Economic downtown? Recession hurting businesses? Consumers not spending?
Not so fast.
Tiffany & Co. just released its 2nd quarter financial results and according to an Associated Press report, Tiffany revenues were up 8%. Up 8 percent and that’s just here in America. In Europe, Tiffany revenues were up 14%, in Japan, they were up 4%. In the Asia-Pacific region (including China and Korea) Tiffany revenues were up a remarkable 21%.
I guess the world’s most renowned jeweler with its reputation for luxury and unbridled sophistication seems to be selling its line of elegance quite successfully in a so-called down market worldwide, thank you.
The tiffany of the jewelry firms is proving that its position as the leader is right on top. So it’s interesting to pause and look and how some smart marketing and conceptual thinking has been working so well.
Let’s begin with their so-called Tiffany position in advertising.
You can’t pick up a copy of The New York Times today or any other day without seeing the marketing decision that both Tiffany and the Times agreed to many decades ago. Tiffany would own the upper right hand 1/9th page ad position on Page 3 forever. Or so it seems. Your eye goes right to that sophisticated looking Tiffany ad with its jeweled visual or on occasion, public relations message or holiday thoughts without feeling good about the company.
Smart positioning helps make Tiffany advertising a proven winner.
But that’s not all.
On a recent visit to the Tiffany store at Long Island’s Americana Shopping Center in Manhasset, one could see how it’s never to early to bring new clients into the Tiffany fold. One sees mothers and daughters as well as grandparents and grandchildren shopping among the silver and diamonds and then seeing the ultimate benefit of what a powerful visual idea or pneumonic device can do.
It’s the Tiffany Blue Box.
Yes, the Tiffany color of the box and the pouch that the jewelry you purchase comes in. From a marketing point of view, it all works together. Even the look of the Tiffany environment stands out as the friendly staff behind the counter, dressed in sophisticated black, welcomes you to their world and gently invites you to be part of it.
Visiting a Tiffany location, be it on Long Island, Fifth Avenue in New York, London, or Tokyo, is a shopping experience that can be unmatched for its marketing sophistication. Which just may explain the one 2nd quarter financial number that wasn’t so positive?
With online sales rising at record rates with companies like Amazon and even eBay, Tiffany & Co announced that its online and catalog sales fell 2%.
From a marketing point of view, one might see that lower online and catalog sales number as justification for Tiffany clients wanting to see their Tiffany item in person, in their hand, on their finger, or around their neck.
You then, of course, get to slowly walk out of your first class Tiffany retail location coveting your Tiffany Blue Pouch, carrying that elegant Tiffany Blue Box, all gently wrapped in a Tiffany Blue Bag…and then maybe even having the world see you.
Smart advertising positioning and powerful blue marketing never worked so well or looked so good.