We recently told you about the launch of Hanky Panky’s first e-commerce site, but what we didn’t know until now is the company debuted their web retail division as a tactic to survive the harsh economy. Before the introduction of the site, Hanky Panky was only sold at high-end retailers, but by bringing the product online it inevitably expands the company’s reach.
“We’ve lived through four recessions and with this one, we’ve definitely felt it. We grew every year until this year,” Lida Orzeck, co-founder of Hanky Panky, told FOX Business News.
Another strategy the makers of Hanky Panky put to use is attaching giveaways to their products instead of lowering their prices. With that greater value, the consumer doesn’t feel ripped off and is more likely and willing to buy the label’s items.
Visit this link to check out a video report by FOX, which shows Orzeck in the design studio talking about her beloved brand.
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