Wednesday, October 20, 2010

EOC Week 3: Making Money For Good

The Hot Topic Corporation stands tall with 680 mall-based locations in the United States and Puerto Rico. By the end of January 2010, they had a net income of $11.9 million and a sales income of $736.7 million. Hot Topic may not be the highest selling retail corporation but it’s on the rise to do so, especially since they’re giving back to the community as well. The “Hot Topic Foundation has granted more than $5 million to charitable organizations throughout the country” alone (http://community.hottopic.com/content/charities). They sell multiple branded clothing, CD’s, jewelry, wallets, purses, and more. The products advertise creativity, a passion for music, humor, personality traits, etc. on each design; overall a love for art. Their foundation is to “enrich kids' lives by enabling them to express themselves musically and artistically!” (http://community.hottopic.com/content/ht-foundation). By doing so, they allow teens and young adults to not feel condensed with life. Why take everything in life so serious? Why not express how you feel apparel wise and not physically?

Even though many people view Hot Topic as “the devil” (http://www.viewpoints.com/Hot-Topic-Online-Shop-reviews) with demonic products, Hot Topic isn’t only looking out for their customers, but for charity organizations as well. They support organizations such as Chicago’s International Children’s Film Festival, Little Kids Rock, Heart of Los Angeles (HOLA), Mind Institute, Inner-City Arts, Big Thought, IFP Chicago, Chicago Humanity Festival, Rock Against Cancer, Spy Hop Productions, Footlights Inc., Carolina Studio Corp., KIPP Bayview Academy, Grammy Foundation, and Notes for Notes. For every transaction they encounter, they ask the customer if they want to donate to charity and give you a cool little gift bag along with a card that you can get stamped for future discounts. The Hot Topic Foundation is well on its way to successful marketing value.

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