Budget brand Payless opens a Fake Luxury Store, ‘Palessi,’ and shows why branding is everything… Watch the video now.
Payless opens a fake luxury store called ‘Palessi,’ to See how much people would pay for shoes that originally retail for $20.
Guess what? They paid over 10 x the normal selling price.
Are we gullible as consumers? Most argue yes.
And that is the power of being a brand.
Where most will launch a ‘brand’ and compete on price, smart business owners and entrepreneurs will launch a brand that connects and feels like a premium brand and never competes on price.
Pay Less have, in this short video, shown you that brand is a feeling, it’s a perception and it’s an illusion.
Is a Rolex made any better than a premium Casio watch? No is the answer. However the status, the feeling of luxury and the name make us feel like we are higher up the food chain with wealth. Most won’t admit it, but that’s the reason. Ask anyone with a ‘real’ Rolex why that have one, you’ll get interesting responses.
Payless said this:
We wanted to push the social experiment genre to new extremes, while simultaneously using it to make a cultural statement
And they did exactly. They told their consumers that designer shoes are marked up over 1800% so buy our $40 shoes, because basically the wealthy already have in the experiment.
Plus they created a video that went viral and got Payless in front of 1000’s of new potential customers.
Being more brand enables you to not compete on price and have your own price.
Using other brands weaknesses to your advantage is a great spin for marketing.
Lessons in marketing and advertising are around you all day long, watch with your eyes the gold is all there.