UK consumers wouldn’t care if 75% of ‘tired brands’ ceased to exist
New research from independent creative agency Impero has determined that the vast majority of UK consumers (70%) are more likely to avoid brands that they see as tired.
The study of 2,000 shoppers of all ages and incomes across the UK mirrors recent studies that suggest consumers wouldn’t care if up to three-quarters of brands ceased to exist.
Ben Hyde of Impero said: “Through this study, we were able to identify four pillars of brand vitality: ambition, boldness, surprise and relatability. Ambitious brands don’t follow trends, they create them; bold brands challenge the status quo and reinvent themselves; surprising brands can adapt and excite and don’t get bogged down in their own heritage; while relatable brands genuinely share the values of their target market.”
Perhaps unsurprisingly, vitality is even more important to the youth. An incredible 88% of consumers aged 16-28 say they ‘probably’ or ‘definitely’ spend more with brands that are bold, surprising, ambitious and relatable
Within some industry sectors, around a quarter of higher earners are spending more than £1,000 a year with brands that are ambitious, bold, surprising or relatable, over their tired competitors.
Hyde added: “We believe fixing brand tiredness can boost profits and win back shoppers, and is a particularly effective way to engage younger consumers and higher earners, with significant sums at stake in key sectors. The good news for all brands is that 85% of respondents say they would go back to a formerly beloved brand if it revitalised itself to be ambitious, bold, surprising or relatable once again.”
Source: Media Tel