{"id":12985,"date":"2015-09-01T09:00:38","date_gmt":"2015-09-01T13:00:38","guid":{"rendered":"http:\/\/www.Centives.net\/S\/?p=12985"},"modified":"2015-09-01T08:08:29","modified_gmt":"2015-09-01T12:08:29","slug":"the-economics-of-prom","status":"publish","type":"post","link":"http:\/\/www.Centives.net\/S\/2015\/the-economics-of-prom\/","title":{"rendered":"The Economics Of Prom"},"content":{"rendered":"<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"\" src=\"http:\/\/www.Centives.net\/S\/wp-content\/uploads\/2015\/09\/090115_1205_TheEconomic1.jpg\" alt=\"\" width=\"640\" height=\"426\" \/><\/p>\n<p>Lauren Sherman looked into the business of prom:<\/p>\n<ul>\n<li>Families that earn more than $50,000 a year will spend around $800 on prom.<\/li>\n<li>Oddly families that earn less spend more. Those that earn less than $25,000 will spend almost 1.5 times that amount.<\/li>\n<li>Most of that money will go into the prom dress, which can cost anywhere between $200 and $800 in one major store.<\/li>\n<li>To ensure that no two girls are wearing the same dress to a prom, stores will keep lists of the girls that have bought each of the dresses.<\/li>\n<li>This means that big stores with a lot of inventory have an advantage. One company, rent the runway, spotted a market opportunity and offers a Netflix like service for dress rentals. The company rents $800 million of clothes a year.<\/li>\n<li>Prom dress makers need to be agile. The dresses in demand will be those that Beyonc\u00e9 and Taylor Swift were wearing in the weeks leading up to the event.<\/li>\n<li>They also need to know the social landscape. If the prom queen buys a dress from a certain store, then they can advertise this and see a boost in sales.<\/li>\n<li>They may also offer discounts if buyers post about their prom dress purchases on social media.<\/li>\n<\/ul>\n<p>Read more about the business, the fashion shows, and broader trends for the future over <a href=\"http:\/\/www.racked.com\/2015\/8\/26\/9198265\/prom-dress-industry\">here<\/a>.<\/p>\n<p>Source: <a href=\"http:\/\/www.racked.com\/2015\/8\/26\/9198265\/prom-dress-industry\">Racked<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lauren Sherman looked into the business of prom: Families that earn more than $50,000 a year will spend around $800 on prom. Oddly families that earn less spend more. Those that earn less than $25,000 will spend almost 1.5 times that amount. Most of that money will go into the prom dress, which can cost [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12984,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-12985","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-bulletin"],"jetpack_featured_media_url":"http:\/\/www.Centives.net\/S\/wp-content\/uploads\/2015\/09\/090115_1205_TheEconomic1.jpg","_links":{"self":[{"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/12985","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/comments?post=12985"}],"version-history":[{"count":3,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/12985\/revisions"}],"predecessor-version":[{"id":12988,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/12985\/revisions\/12988"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/media\/12984"}],"wp:attachment":[{"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/media?parent=12985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/categories?post=12985"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/tags?post=12985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}