December 12, 2014
Victoria’s Secret’s show draws eyeballs
While Macy’s legendary Thanksgiving Parade has long reigned atop retail’s list of spectacles since starting in 1924, the Victoria’s Secret Fashion Show may have surpassed it in less than 20 years.
The event started in 1995 with a typical understated runway show and a reported budget of only $120,000. Gloss.com described the first show as "good place to find totally normal nightgowns to buy for your mom."
The event became a spectacle in the late nineties when models started wearing extravagant wings and showcasing "Fantasy Bras," or bras laden with diamonds, rubies and sapphires costing $2 million or much more. National broadcasts with star musical performances and more theatrical approaches began in 2001. Style.com described the event as "one that’s part concert, part catwalk, and part pop culture explosion."
The latest show, which L Brands, Victoria’s Secret’s parent, said cost a record $20 million, ran on CBS on Tuesday and featured musical performances by Taylor Swift, Ed Sheeran, Ariana Grande and Hozier. The high cost was partly due to the fact that it took place in London.
![[Image: Victoria's Secret]](data:image/svg+xml;base64,PHN2ZyB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciIHZpZXdCb3g9IjAgMCAxIDEiIHdpZHRoPSIxIiBoZWlnaHQ9IjEiIGRhdGEtdT0iJTJGcHVibGljJTJGaW1hZ2VzJTJGZGlzY3Vzc2lvbnMlMkYxNzk2NCUyRnZpY3Rvcmlhcy1zZWNyZXQtc3RpbGwuanBnIiBkYXRhLXc9IjEiIGRhdGEtaD0iMSIgZGF0YS1iaXA9IiI+PC9zdmc+)
According to TVbyTheNumbers.com, the show drew 9.2 million viewers in the U.S., the highest of the night, but many more saw it on the internet and overseas.
Often describing the show as "the Super Bowl for supermodels," Victoria’s Secret’s marketing director Ed Razek told Business Insider that the show reached 500 million people across 192 countries. He said, "That is completely unique in the industry. No one does what we do."
Much like Macy’s Thanksgiving Day Parade, it’s tough to determine the impact on branding or sell-throughs. Much of the product seen doesn’t sell at retail. The event also offered fresh fodder for critics who claim the brand objectifies women or promotes unrealistic body proportions.
According to Variety, however, this year’s show scored the highest rating with the women 18 to 34 demographic since the season premier of the drama, Scandal, in September.
On L Brands’ third-quarter conference call before the event, CEO Sharen Turney said the brand had been "getting great buzz from the press in London," where the chain has eight mall locations and a flagship. She added, "We have continually been picked up in the press far beyond, it has far reached beyond holiday."
In-store events and watch parties worldwide also supported the event. Ms. Turney added, "When you think about the opportunities around where our next year show will be, that world is our play station so you never know so stay tuned."
- This Year’s $20 Million Victoria’s Secret Fashion Show Was The Most Expensive Ever – Business Insider
- 11 Facts You Didn’t Know About The Victoria’s Secret Fashion Show That Will Make You Want To Watch It Tonight – gloss.com
- Tuesday Ratings: ‘Victoria’s Secret,’ ‘Rudolph’ Guide CBS to Victory – Variety
- How Victoria’s Secret and its fashion show went primetime – after its founder killed himself – Washington Post
- Angels’ delight: backstage at the Victoria’s Secret Fashion Show – Evening Standard
- L Brands (LB) on Q3 2014 Results – Earnings Call Transcript – Seeking Alpha
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Discussion Questions
Does the popularity of the Victoria’s Secret Fashion Show offer any marketing lessons for retailers beyond “sex sells”? How would you rate its appeal as a branding tool or traffic driver for Victoria’s Secret?
Poll
Really it’s pretty simple. Create an experience.
If you want to go beyond that starting point, create a unique, not-available-anywhere-else and totally congruent with your product line kind of experience. Victoria’s Secret has done this superbly. This is the hypothesis behind Kim and Mauborgne’s Blue Ocean Strategy.
One reason the Macy Parade may be slipping is that a 90-year-long track record eats into the “uniqueness” factor. That plus it really has nothing to do with the chain other than as a sponsor.
To evaluate the effectiveness of this strategy do this little test: What comes to mind when you think of A.) Macy’s Department Store, and B.) Victoria’s Secret? Seems to me with A most will think of the parade and with B most will think of the product. Which thought is likely to generate revenue?
I rest my case.
There is no doubt that a dab of scant apparel with a couple of scoops of tightly-packed flesh wrapped in makeup will get the lion’s share of attention. These ingredients are standard issue for all retail and trade show cattle calls that are in pursuit of high traffic volumes. The sales numbers seldom coincide with the traffic levels. And then there’s Victoria’s Secret which is simply playing show-and-tell with what they really sell. What works better than an honest open approach to the market. In this case the numbers are closer to even.
To be honest, I came to answer this question because I wanted to see what others would say. In his comments, Ian Percy summarized it perfectly.
Ian said all that needs to be said.
It’s a fantastic branding tool. It makes the brand come alive offering desirability, energy, passion and beauty.
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Really it’s pretty simple. Create an experience.
If you want to go beyond that starting point, create a unique, not-available-anywhere-else and totally congruent with your product line kind of experience. Victoria’s Secret has done this superbly. This is the hypothesis behind Kim and Mauborgne’s Blue Ocean Strategy.
One reason the Macy Parade may be slipping is that a 90-year-long track record eats into the “uniqueness” factor. That plus it really has nothing to do with the chain other than as a sponsor.
To evaluate the effectiveness of this strategy do this little test: What comes to mind when you think of A.) Macy’s Department Store, and B.) Victoria’s Secret? Seems to me with A most will think of the parade and with B most will think of the product. Which thought is likely to generate revenue?
I rest my case.
There is no doubt that a dab of scant apparel with a couple of scoops of tightly-packed flesh wrapped in makeup will get the lion’s share of attention. These ingredients are standard issue for all retail and trade show cattle calls that are in pursuit of high traffic volumes. The sales numbers seldom coincide with the traffic levels. And then there’s Victoria’s Secret which is simply playing show-and-tell with what they really sell. What works better than an honest open approach to the market. In this case the numbers are closer to even.
To be honest, I came to answer this question because I wanted to see what others would say. In his comments, Ian Percy summarized it perfectly.
Ian said all that needs to be said.
It’s a fantastic branding tool. It makes the brand come alive offering desirability, energy, passion and beauty.