"Nordstrom Rack Strategy"

Challenge: Roam Luggage launched a new standardized collection of luggage and bags to save on operational costs. The prices ranged from $500 - $800, lower than customized luggage..

Solution: In 3 months the business generated $360,000 in revenue and 642 customers. We spent $130,000 on advertising and developed creative assets from 3 creators.

Learnings: Consumers are willing to pay more for a product in a competitive landscape if they are getting a "Great Deal." Increase your prices and offer larger coupons to create the perception of a deal, especially in a competitive landscape and prestige seeking consumer landscape. I call this the "Nordtrom Rack Strategy".