Direct to consumer brands are changing the game and traditional branding is being called into question.
As digital native brands go straight to the customer with high quality products and cut prices, traditional expectations of brands are being questioned. Brands like Brandless, now valued at $500 million, are changing the game by selling unmarked consumer goods direct to the customer. Brandless has not gained success because it is ‘anti-brand’ but rather because it has built its brand platform on the promise of price transparency and the democratisation of high quality products.
Brand Experience Strategy Director Siân Novaković spoke with Raconteur about the changing landscape for brands. “Today, having a trusted voice is a brand’s most valuable asset. Trust is synonymous with transparency. Yet in an age when design is becoming homogenised and social media-based brands are crowding the market, the main challenge is standing out; brand experience is key to differentiation.”
Corporate, social and political scandals of the past few years have irrevocably altered society, and people have lost trust in big business. Brands that go direct to the customer, offering affordable prices, high quality products and a transparent business model have the opportunity to build more personal relationship with customers and reap the rewards of lasting loyalty.
You can read the full Raconteur report on The Future CMO here.