SMITH BRAIN TRUST – It turns out, your choice of handbag might influence more than your overall look. It might be affecting your social behavior, according to new research.
Professor Wang received her Ph.D. in Marketing from the Carlson School of Management at University of Minnesota in 2015. Her research focuses on luxury brands and conspicuous consumption, and social/ interpersonal influence on consumer's behavior. Her research has been published in Journal of Consumer Research and Psychological Science, and has been covered in the New York Times, Wall Street Journal, Harvard Business Review, BBC News, FOX News, and CNN. She teaches consumer behavior in the undergraduate program.
SMITH BRAIN TRUST – Who would have thought it would come to this for Barneys New York?
The epitome of New York affluence, a retailer who catered to the city’s most elite, reduced to bankruptcy court, then sold off in pieces.
SMITH BRAIN TRUST – Think a human is reviewing your video interview? Think again. If you’re job-interviewing with a large company, chances are you’ll have to interact with artificial intelligence (AI) before ever interviewing with a human. So, what’s the best way to win over your AI interviewer and land the job of your dreams?
SMITH BRAIN TRUST – When Target opened its doors on May 18, it was with a small wave of excitement.
Its newest designer collaboration – the seashore-themed Vineyard Vines for Target – was there on the shelves, and the retailer was hoping that once again, it would land on a partnership that would drive traffic to the stores and online, and generate some consumer buzz. But what if it didn’t?
SMITH BRAIN TRUST – Chip and Joanna Gaines began their rise to popularity with their HGTV home makeover series, “Fixer Upper.” They were knocking down walls, fixing up homes – and building a marketing empire.
Their success is setting a new agenda for big-box retailers and elite fashion houses alike, says Maryland Smith’s Yajin Wang.
Buyers of luxury fashion can be passionate, even territorial, about the brands they shell out for.
It’s about status, exclusivity and self-identity, Maryland Smith’s Yajin Wang explains. And the attachment runs deep.
It creates a tension for designers. How can they seek out new consumers, new markets and grow their brand, while preserving the exclusivity its devoted fan base adores?
SMITH BRAIN TRUST – De Beers once swore it would never debase itself by selling stones that had been grown in a lab.
Well, that was then.
Now, the global diamond magnate has launched Lightbox, its own line of lab-grown diamonds. It’s pricing them at a fraction of the going rate, in a move that could crush its key rivals in the market for synthetic gems and position the company to once again reshape how the world views the diamond.
SMITH BRAIN TRUST – Dolce & Gabbana is reeling from a self-inflicted scandal that seems unlikely to go away anytime soon.
The Italian fashion house was forced to cancel a highly anticipated runway show last month in Shanghai, amid social media backlash over an ad campaign that many deemed offensive to Chinese culture. The ad campaign, aimed at promoting the runway show, included video of an Asian woman trying unsuccessfully to use chopsticks to eat Italian foods like pizza and cannoli.
Luxury brands use legal threats and guilt campaigns in efforts to deter people from buying knockoff, or counterfeit, high-end luxury handbags. And it’s been to little effect. Worldwide consumer demand for fake luxury products continues to outpace itself.
SMITH BRAIN TRUST – Buyers of luxury fashion can be passionate, even territorial, about the brands they shell out for.
That’s part of the reason why the announcement this week that Michael Kors had reached a deal to buy Versace for $2.1 billion sparked an uproar across social media, Maryland Smith’s Yajin Wang explains.