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Pic: We’re Cheap Too

Here’s a sign that’s sat outside Wholefoods on Union Square, NYC. Price matters in today’s economy – and we get the impression...

Piers Fawkes, PSFK
Piers Fawkes, PSFK on August 25, 2008. @piers_fawkes

Here’s a sign that’s sat outside Wholefoods on Union Square, NYC. Price matters in today’s economy – and we get the impression that retailers that have spent a long time developing an image of quality are having a spend even more time right now battling the idea that they are therefore more expensive. Here’s an interesting piece from the Minneapolis Star Tribune about the woes of Target and their image:

Part of the problem is that, much as Target has tried to trump up the “pay less” side of its slogan, consumers don’t believe it. “The perception is that because it’s more visually appealing than Wal-Mart, that prices are higher,” said Stephanie Hoff, a retail analyst with Edward Jones in New York. “They’re just going to have to figure out a way to communicate that to their customers better. They’re trying to do that, but it could take some time.”

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Piers Fawkes is the founder and editor-in-chief of PSFK, a daily news site that provides a go-to source for new ideas and inspiration. He also is president of PSFK Labs.

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