Exclusivity as a Marketing strategy-Magnum Pleasure Store

Posted: August 8, 2013 in Marketing case studies.
Tags: , , , , , , ,

Marketing is not all about making your products or business friendly to the market at times its all about scaring and daring the market to go against the norm and do something different as we see from the newly opened magnum pleasure store in Australia.

Here is the story as recently reported by inside retail.

In the midst of a soft retail environment, one store is persuading customers to queue for up to 20 minutes and pay a 220 per cent plus premium for an item that (fundamentally) you could pick up in a supermarket.

I guess it depends which side of the retail counter you’re on. The Magnum Pleasure Store is a pop up concept exclusive to Westfield Sydney for six weeks only.Perfectly sane people have happily lined up, handed over $7, and endlessly filmed and photographed the process on their smartphones. It’s executed with the skill and polish of a major FMCG brand, and the intuition of a merchant.

For the uninitiated, this is how the procedure works. Take a ‘naked’ Magnum and choose a chocolate coating – white, milk, or dark. Select up to four toppings, including ‘specials’ such as crumbled meringue and  experimental like rose petals. Wait for it to be drizzled with chocolate by a Magnum ‘bar-ista’ and finished off with a chocolate Magnum coin. Finally, shoot the result on the iPad provided, and share with your friends on social media. Yes folks, customers are willing participants in both the theater and the promotion of the store.

With such a concept Magnum store checks off all four mega trends influencing retail, and they are.

1. Globalization 
The Magnum Pleasure Store is popping up for limited engagements in major cities across the world, including Paris, Milan, Amsterdam, Shanghai, Toronto, and New York. This is a worldwide phenomenon in a border less age.

2. Polarization 
Retail has polarized into extreme value offers at one end of the spectrum and luxury or specialty at the other. The Magnum Pleasure Store successfully turns an everyday (albeit already premium) item into a super premium must have.

3. Digitization 

This is a store that has been digitally driven at every possible opportunity. Its arrival was breathlessly anticipated on social media (including YouTube clips of other cities opening their stores), and its fame is spread further on Facebook, Instagram, and Twitter.

4. Personalization 
Today, retail is all about ‘me-tail’. A big part of the appeal of the offer is that customers can create their very own Magnum concoctions.

As much as it is on-trend, the Magnum Pleasure Store also adheres to a very old rule in retail & marketing: the principle of scarcity.

The store is in one place for a strictly limited run and that heightens its appeal. It screams “get in before it’s gone”.

It also allows the customer to watch the factory in action (and in fact direct the production line), and that is incredibly engaging.

So what you think is this pure Madness or genius?Image

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