The Approaching Market of Tiffany

TIFFANY & COMPANY is advertising on television for the first time in the company's history in a tricky attempt to expand its consumer appeal without compromising its prestigious image.
The idea is to bring in customers who may not be able to afford the $1.8 million strand of Tiffany South Sea pearls but who could spring for, say, a $40 key chain.
In trying to tap the less-affluent market, though, Tiffany's has chosen a marketing approach that is risky for any upscale retailer whose image is as much a selling point as its earrings and bracelets.
Indeed, there is incentive for upscale retailers in general to go easy on marketing for snob appeal. Consumers of varying net worths are spending these days on apparel brand names like Tommy Hilfiger, designer label goods like Gucci and classic retailers known for quality and tradition like Tiffany's.
By marketing itself as the authority on gems, Tiffany's was able to play up its image as an exclusive retailer while attracting consumers who might have otherwise been intimidated walking into its boutiques. The ''Vows'' commercial is an attempt to push that effort further.

TIFFANY & CO. Elsa Peretti Open Wave earrings

TIFFANY & CO. Elsa Peretti Full Heart earrings

TIFFANY & CO. Tiffany 1837 Lock bracelet

Tuesday, November 10, 2009