It was recently reported that Primark is the only retailer to increase their profits continuously over the last 6 months as all the other retail brands made losses. Primark has taken a position that appeals to image conscious celebrities and fashionista who provide the budget brand with legitimacy for cash strapped middle-class consumers, giving them permission to shop down market.
Primark achieves an outstanding win win – providing the budget solution for shoppers on a budget and manages to turn off the snobbery of those who would never be seen dead shopping on a budget.
Like the positioning of Harry Potter that transcended age segmentation, Primark transcends socio demographics. If this has been a considered strategy it is genius. If it is a happy accident, a consequence of timing and converging circumstances, Primark benefits uniquely from the current economic mayhem.
If you are lucky enough to find a position with a broad appeal that is also uncompromising you can make a killing. In marketing terms products are more often focused on narrow segments, Primark turns this on its head – a rare breed indeed.