Niche VS Mass Markets

What does Niche market actually mean? A Niche Market is targeted at a smaller population, they tend to use premium pricing strategy’s in order to attract the upper class. Their products are harder to get hold of than Mass Market products. Liberty’s London 

By looking at the prices we can say that Liberty’s London use premium pricing compared to River Island; for example the standard price of a purse at River Island is £17, where as Liberty’s London are selling purses at £250.

They’re able to set such high prices because their products are unique and very high quality. Liberty’s London focuses on individual pieces, as opposed to your usual everyday wear seen at River Island. Liberty’s London has one individual store in Regent street, London. So what is a Mass Market? A Mass Market is targeted to a wider population, they tend to use psychological pricing to attract middle-lower class customers. Their products are easy to find, Mass retailers tend to stock larger amounts of one product. However, some retailers try to portray themselves as more upmarket by displaying less stock. This gives the illusion that their products are premium and come in a limited edition as opposed to a Mass product which ‘everyone’ will have. River Island are reasonably priced, they have a larger amount of stock available in store and online. They find inspiration from fashion shows and current celebrities and then tailor their products to make them appealing to a mass market. River Island products are available online and in 300 UK stores. The store layouts follow two very different themes; River Island being simple and modern, Liberty’s London have a Tudor building with a grand interior (as shown in the video).