Urban Outfitters Sears or Wal-Mart Term Paper

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Exclusivity for these groups signals uniqueness. In a creative and individualistic society such as America's, uniqueness has cachet and value to the consumer, so any fashion item that can convey this uniqueness will also have value.

Exclusivity also has value because of its scarcity. This is a simple supply and demand equation. The price of a good (its value) is related to the demand for it and the supply of it. When demand is higher than supply, the price increases. Thus, by managing the scarcity of items in the stores, any popular or high quality items will be subject to supply constraints. The consumers of Urban Outfitters know this, and respond by assuming scarcity. They purchase the product quickly, knowing that they may otherwise lose out on the opportunity to do so.

The third reason why exclusivity is valuable is because of the thrill of the hunt. This psychological characteristic is particularly prevalent among female fashion shoppers in Urban Outfitters target demographic. Many members of this demographic enjoy the act of shopping, and enjoy even more finding something special. An item loses its specialness -- its prey appeal -- if it exists in multiple copies on a store rack. When there is only one of an item, it is a better find, and there is more excitement to the capture of this prey. This increases the value of the good to the consumer.

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4. For some consumers, including those in Urban Outfitters' target market, shopping is a form of entertainment. The basic premise of entertainment is a means to pass idle time. For many consumers, shopping fills that role. As with many forms of entertainment there is a cost attached to shopping, although in the case of shopping that cost is optional.

There are segments of the market for whom shopping is not entertainment. For those consumers shopping is only undertaken as a necessity, when there is a specific need that must be filled. For other consumers, however, shopping is undertaken whether there is a pressing need or not. It can reasonably be argued that most consumers in a mall at any given time may want some things, but few have a genuine and pressing need. This is especially true of clothing stores, fashionable ones in particular. Urban Outfitters is not in the business of providing basic clothes to those with a pressing need -- it provides an entertainment experience in the store design, the "hunter" aspect of merchandising and the constant rotation of clothes to provide a fresh experience on every visit. For Urban Outfitters and the firm's customers, therefore, shopping is a form of entertainment and the company specifically does not target any consumer for whom shopping….....

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