Thursday 11 a.m. is the time that clothing brand Supreme chooses to ‘drop’ its latest releases of clothing attire (see BUSINESS REVIEW, Vol. 24, No. 2, pp. 28–30). Keeping goods scarce and exclusive allows firms to make their products more desirable, and makes them very price-inelastic, driving the prices of these limited ranges way above those of a normal T-shirt or pair of jeans.
The trade in these items on secondary markets presents a good business opportunity for savvy teenagers who understand the value that comes from investing in the latest £200 pair of Yeezys or £500 Moncler jacket. The model of promotion and pricing has attracted some of the biggest names in fashion and now Burberry is taking advantage of social media-friendly distribution and promotional channels by bringing in monthly 24-hour flash sales of limited ranges of their garments.
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