Snoop Dogg's Virtual Dobermans Get Premium Over Generic Virtual Dobermans
12.10.2008
Celebrity merchandisers are finding a lucrative opportunity within virtual worlds such as Gaia and WeeWorld. Virtual world inhabitants spend $1.5 billion per year on virtual goods, according to the NY Times.
Over coffee with Millions of Us (and Virtual Greats) founder Reuben Steiger yesterday, he told me the kids are shelling out 8 times more, per pair, for Snoop Dogg Dobermans versus the exact same Dobermans, sans the Snoop Dogg association. Granted, we’re talking about $3 here. But an 800% premium for the branded product over the generic product reminds us why we call it brand equity
, and why we spend so much time and money trying to bolster it.