An Innovative Branding Decision
The Gucci Group has recently implemented a new strategy to the marketing of their brand – including prices in promotional ads. The luxury marketing website Luxury Daily reports on the issue. The brand, like most luxury lifestyle brands out there, generally do not denote prices of products in their advertisements. Gucci may get a big return out of this new marketing venture though, seeing as their ads appear on the New York Times website, which generates a segment of consumers particularly fitting for the brand. In addition to being a great outlet for their target market, The New York Times is currently number five on the list of top online newspapers in the country, attracting millions of viewers monthly. The Gucci ads are displayed all-around the homepage, including the header of the website. The key to these advertisements is the interactive approach, consumers can scroll over a picture from an ad and a dropbox will appear with product details, including the price. James Dean, the VP and head of luxury practice at WealthEngine, Betheseda, MD, thinks that this is a great tool to promote new products, but worries some consumers may be turned off by it. With luxury brands usually withholding prices in their promotion, Dean comments that some people may react negatively to the ads which will decrease their chances of ever going to Gucci’s actual website. Even with the risk, others may be following suit soon, seeing as Oscar de la Renta and Calvin Klein have both similarly started advertising interactively on Vogue.com.
Screenshots of Gucci’s ads previewed on The New York Times website