Are Hype Drops Really the Hottest Trend in Marketing?
Contrary to popular belief, drops aren’t anything new to the industry and have been utilized for decades. However now with one of the most powerful marketing tools in our hands daily, it has become possible to successfully create hype surrounding the launch of a new product. Giving an official name to the strategy and the proper means to ensure widespread awareness, hype drops were given a fresh start.
Initially causing the most waves in the fashion world, hype drops are now encompassing several industries. Primarily used as a sales technique, through releasing a limited edition or quantity of a product, it speaks to people’s innermost needs. Our brains are wired to seek the chase, resulting in wanting what is most unattainable or simply what we just can’t have.
The New York-based skater brand Supreme is credited with propelling the new age of drops. Relying on the element of mystique, every Thursday at 11am they would release limited edition lines containing up to 15 new products with no clues given beforehand as to what it may be. Since initiating these weekly drops the brand has grown tremendously, now being valued at over $1 billion and having locations from Paris to Tokyo.
Other brands quickly caught on and have begun enacting similar strategies. Nike, Adidas, Balmain, Louis Vuitton, Gucci, and Burberry just to name a few. The most successful of those being the Yeezy line for Adidas which sold out in 30 seconds.
There is no one correct way to orchestrate hype drops. It should be tailor made to each brand so that it falls in line with the company’s image and mission. Major corporations are realizing the opportunity to be exploited here, and have recently begun creating roles/positions within their firms directed solely towards researching and implementing these types of strategies.
Whether liked or not hype drops are here to stay…. well at least for now until the next big idea emerges.
Bela Ricardo, '21