2_Overpriced Consumer Trends_Stec

 


Insight: One of the biggest current consumer shopping trends is the rapid popularity of the brand Parke, driven by its ability to blend exclusivity with everyday wear. The company is most well known for their 'mock necks' and the craze around the monthly drops that they do. 

Insight Background: I observed this over the last week as the company dropped its Valentine's Day collection. Like nearly every other young woman, I found myself waking up early, attempting to get my hands on one of the new designs. One of the biggest factors and controversies around the brand is the pricing. At a steep $140 for a simple cotton sweatshirt with a women's last name embroidered on it, one may believe the demand for such a item wouldn't be large, but it is in fact the opposite. This brings me back to the Valentine's day drop. As I placed my items in the cart and proceeded to check out I was then placed in a line to check out nearing almost half a hour. As the time counted down, both items in my cart sold out and nearly every other person I spoke to shared that they had the same experience. Despite this items high cost, the media has created such a craze around this new evolving trend that consumers continue to sell out each collection in mere minutes. Parke even went as far to do a pre-order following the sold-out collection with delievery dates for months after the holiday which I found extremly interesting and a true testemant to consumer trends and the medias impact on such. 

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