FRIENDS WITH BENEFITS: SHARING IS CARING

Within this current retail environment defined by lackluster sales, ghostly floors, and slashed price tags, management is struggling to engage customers, urging them to not trade down, despite their empty pockets.

But retailers have failed to attempt to reevaluate the retail strategy despite the hard times. A conversation with a friend on the subject of tradeoffs (babies for Berkins) got me thinking. What if two best friends each put in a share to own a prized possession to both call their HALF (instead of their OWN).

While the concept may seem bizarre and wacky, it could work. For retailers, this alleviates the sale slash down, a compromise in brand values and more consistent payments in full.  So the real question is: Could retailers make more money/capitalize on the opportunity if friends shared the benefits?

The idea, in some form is something to think about, as an emphasis on quality, durability, longevity, and classics has most recently been introduced into the shopper’s vocabulary. But the idea of sharing an item could possibly be good for friendship as well.

Two people investing their money in an item also hold their friendship to a higher standard—an effort to not only create sentimental value, but to create a greater appreciation and place holder on friendships affected by the harsh realities of living in a big city and in a time where many friendships are abused.

However, based on the friends-with-benefits model, in the end everybody can win. The retailer creates a more open forum for demand, and the long-lost friend with all the potential in the world is finally held accountable (literally and figuratively) thanks to the object that stands between her and her gal pal. So whether it’s that coveted bag, show-stopping coat, or red-soled shoe, just be sure to evaluate the investment both of the object and the individual, before taking advantage of all the benefits—oh yeah and that you share similar taste or size too!

---