I love Urban Outfitters, Inc. This encapsulates Anthropologie, Free People, a couple of wholesale lines, and of course, the namesake. I love this company because of its amazing focus on marketing a lifestyle instead of just individual products. They create this whole fantasy world that is so much prettier than the real world. Take a look at their dedication to their vision! (Taken from their recently published 3rd quarter earnings.)
From Glen Senk, CEO: "While there is minimal evidence of price elasticity on compelling product, the consumer is certainly more discriminating. She expects more value for money, which in our world, doesn’t necessarily equate to a lower price -- it means she’s looking for authenticity, scarcity, freshness, compelling differentiated product and a meaningful emotional connection that’s born from a shared set of aspirations and values. I believe this emphasis on value and values plays to our strengths. It is how we ran our business before the economic reset, it is why we believe our customers shops with us, and therefore it is how we will continue to run our business in the future."
How many businesses really understand their consumers' mindsets?! Especially at Urban Outfitters' level! Love it! They know their customers so well. This is what I think sets them apart from the other retailers-their dedication to not simply knowing their product, but knowing their clients. This is why they've consistently outperformed their competition.