Wednesday, February 19, 2014
Where is the DollarTree concept for the arts?
Chicago Tribune: In Heidi Ewing and Rachel Grady's clear-eyed, 2012 documentary "Detropia," which anticipated many of the things that would happen in (and to) the bankrupt Motor City in the year that followed, a union leader laments the disappearance of good, middle-class jobs in the auto industry. He speaks of the kind of hourly wage that would allow a lifetime employee to save up for a small cottage "up north" or maybe a secondhand boat for Sunday afternoons on a small lake in the thumb of Michigan.
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I think a lot of entertainment/leisure industries are facing the same predicament. People have less disposable income these days, and are more likely to shop at the DollarTree, or Aldi, or TJMaxx, or other off-brand stores for their general needs. Because they're used to compromising on their daily lives, I can see the psychology in wanting to save what money they can for a "big splurge" like Broadway etc. where a larger price tag almost enhances the perceived value for the patron.
What I've found most interesting is how the opposite is true for a lot of the retail sector. For example, at Gap, the retail price for a lot of their stock is ridiculously high for the medium-midiocre quality of what it is. They know that, so they run at least a 20% (more often 30-even 40%!) off sale almost every day. People think they're getting a "deal" because it's such a markdown, but Gap is still getting their 250% markup (or whatever it is). I find consumer spending trends really exciting, but it also is frustrating as a college student to feel completely priced out of the vast majority of arts (or even movies these days) markets.
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