❗Let's close the gap: We still need your help to raise $40,000 by April 1. Donate now

Niche markets for bigger sales

Nancy Marshall-Genzer Jul 1, 2008
HTML EMBED:
COPY

Niche markets for bigger sales

Nancy Marshall-Genzer Jul 1, 2008
HTML EMBED:
COPY

TEXT OF STORY

Renita Jablonski: Car dealerships aren’t the only ones looking for ways to bring customers in. All kinds of retailers are turning up the heat on niche marketing. Marketplace’s Nancy Marshall Genzer explains.


Nancy Marshall Genzer: Some retailers are looking to yoga for inspiration. JC Penney, Victoria’s Secret and J. Crew have started selling yoga outfits. They’re trying to attract yoga addicts who don’t mind splurging in the name of tranquility.

Retail analyst Howard Davidowitz:

Howard Davidowitz: Retailers are fighting for footsteps. One way to differentiate yourself is to have special products, to focus on special categories.

Davidowitz says some retailers are specializing in certain brands. Macy’s has an exclusive Martha Stewart houseware line. One Macy’s ad features Stewart and stars like R&B singer Usher hawking their products.

Usher: This is my new fragrance. Apply it here, and your body heat will diffuse it naturally.

But MKM Partners analyst Patrick McKeever says discounters don’t have to hire rock stars.

Patrick McKeever: They don’t have to try and be innovators. It’s because there is that natural benefit that comes during tough times as consumers seek value.

Dollar stores may have the best niche of all: cheap stuff.

In Washington, I’m Nancy Marshall Genzer for Marketplace.

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.