The Lovemarks Effect
Saatchi & Saatchi
Brands were a fantastic idea when they were invented in the last century. For decades they transformed products, consumer choice, innovation and retail, and pumped the economy. But the twentieth century is history and today brands are struggling for relevance in a dramatically changing world.
The unrelenting pressure from smart and impatient consumers is just the beginning. Psychologist Dr Aric Sigman tells us that people now have more choices to make in a single day than a caveman did in a lifetime. So we can add spoilt for choice to savvy, impatient and price sensitive.
Consider how this plays out for brands. The average retailer has 30,000 to 40,000 products on the shelves. A shopper chooses around 20 of them and they certainly don't spend time working out the differences between 83 types of shampoo or 77 washing powders. What is the usual way retailers and manufacturers deal with these limitations? They keep increasing the number of products. How does this affect consumers? It simply convinces them that shopping is a chore and to get out of the supermarket as fast as possible.