In Hong Kong this week in plenty of retail businesses I saw excellent examples of products focussed on collectors who spend up big on their passion.
Look at this pen I saw at a S. T. Dupont store, Central, Hong Kong. It is a jewell encrusted train, limited edition, pen. The price is A$34,000.
This pen is on display for the ‘museum factor’ – to attract people to look, and to sell. yes, people purchase the pen.
Could we sell this in a newsagency? No. Well, probably no. However, in the right situation, I am sure a newsagent could sell one.
We can sell any expensive item in the right circumstances, regardless of the limitations we place on ourselves under our shingle and regardless of the limitations some suppliers place on us because of our shingle.
At our core, we are special interest businesses. In our magazines and some other departments in our businesses we serve people with passions. So, shy not an expensive pen for the train enthusiast? maybe not a $34,000 pen but why not a $500 pen?
In my own newsagency I regularly sell limited edition collectible items priced at between $500 and $1,000. I recall when we got into these some in the channel poked fun. They would not poke fun at the money through the register as a result.
The key is to not look at what we sell in the traditional way. This train pen is not a pen, well it is, but not to most shoppers. No, to a train lover it is a showpiece item for their collection. That it is a pen is of little consideration.
Seeing this pen, and the other collectible pens for other special interests, was a reminder of the value of collectors and the importance of serving them with the same passion with which they collect.