Master Lock Locks up the Teen Market

Its always exciting to learn about companies who are forever in a quest to create a product that is better and better for their users.  Companies who really care about creating a product that their customers don’t just like but love and who are truly excited about.

Great story in the NY Times about Master Lock’s new lock targeted at teens called G.l.o.

Best part of the story is they are selling VALUE.  They have more than doubled the price of a combination lock from the current $6.20 for a basic lock to $13.64 for the G.l.o. and sales have exceeded expectations.

Students account for 30% Master Lock’s total retail business and the company has been trying to create something "cool" for a couple of years.  First they created the Sphero in 2003, a lock that could be opened with one hand-a boon for students carrying lots of books.

Next was how to make it cool by adding L.E.D’s or some kind of lights.  Now the new lock glows, either blue, green or purple when the dial is spun.

Next up, Master Lock is still trying to figure out how to add L.E.D.’s and who knows what else.