Meghanomics – The Meghan Effect, An Introduction

Credit: Rightful owner

Whenever the Duchess of Sussex makes a public appearance, whatever she wears very often quickly sells out. Worldwide consumers either rush to nearby stores or to the stores’ online websites to place an order; simply because they adore the Duchess’ look. Many consumers also purchase items because they share the Duchess’ beliefs in the causes the brands she chooses to represent:

  • Empowerment of a small business, particularly those owned and operated by women
  • Fair and equal treatment of workers
  • Sustainability
  • Since the brand quickly gains recognition and sales on a global scale, many writers have dubbed this as “The Meghan Effect”. Meghanpedia has rebranded their term and renamed it “Meghanomics.”

Meghanomics the benefits of the Meghan Effect

  • Global recognition as online searches surge.
  • The cost of this free advertisement is priceless & the company is spared the huge expense
  • Increased brand value.
  • Increased sales, which means increased earnings
  • Increased employment, as companies hire more workers, to meet demand earnings, and employment.

First public outing:

  • The first time the beautiful Duchess of Sussex (then known as Meghan Markle) stepped out with the charming Prince Harry publicly, they walked hand-in-hand to a wheelchair tennis match at the 2017 Invictus Games in Toronto. Meghan made a fashion statement when she wore the Misha Nonoo husband shirt, stressed jeans, sunglasses by Finlay & Co. and “The Day Market Tote” by Everlane.
  • Everlane is an ethical or sustainable brand that uses factories around the world to produce its products. When selecting a factory, the company performs a compliance audit to evaluate factors such as wages, fair working hours and environment.

Results:

  • The entire outfit sold out immediately.
  • Finlay & Co, a London based company, reported a 1000% increase in sales and the brand netted $28,000 overnight.
  • Everlane (a brand that promotes a worthy cause) was forced to add a pre-order option to its website.

Engagement photo call

  • Meghan Markle wore a white wrap coat from the Canadian label, LINE. The LINE makes all their coats by hand. John Muscat, president and co-founder of LINE, released a statement through TODAY Style, “We are incredibly honored that Meghan chose to wear a LINE coat to mark this very special occasion. Acknowledging this coat is one of her favorite pieces, LINE officially decided to name it ‘Meghan’.” Awww the Meghan Effect, to have a garment named after you.

Outcome:

  • This coat sold out within minutes.
  • Searches increased by 320% for the following two weeks
  • Orders increased to 5,000 for that coat
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