the founder, the brand is supposed to be transformative, democratic, and genderless, and looking to challenge various high fashion notions, including the belief that high fashion is only for the wealthier classes.
Back in 2020, the company’s Bag Security Program was introduced, which allowed thousands of people to finally gain access to the handbags.
This is because before introducing that program, many of the potential consumers ended up unsuccessful every single day, trying and failing to buy even a single one of the popular handbags.
This is because the bags ended up getting sold out before people got to the checkout button.
What had actually been happening during that time were resellers and robots buying the handbags in bulk, which made it harder for real customers to make a purchase.
To fix the issue, the company finally introduced the Bag Security Program to help give customers better access to the handbags.
The program allowed consumers to pre-order any of the handbags 24 hours in advance, without limiting them on the number of items they could purchase.
Then, the handbags were made to order and shipped directly to the consumers.
This, and a few other strategies are what helped Telfar skyrocket its reputation and its popularity with consumers. The bags became so popular that even celebrities, such as Beyonce, Solange, Selena Gomes, and Alexandria Ocasio-Cortez started wearing them.
With this program, the company showed that even a luxury brand can create accessibility for consumers without being exclusive.
Although the decade-long model for many luxury brands stated that their products should be for the elite, and should be made scarcely, this new generation of consumers is now taking a different road.
The company is also looking to grow its exposure, and it’s already been successful in those endeavors by partnering with the Liberian National Team for the Olympic Games and becoming their official sponsor.
The company also released collaborative products with Converse as well as UGG — which are both very accessible and affordable brands — for a larger audience.
Plenty of experts are now expecting that other luxury brands will be following suit with similar strategies as shopping continues to happen digitally.