What would you do with R475 000? Some people would use it to purchase the one-and-only 24-carat gold labubu, one of those quirky Japanese dolls that Karl Marx had thrown at his grave, giving him a fluffy, capitalist slap in the face. And for another epic crossover: a Dubai chocolate labubu. Society’s latest fascination is just one of the many commercial anomalies that dominate today’s economy. Ranging from the three-in-one product that serves as a face mask, body wash, and a protein supplement to crypto NFTs, we have to wonder: how do we fall victim to the marketing tactics and trends of this day and age?
Humans are simple creatures. We like things, especially nice things. Some call it taste, some call it materialism, but at the end of the day, we buy, we sell, we reuse, we dispose. Whether we are conscious of it or not, we are puppets in a production directed by money-hungry multinational corporations, written by our wretched capitalist forefathers and funded by our depressingly skinny wallets. However, participating in the toxic and colourful cycle of consumerism helps us cope with the many capitalist ills that we have to endure.
Here are some marketing strategies that you could either use to augment your comprehension of our ever-evolving economy or, for our homebase entrepreneurs, use to looksmaxx your ROIs.
- Social Media Marketing
We start with the light topic of the modern-day eugenics of Sydney Sweeney’s jeans and Katseye’s vibey response. Sweeney’s American Eagle advert received approximately 150 million views across various platforms, while Katseye’s brought in 400 million. Say what you want, but controversy breeds capital. Social media is arguably one of the most effective digital marketing platforms powered by the formidable force of our doomscrolling. The need to have constant access to our social media is what drives the social media marketing industry. (Side note: has anyone seen Spar’s TikToks recently? Top tier entertainment.)
- Edging Your Fans
Do you ever feel like you have been lovebombed by a musician? Let’s take a look at Frank Ocean and Lana Del Rey. Both have niche audiences, both are super talented, and both keep us waiting on the edge of our seats. This phenomenon is known as the scarcity effect and eventisation, especially when they perform unreleased music at their concerts.
- Mystique Marketing
On the topic of celebrities… both Beyoncé and Rihanna exploit that mysterious girl aesthetic they have, cultivating their aura when they stay quiet between releases. These two have mastered the music industry, and they are also active members of the Celebrity Entrepreneurship Club. The brand extensions of Rihanna’s Fenty, earning over $1 billion in annual revenue, and Beyoncé’s Cécred, having two million paying customers in its first six months, were economically genius. Imagine someone asks you, “What are you going to do with your fame?” and you respond with “Triple my net worth.” Iconic, truly.
- Switching Up the Flavours
Switch takes on the strategy of mass customisation – appealing to the target audience through a variety of options. You would think a prickly pear or sour worm-flavoured drink wouldn’t perform well, but somehow, Switch makes it work. Every week, I see new colours, new designs, new flavours, new everything. That design team is definitely working overtime.
- Keeping Up with Uncle Sam
While the West turns the steering wheel of today’s fashion, us South Africans turn to the saving graces of Cotton On and H&M. They might seem basic, but the occidental approach keeps the company’s CEO out of the economy seats. By filling a much-desired gap in the market, these retailers bring what others cannot – a generational essential. Baggy jeans, tote bags, and overpriced hoodies. The lesson these companies need to learn is if it works, don’t fix it.
