Value innovators » Trends: Servile Brands. I’m always looking forward to receive the newsletter from Trendwatching.com …their trend studies are one of my main sources of inspiration in comsumer trends. This time it’s about Servile Brands. Demanding customers in focus Yes, consumers are more demanding, time-starved, informed, and choice-saturated than ever-before (we know you know).
For brands to prosper, the solution is simple though: turn SERVILE. Everyday great ‘customer service’ will of course forever be crucial: a 2011 American Express survey found that 70% of American consumers were willing to spend more with brands that provided a great service, and a whopping 60% thought brands weren’t thinking enough about the service experience. What is a Servile Brand? Here is 11 examples of what a Servile Brand can be: For me this is very exiting reading as all of the parameters doesn’t focus on price as the key driver to sell. Downloads You can download the report and presentations here: Watch the presentation on Slide Share. S Trend Briefing covering "10 Crucial Consumer Trends for 2013" “Brands’ wishes will be consumers’ command.” Expect to witness a daring change in the relationship between ambitious, responsible brands and their customers in 2013. Switched-on brands that are embarking on the much-needed journey towards a more sustainable and socially-responsible future will demand that their customers also contribute, and in doing so earn the respect of even the most hyper-demanding of consumers.
But consumers aren’t going to put themselves out for brands unless they truly believe in the bigger vision. So, in positioning yourself as a DEMANDING BRAND, make sure you’re 100% transparent and sincere. Otherwise, it’s time to stick to being a SERVILE BRAND ;-) One more thought for DEMANDING BRANDS in 2013: it’s one thing being temporarily demanding as a stunt to grab consumers’ attention, but quite another to make meaningful demands on an ongoing basis. Vitoria: Give blood to restore football kit colors Tata Docomo: The Bloodline Club. Tough times make more disloyal shoppers. Morrisons' chief commercial director Richard Hodgson told delegates at last month's IGD convention that shopper behaviours were "challenging" and retaining their loyalty was difficult in the current economic climate.
This trend had increased with the rising use of price comparison web sites, delegates were informed. "If we put classic brands on promotion, we see a dramatic shift in allegiance," said Hodgson. "30% of our customers admit to changing their supermarket of choice if there are better deals elsewhere and 40% shop at at least three. " Hodgson said the fault lay partly with supermarkets themselves, which were more interested in competing with each other than serving the customer. "To create loyalty, we must change the way customers think and act," he said. IGD chief executive Joanne Denney-Finch argued that retailers were damaging the sector by the overuse of promotions. She called for more consistent unit pricing within each category to help consumers compare prices. New Products Have Mass Appeal Among Latin Americans. Latin Americans are hungry for new product options—more so than others around the world.
Eighty percent of survey respondents with Internet access from Latin America say they like when manufacturers offer new products, well above the global average of 63 percent. And more than half (56%) are willing to pay a higher price, which is also above the global average (39%). New findings from a Nielsen Global Survey of New Product Purchase Sentiment, which surveyed more than 29,000 online respondents from 58 countries, reveal underlying consumer sentiment toward new product innovations. Europeans and North Americans show the most trepidation when it comes to trying new product innovations.
Less than one quarter (23%) of respondents in Europe and 29 percent of respondents in North America say they are open to buying new products when they first come out. Middle East/Africa respondents are the most vocal about new product experiences. Brand Familiarity Reigns King Around the World. A little brand loyalty goes a long way. More than half (60%) of consumers around the world with Internet access prefer to buy new products from a familiar brand than switch to a new brand, according to a new global study from Nielsen. “Innovating products within established brands that consumers trust can be a powerful strategy,” said Rob Wengel, senior vice president, Nielsen Innovation Analytics.
“Marketers and retailers can deliver successful new products for existing brands by ensuring they uncover unmet consumer needs, communicate with clarity, deliver distinct product innovations, and execute an optimal marketing strategy.” The findings are from the Nielsen Global Survey of New Product Purchase Sentiment, which surveyed more than 29,000 respondents with Internet access from 58 countries. Getting What You Pay For Value, variety and proof-of-concept resonate most with consumers worldwide when they consider buying new products.