Streetwear brands have known for years that releasing limited-edition products through a time-restricted ‘drop’ is an excellent way to create a sense of urgency and excitement among fans. Now, this method of product launch has started to enter the mainstream, including the fashion world and beyond, and brands are increasingly favoring frequent drops instead of twice-yearly collections.
Not only do drops generate excitement around exclusivity, but they also serve as a mechanism to establish a direct relationship with their consumers and ensure that a brand stays top of mind through a regular model of engagement, ultimately building loyalty and rewarding fans with access to exclusive products.
To help brands and retailers in any category create hype and drive sales with today’s consumers, PSFK has teamed up with PCH, product development and supply chain solutions provider, to launch The Art Of The Drop report. This strategic playbook provides an actionable framework for successfully leveraging the product drop, and is teeming with best-in-class examples and expert interviews that outline best practices for planning and executing this type of product launch. It also contains special opportunities for implementing drop models as solutions to industry challenges related to COVID-19.
This easy-to-understand guide breaks down the drop into three actionable steps that explain how to carry it out:
•Planning The Drop: Determining what you need to have in place in terms of logistics, designing and producing the product you want to sell, planning fulfillment and creating demand.
•Executing The Drop: Designing the mechanism for the drop, determining the channel and creating the consumer-facing transactional moment.
•Leveraging The Drop: Using the drop as the basis for a long-term loyalty play, fostering ongoing engagement through CRM and membership strategies.
Published July 2020